The pitch of taking your money and doubling it is often central to the worst scams. However, in investing or saving for retirement, the goal of doing so isn’t just a tease to lure in the gullible—it’s an achievable target with the right strategies and, most importantly, patience. As such, while multiplying your wealth might conjure images of high-risk gambling or complex financial instruments, you should think instead of prudent, time-honored strategies that have worked for many before.

In financial terms, this means achieving a 100% return on your initial capital. This can be done through capital appreciation, dividend reinvestment, compound interest, or a combination. The time it takes to double an investment can vary from a few…