If You'd Invested $1,000 in Home Depot Stock 30 Years Ago, Here's How Much You'd Have Today
If you can imagine buying a stock and holding it for 30 years, you're ahead of the game. By following that kind of investing philosophy, you give yourself a good chance of beating the market and perhaps becoming a millionaire. At the very least, you're likely to retire much richer than you are today.
There's no way to know for sure what will happen to any specific investment, but if you do your due diligence and choose a diversified collection of great stocks, the chances are good that you'll have a hefty nest egg. Home Depot (NYSE: HD) is one such stock, and if you had identified its potential 30 years ago, your nest egg would be well padded now.
Investors often get excited about the latest trends and hyped-up stocks. Just look at what's going on with artificial intelligence. However, the danger with focusing your investments on hyped-up trends is that they can fade away and take your portfolio's value with them. And because nobody can reliably and consistently "time the market," you won't necessarily know when the right time is to pull your cash out of those trendy stocks.
Source Fool.com
