Anushka Rathod's Expert Advice: The Fastest Way to Double Your Money

The most frequent question people ask when they strive for more savings is, "How long will it take to double my money?" It all depends on the investment method you choose. To make this easier to grasp, here is a glimpse of how much time it would take to double your money with the help of financial expert Anushka Rathod.

Gold

Gold is considered a safe investment, with a long-term CAGR of approximately 11%. That is going to take roughly 6-7 years for your gold investment to double at this rate of return.

SmallCap 250

Small-cap stock includes smaller companies with a high growth prospect and therefore has a CAGR around 18%. If you invest in small-cap stocks, you can have the potential to double your money in about 4 years.

MidCap 150

Stocks represent companies of mid-level size, a bit more stable as compared to small caps, but that also means fabulous growth. Using it with a CAGR of 21%, you would double your money in about 3.5 years.

Index Funds

Another highly popular investment with stable returns is an index fund, which acts exactly like the original index. Such a fund usually has a CAGR of 14%, and this means that you will double your money in about 5 to 6 years.

Debt Fund

Debt funds, which invest in bonds or other fixed-income securities, offer a lower return of around 7-8% CAGR. At this rate, it will take 9 to 10 years to double your money.

Fixed Deposits

With an interest rate of 6-7%, fixed deposits are one of the safest options but offer lower returns. You can expect your money to double in about 10 to 12 years.

Saving Account

Lastly, savings accounts are the lowest in terms of return on investment, with interest rates ranging around 3-4%. That means it will take about 18 years to double your money.

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Normally, the time until your money doubles up is based on the percentage return on your investment. The higher your money in terms of growth, the faster you will hit your financial goals.