How to get effective return?

Question

i have about 3600 dollars and im off to college next year. i want to get a bike before i go which will cost me around 6k ish. the bank doesnt give good enough return and the stock market is way unstable. anyone got any ideas?

Answer 1

There really isn't any way to turn 3600 dollars into 6000 over the course of a year. Assuming the stock market turns around soon, you might be able to double 3600 dollars in eight years by investing in an index. I personally think that would be the best way to invest your money as I've had good results with an index (and my parent's retirement funds are largely in an index and they're living well)