How to Turn $15k into $100k in 2024 (Proven Methods)

By Planting Our Pennies •  Updated: 12/15/23 •  8 min read

Wondering how to turn $15k into $100k? Check out these proven methods to grow your money!

Invest in Rental Properties with Arrived

If you’re looking to turn $15k into $100k, investing in rental properties is a great option. With Arrived, you can invest in real estate crowdfunding and own a piece of a rental property without the hassle of being a landlord.

Arrived Real Estate Investing

Investing in rental properties can be a great way to diversify your portfolio and generate passive income. While there is some risk involved, the potential for profit is high. Rental properties can provide a steady stream of income and can appreciate in value over time.

When investing in rental properties, it’s important to do your research and choose properties in desirable locations with strong rental demand. With Arrived, you can invest in properties in top markets across the United States.

One benefit of investing in rental properties through real estate crowdfunding is that you can invest with as little as $1,000, allowing you to diversify your portfolio even with a small amount of capital.

In summary, investing in rental properties can be a great way to turn $15k into $100k. With Arrived, you can invest in real estate crowdfunding and own a piece of a rental property without the hassle of being a landlord. Do your research and choose properties in desirable locations with strong rental demand to maximize your returns.

Invest in Index Funds

Investing in index funds is a great way to grow your money over time. Index funds are a type of mutual fund that tracks a specific market index, such as the S&P 500. By investing in an index fund, you are essentially investing in the entire market, rather than individual stocks.

One popular way to invest in index funds is through the Acorns app. Acorns allows you to invest your spare change automatically by rounding up your purchases to the nearest dollar and investing the difference. This makes it easy to start investing with just a small amount of money.

Acorns Investing Bonus

With Acorns, you can choose from a variety of different index funds to invest in, depending on your risk tolerance and investment goals. You can also set up a Roth IRA through Acorns, which allows you to invest your money tax-free.

Diversifying your portfolio with index funds can help to minimize your risk and maximize your return over time. By investing in a variety of different index funds, you can spread your money across different sectors of the market and reduce your exposure to any one particular stock.

Overall, investing in index funds is a smart way to turn $15k into $100k over time. With Acorns, you can start investing today with just a small amount of money and watch your portfolio grow over time.

Invest in Real Estate Debt

One way to turn your $15k into $100k is to invest in real estate debt. Real estate debt is a type of investment where you lend money to a real estate developer or investor, and they pay you back with interest. This can be a profitable investment strategy, as real estate developers and investors often need financing for their projects.

Groundfloor is a real estate lending platform that allows you to invest in real estate debt. They offer short-term loans to real estate developers and investors, and you can invest as little as $10 in each loan. Groundfloor offers returns of up to 12% on their loans, which can be a great way to earn a profit on your investment.

Investing in real estate debt can be a great way to turn your $15k into $100k. By lending money to real estate developers and investors, you can earn a return on your investment without having to deal with the hassles of owning real estate yourself. Groundfloor is a great platform to use for this type of investment, as they offer high returns and low investment minimums.

Flip Things

Flipping items can be a great way to turn your $15k into $100k. This method involves buying something at a low price and then selling it at a higher price, making a profit in the process. Here are some things you can flip:

While flipping can be a profitable business, it also comes with risks. You need to do your research and make sure you are buying items at a low enough price to make a profit. You also need to consider the costs of refurbishing or repairing items before selling them.

Flipping can be a good option if you have a keen eye for a bargain and are willing to put in the effort to make a profit. It can be a good way to make money quickly, but it also requires careful planning and execution.

Invest in Cryptocurrency

If you’re looking for a high-risk, high-reward investment opportunity, then cryptocurrency might be the right choice for you. With the right strategy, you could turn your $15k into $100k or more in a relatively short period of time.

One popular platform for trading cryptocurrencies is Binance. With Binance, you can buy and sell a wide range of cryptocurrencies, including Bitcoin, Ethereum, and Litecoin. Binance is known for its low fees, which can help maximize your returns.

However, it’s important to remember that cryptocurrency is a highly volatile market, and there is a significant amount of risk involved. It’s important to do your research and develop a solid trading strategy before investing any money.

Diversifying your portfolio is also crucial when investing in cryptocurrency. By spreading your investment across several different cryptocurrencies, you can minimize your risk and potentially increase your returns.

Keep in mind that cryptocurrency trading can be complex, so it’s important to educate yourself on the market and the various trading strategies available. With the right approach, you could turn your $15k investment into a significant return.

Start a Business

Starting a business can be a great way to turn your $15k into $100k or more. However, it’s important to remember that starting a business comes with its own set of risks and challenges. Here are some things to consider before starting your own business:

Starting a business can be a great way to make money and build wealth. However, it’s important to do your research and understand the risks before investing your money. With the right idea and execution, you can turn your $15k into $100k or more.

Invest in REITs

Real Estate Investment Trusts (REITs) are a great way to invest in real estate without having to purchase physical property. REITs are companies that own and operate income-producing real estate, such as apartment buildings, shopping centers, and office buildings. By investing in REITs, you can diversify your portfolio and potentially earn a higher return than traditional real estate investing.

REITs can be traded on the stock market, making them a convenient way to invest in real estate. They are also required to distribute at least 90% of their taxable income to shareholders in the form of dividends, making them an attractive investment for income-seeking investors.

However, like any investment, REITs come with risks. Market fluctuations can affect the value of REITs, and they may be impacted by changes in interest rates or the overall economy. It’s important to do your research and understand the risks before investing in REITs.

Overall, investing in REITs can be a smart way to diversify your portfolio and potentially earn a higher return than traditional real estate investing. Just be sure to do your due diligence and understand the risks involved.

Final Thoughts

There are plenty of ways to turn $15k into $100k – but I recommend sticking with proven methods like real estate investing or growing your money in the stock market.

Planting Our Pennies

Planting Our Pennies is a site dedicated to helping others reach financial freedom through passive income, investing, and making more money.