What’s the simplest way to double your money? The punchline of an old joke will tell you to hold your cash up in front of a mirror. Sadly, that method doesn’t increase your wealth or purchasing power even a little bit. A better strategy is to put your cash in the stock market, where you can rely on simple concepts to double its actual, spendable value. Here are three of those concepts to get you started.
1. 401(k) employer match
Employer match is the easiest and most reliable way to double your money in an investment account. All you have to do is contribute to your 401(k) and then stay with that employer until you’re fully vested. Your employer funds your account when you do, according to a predetermined formula. Some employers match dollar-for-dollar — meaning that you’re doubling your money at least every other paycheck. Read more…..
Chart of the Day
Precious metals are not done rallying in our current economic environment, and in the next bull run, silver is likely to outperform gold said Peter Marrone, executive chairman of Yamana Gold.