How to Turn $10k Into $100k

According to a study published by CNBC, people’s well-being rises with the amount of money they make. But what if you’ve reached the upper limit with your salary and you’re still looking for more? What if you want to increase your $10k savings tenfold

In this article, I’ll share with you the best investment options to consider and how you can take advantage of them to maximize your returns. 

So, whether you’re looking for a passive income stream or a way to grow your money for retirement, keep reading to learn how to turn $10,000 into $100,000 or more.

Let’s dive in. 

How to Turn 10k into 100k – 9 Different Ways to Financial Freedom

Start Investing In Index Funds 

Starting to invest in index funds is a wise choice for anyone looking to grow their wealth and to 10x their $10,000. Index funds are a type of passive investment that tracks a stock market index – such as the S&P 500 – by holding a representative sample of the stocks in that index.

Clear bottle with label "savings" filled with coins
  • The beauty of index funds is that they provide broad market exposure, which reduces risk and increases the chances of long-term success.
  • Index funds are also relatively low risk, low-cost and easy to manage, making them an attractive option for new and experienced investors alike.
  • Unlike actively managed funds, which rely on a fund manager to make investment decisions, index funds simply mirror the performance of the underlying index.
  • This eliminates the need for costly research and analysis, and results in lower fees for investors.
  • Furthermore – index funds have historically outperformed actively managed funds, making them a smart choice for those looking to maximize their returns.

Take a look at this chart from – it shows just how (apart from 2022) Index Funds have grown year on year for the past 3 decades: 

Graphic image for a chart depicting the S&P 500 total return level % change
  • To start investing in index funds, all you need is a brokerage account and a little bit of money to get started. ($10k is plenty to begin) 
  • To be able to buy index funds, from there, you can choose from a variety of index funds that suit your investment goals and risk tolerance.

Top Tip: Whether you’re looking to build a diversified portfolio or simply grow your savings, index funds offer a reliable and low-cost way to achieve your financial goals. Just definitely do your homework first – that 2022 dip should be on your radar.

Start An Online Business

Starting an online business can be a lucrative way to turn your 10k into 100k, but you don’t have to stick to the usual e-commerce or dropshipping models. 

Here are a few out-of-the-box ideas to consider:

  • Launch an online course: Utilize your expertise in a particular field to teach others and earn income through course sales.


Authority Hacker are behind probably the most respected courses for building profitable websites. And with courses starting at $997 each (and a lot higher on their premium tiers) – it’s safe to say these guys are easily each making 6 figures a year with them. 

Or how about PF Geek’s very own Jared Bauman who combined his passion for marketing and photography to create a course that teaches photographers how to best market their photography business.

  • Offer freelance services: Use platforms like Upwork to showcase your skills and offer services to clients globally.

Once you build some traction on Upwork or Fiverr you can invest in yourself by setting up a portfolio website, paying for a strong logo and more – and you can do it for a lot less than $10k.

My research has found that 60% of freelancers who left a full-time job to become freelancers make more money than they did in their previous job.

And then there’s the success story of Muhammad Qasim who worked his way up to $100,000 on Upwork as a UX UI/Product Designer.

Woman sitting on her chair while using her laptop
  • Develop and sell digital products: Create and sell digital products, such as ebooks, printables, or templates, to a specific niche market.
  • Start a blog: Monetize your blog through affiliate marketing, sponsored posts, and ad revenue.
  • Launch a subscription box service: Subscription boxes are all the rage, and you can get in on the action by launching your own unique service. Whether you’re offering products or services, this model allows you to build recurring revenue streams.
  • Start a virtual assistant business: As a virtual assistant, you can offer administrative support and other services to entrepreneurs and businesses. You can easily scale your business as you take on more clients and hire more staff.

Example: While you might not be the next VirtuDesk (who make a staggering $6 million a year), you could certainly grow your VA business to $240K a year like BrainSpace Optimized  

  • Launch a productized service business: If you’re skilled at a specific task or service, you can package that into a productized service and sell it to your target audience. This allows you to set a clear price point and streamline your sales process, making it easier to grow your business.

Remember, the key to success with any online business is identifying a problem that your target market has and finding a unique solution to solve it. 

Conduct market research, validate your business idea, and focus on creating value for your customers to increase your chances of success.

Make Money With Retail Arbitrage or Flipping

Gary Vaynerchuk is living proof that retail arbitrage and flipping can be a lucrative investment strategy. 

Here’s what you need to know to get started:

  • Start small, by scouring garage sales, thrift stores, and online marketplaces for underpriced products with high resale value.
  • Research demand for the products you find, and determine the most profitable selling platform for your target market.
  • Master the art of negotiation, and develop a keen sense for spotting deals that are too good to pass up.
  • Stay up-to-date on the latest market trends and shifts, and be willing to adapt your strategy accordingly.

I was on the fence about including this one because of how saturated this industry is now. But there’s still some treasure to be found out there. 

Take this Business Insider story of how a 24-year-old made over $300,000 in revenue selling on Amazon in 2022 – and use it as the fire in your belly to start in the world of retail arbitrage. 

Invest In a High Yielding Savings Account 

This one requires a few things:

  • The beauty of compound interest at work
  • A lot of patience on your side – but it’s a fantastic “set and forget” method 
  • $10,000 initial deposit
  • $500 of disposable monthly income you can save into the account

Step 1: Choose a high yielding saving account from this list.

Step 2: Use the excellent Nerd Wallet Compound Interest Calculator

I’m choosing Primis Bank’s high yield interest account that offers 5.03%:

Graphic image of a budget sample for automated monthly savings

And here’s what I’ll get after 11 years of steady monthly saving:

Graphic image for a chart depicting the projected value of savings for 11 years

Top Tip: It’s definitely not one for the impatient – and you’ll need to be able to constantly save $500 a month – but this is one of the safest ways to grow your $10,000 into $100,000. And it’s all down to a high yielding savings account coupled with the greatness of compound interest.   

Turn Your Passion into a YouTube Channel

While blogging is quite risky at the moment with Google constantly rolling out updates, YouTube has never been more popular. And while you might be thinking “I’m too shy to talk about my passion on camera” – you don’t need to!

Take this channel about Finance called Chris Invests as a great example. 

Chris Invests website image and tagline
  • There are approximately 200 videos on the channel and they’re a nice bite sized watch at about 10 mins each. 
  • Chris is never himself in front of the camera, instead he uses animations –  likely made with a software like this – to convey very useful financial advice in a straightforward way. 
  • YouTube ad revenue seems to be the main way he has monetized things and from looking at the stats on Social Blade, he could be making anything from $500 to $8,000 per month in ad revenue. 

In reality, he’s probably closer to making the top end of that range of $8k – maybe even more (Social Blade tends to underestimate revenues for YouTube, but it’s the best metric online at the moment).

This is because companies are willing to pay a premium to be placed on advertisements on anything involving Finance on YouTube – which makes sense, right? 

Let’s presume 8 grand a month, times 12 = $96,000 a year, and I am well on my way to $100,000. 


Could you buy the camera equipment, a good USB microphone (great ones can be as little as $150) and the animation software for less than $10k? 

Yes, easily – and you’ll have plenty left over to grow any Socials, get a foothold on Tik Tok and more. 

Chris Invests is a great example of a successful YouTube channel where the creator doesn’t show their face and they’ve taken their passion to a sizeable audience. 

With a little planning, some investment and plenty of tenacity there’s no reason why you can’t do the same. 

Two storey house with wet pavement

Start Investing In Real Estate

Starting with just $10,000 to invest in real estate can feel overwhelming, but there are options available that can help you make the most of your limited funds. Consider the following options for making your investment dollars go further:

  • Fix-and-flip projects: If you have some handyman skills, consider investing in a fix-and-flip project. The idea is to buy a property that needs some work, renovate it, and sell it for a profit. This can be a riskier investment, but with a carefully researched project, it can result in significant returns.
  • Crowdfunding: Crowdfunding platforms like RealCrowd and Groundfloor allow you to invest in real estate projects with as little as $500. This can be a great way to diversify your investment portfolio and get exposure to a variety of different real estate projects.
  • Real estate investment trusts (REITs): REITs are a cost-effective way to invest in real estate and can be purchased for as little as $100. Consider adding a few to your investment portfolio to add some real estate exposure.

REITs in the United States saw a total return of over 43 percent in 2021 – that’s an incredible return on investment. 

  • House hacking: If you’re willing to get a bit hands-on, house hacking might be the way to go. This strategy involves purchasing a multi-unit property and living in one unit while renting out the others. This can be a great way to get started in real estate investing and potentially generate some residual income.

Top Tip: By exploring these options, you can begin to build your real estate investment portfolio with a smaller amount of capital – just remember to always do your own research and consult with a financial advisor before making any investment decisions.

Start A Service-Based Business

Starting a service-based business with just $10,000 and turning it into a $100,000 empire may sound like a pipe dream, but it’s achievable with the right strategy, creativity and – above all – moxie. You’re going to need truck loads of moxie – but it is achievable . 

  • Solve a problem: Identify a pain point in your local community and provide a solution. Maybe lawn care for local seniors that you then grow into a company, or handyman services for those in need in your community. 

The options are abundant these days because people are becoming more and more time poor

  • Home Cleaning and Organizing: If you have a knack for keeping things tidy and organized, you can start a home cleaning and organizing business. Offer your services to busy families, seniors, or busy professionals, and you’ll have no shortage of clients eager to pay for your expert cleaning and organizing skills.

Good to know: The cleaning industry continues to surge, with an impressive 20% growth rate annually – so it’s no surprise that the demand for cleaning services is also on the rise. 

Predictions estimate that a staggering 80% of households will utilize cleaning services by the year 2024, reflecting the mounting necessity for these services in a world that gets busier ever year.

  • Pet Care: If you love animals, starting a pet care business can be a great way to turn your passion into a profitable venture. Offer dog-walking, pet-sitting, and grooming services, and you’ll soon have a loyal customer base of pet owners who appreciate your care and attention to their furry friends.
  • Personal Training and Fitness Coaching: With a background in fitness, health, or wellness, you can start a personal training and fitness coaching business that helps people get fit and healthy. Whether you offer one-on-one coaching sessions, group fitness classes, or online training programs, you can help your clients reach their fitness goals and earn a great living doing what you love.
People crowding around a Fish and Chips food truck in a park

Purchase An Existing Business

By acquiring an already established business, you can take advantage of its existing customer base, infrastructure, and reputation to scale it to new heights. Here are a few ideas to consider:

  • Food Truck – Purchase a food truck that has already established a cult-like following. Up the ante by incorporating the latest food trends, and before you know it, you’ll be the talk of the local foodie scene.
  • If bikes are your passion you can invest in a local mobile bike repair service – Biking is becoming increasingly popular – my research finds that the global biking market will reach a value of USD 83.16 billion by 2028. 

With this growth is the need for quick, efficient bike repair services. You can take advantage of this trend by acquiring a mobile bike repair business and scaling it to meet the demands of your local market.

Here’s more, depending on where your passion lies: 

  • Scour the classifieds for a small fledgling coffee shop that’s ready to be taken to the next level
  • Seek out a popular local clothing boutique and add your own fashion-forward flair
  • Discover an up-and-coming beauty salon and pamper your way to success
  • Look for a landscaping business that’s stuck in a rut and help it reach new heights with your green thumb.

Top Tip: By investing $10,000 in an existing business, you can quickly establish yourself as a player in the industry, saving time and energy compared to starting from scratch.

Start An Etsy Store

Speaking of turning a passion into a revenue stream, here are a few tips and examples to get you started on an Etsy store. You can use $10,000 for stock, Etsy fees, Etsy promotion and more and grow it to 6 figures.

  • Identify a Niche: Choose a specific area of interest to specialize in, such as vintage jewelry, hand-painted pottery, or custom-made furniture – the more specific and unique your niche, the easier it will be to stand out and attract customers.

Top Tip: 

An Etsy keyword research tool can provide valuable insight into the most sought after keywords on the platform. By exploring the popular product pages and utilizing the detailed keywords and phrases found there, you can gain a better understanding of the current trends and potentially uncover new ideas and niche opportunities. 

Etsy keyword tool search bar

This tool can help you make informed decisions as you build and grow your Etsy store and get to $100k in revenue. 

  • Utilize Social Media: Building an online presence through social media can greatly increase visibility and drive traffic to your Etsy store. Utilize platforms like Instagram, Facebook, Tik Tok and Pinterest to showcase your products, share behind-the-scenes content, and connect with potential customers.
  • Network with Other Etsy Sellers: Joining online communities and participating in group promotions can help boost exposure and increase sales. Collaborating with other Etsy sellers in your niche can also lead to cross-promotion and increased visibility.
  • Offer Customizable Options: Offering customizable options for your products, such as personalization or custom color choices, can not only set your store apart but also increase customer satisfaction and repeat business.
  • Continuously Evaluate and Adapt: Regularly analyzing your sales and customer feedback will help you identify areas for improvement and stay ahead of the competition. Don’t be afraid to experiment and try new strategies to see what works best for your business.

With these tips in mind and a bit of determination, turning your $10,000 investment into a thriving Etsy store – and ultimately a $100,000 success –  is within reach.

In Brief: Also Worth Considering to Turn 10k Into 100k

Open Retirement Investment Accounts

  • Consider opening IRAs (Individual Retirement Accounts), 403(b) accounts, or 401(k)s through your employer
  • Explore options for Roth IRAs, traditional IRAs – or a mix of both
  • Consult with a financial advisor to determine the best choice for your specific goals and financial situation.

Invest in an Initial Public Offering (IPO)

Ok, this isn’t for the risk averse. But – for example – if you invested $10k in Amazon stock even ten years (or around 2010 to be exact), you’d have easily turned it into $100k.

Graphic image of a chart depicting the projected revenue if you invested in IPO

But  2010 is in the past and I don’t have a time machine, so let’s have a look at some upcoming IPOs. What companies on this “going Public soon” list grabs your eye? 

Disclaimer: I’m definitely not a stocks expert, but one interesting future IPO that has my attention is Tik Tok’s.

This company is a juggernaut and has the potential to grow even more. 

Just look at their trajectory: 

Graphic image of a chart depicting the TikTok quarterly revenue from 2017-2022

Absolutely do your own due diligence on any future IPOs before putting in $10k, but it’s worth looking into for the more adventurous investors. 


Can You Make Money Investing $10,000?

Investing $10,000 may seem like a significant sum, but with the right strategy, it can lead to substantial financial gains over time. 

Diversify your portfolio: Spread your investments across a range of assets, such as stocks, bonds, and real estate, to reduce your overall risk.
Consider your investment horizon: Long-term investments typically offer higher returns, but they also come with a higher level of risk. If you have a shorter investment horizon, consider a mix of low-risk, high-yield investments and riskier options with the potential for higher returns.
Invest in assets with high growth potential: Look for assets that have the potential to grow in value over time, such as technology stocks or emerging markets.
Seek professional advice: Consult with a financial advisor or investment professional to help you make informed investment decisions based on your specific financial situation and goals.

How Can I Double 10K?

Try these! 

– Try your hand at retail arbitrage or flipping, as Gary Vaynerchuk has demonstrated success with this strategy (and as I’ve shown above)
– Research alternative investment options, such as crowdfunding or peer-to-peer lendin
– Use basic and old school personal finance strategies like budgeting, saving, and reducing debt to free up more funds for investment opportunities. They might not be exciting, but they still work.

Key Takeaways

  • Index funds have historically outperformed actively managed funds and are a smart choice for maximizing returns. 
  • Starting an online business can be a lucrative way to turn $10,000 into $100,000. Ideas include launching an online course, offering freelance services, developing and selling digital products, starting a blog, launching a subscription box service, starting a virtual assistant business, and launching a productized service business.
  • Investing in real estate is another option to consider. REITs are a cost-effective way to invest in real estate – they saw a total return of over 43% in 2021.
  • Starting a service-based business with $10,000 and turning it into a $100,000 empire is achievable with the right strategy and creativity. Solving a problem, offering a unique service, or creating a profitable business model can help you reach your goal.
  • Consider acquiring an existing business – such as a food truck, a mobile bike repair service, a coffee shop, a clothing boutique, a beauty salon, or a landscaping business.Another option is to make money through retail arbitrage or flipping by finding underpriced products with high resale value and reselling them on the most profitable platform.
  • Investing in a high-yielding savings account can also help grow your $10,000, but it requires patience and a steady monthly contribution.
  • You can also turn your passion into a YouTube channel, like the finance channel “Chris Invests”, and monetize it through ad revenue.
  • Also on your radar should be: future IPOs, Etsy stores and IRAs. 

Wrapping up: The road to financial freedom requires dedication, discipline, and consistency – but with the right investment options and strategy, you can turn the $10,00 you were able to save in 6 months, into $100,000 or more. 

It’s important to focus on the long-term and be patient, as building to $100,000 takes time and effort (and – in some examples like Stocks- a little courage). 

Best of luck on your journey to six figures, and consider reading How To Counter Offer Your Salary next. It might just get you closer to $100k faster! 

Jason is a contributor at PFGeeks and has been figuring out ways to make money since the age of 12 when he organised a Connect 4 tournament in his school class. From the age of 15, he set up and ran a successful mobile Disco company that focused on everything from local parties to (eventually) corporate events for brands like Google and Hilton. Fast forward to 2020 and Jason went from part time writing to going all in on the content industry - it was a pandemic pivot that so far is reaping him rewards. For many years he was also a Radio producer and researcher, and it's this "leave no stone uncovered" methodology that Jason now brings to all his writing - believing that deep analysis is key to a strong article. When he's not brushing up on the latest Finance news or feeding his entrepreneurial side, Jason loves to solo travel, geek out on SEO trends and get some exercise in with long walks.

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