Could Pfizer Stock Help You Become a Millionaire?
To grow an investment to $1 million, you need patience, plus a decent amount of money to put into a stock in the first place. For instance, if you were only to invest a nest egg of $5,000, you would need the stock to become a 200-bagger in order to reach that mark. Over a 25-year stretch, that would require average annual returns of close to 24%.
But if you were to invest $50,000, then it would take a 20x return to hit that million-dollar mark. That would require more-realistic annual gains of 13% over the same theoretical 25-year time period.
That's a lot of money to invest in one company, but if it's the right one, it could result in a big payoff. One stock that has been performing incredibly well in the past few years and has the potential to be a solid long-term buy is healthcare giant Pfizer (NYSE: PFE). It has strong fundamentals, and long-term gains are likely. But could it be a millionaire-making investment?
Source Fool.com
