Investing in growth stocks is generally seen as a pathway to riches. However, this category of stocks come with a good dose of risk. Growth stocks have witnessed significant erosion of capital in recent times, especially during times of overall economic or market uncertainty.

So instead of investing only in growth stocks, a better strategy might be to add some value or income-generating (aka dividend) stocks to a growth mix. That way, if some growth stocks don't take off, your bases are covered.

If I have to go with just three stocks to create a balance portfolio, I'd consider two hot growth stocks, SoFi Technologies (NASDAQ: SOFI), (NASDAQ: MELI). The third slot, I'll choose the solid dividend payer, Costco Wholesale (NASDAQ: COST), a business that still has plenty of growth potential left but with lower risk, and this stock should counteract the two fast growers to form a balanced stock portfolio.

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Source Fool.com