Want to Build Wealth? Buy This Proven Healthcare Stock
Since no two investors have the same plans and levels of risk tolerance, no two investment portfolios will be identical to each other. Although the goal for all investors is to build enough wealth to fund their ideal lifestyle, one key way to do that is by leveraging what goes into your portfolio.
Elevance Health (NYSE: ELV), formerly known as Anthem, has been a tremendous compounder in recent years: A $10,000 investment in the stock made five years ago would now be valued at $20,000 with dividends reinvested. For context, that's better than the $18,000 that the same investment amount in the S 500 index would now be worth. Let's look at three reasons why Elevance Health remains a buy for investors seeking to grow both their wealth and dividend income.
Out of all industries across the global economy, the prospects of the health insurance industry could be one of the most promising. After all, the rise in chronic diseases (e.g., heart disease and cancer) that accompany a growing global geriatric population are driving higher demand for health insurance plans. This is precisely why market research company Fortune Business Insights thinks that the global health insurance market will increase from $2 trillion in 2020 to top $3 trillion in 2028.
Source Fool.com
