3 Stocks That Could Turn $20,000 Into $100,000 by 2030
Investing is one of the best ways you can build and grow your wealth to prepare yourself better for retirement. By allocating your money to promising, well-run growth companies, you can compound your funds over time to achieve that coveted pot of gold. Of course, it's important to select the right stocks to buy and hold, as a wrong pick could see you losing substantial sums of money as the business deteriorates over time.
So, you might ask, what qualifies as a great stock to own for the long term? Businesses that have a strong market position and competitive moat pass the first filter. This attribute allows them to weather the economic downturns that periodically crop up. The company should also sport a great track record of consistent growth and possess catalysts that can sustain its long-term development. These catalysts may include a clear strategic roadmap or trends that will persist for the future.
Here are three stocks that could multiply your investment by five times or more by the end of this decade.
Source Fool.com
