Investing in These 3 Stocks Could Make You Richer
It may be a bit easier than you think to make a lot of money. One solid way is to invest in great and growing businesses, and then to hang on through thick and thin, as long as the companies' growth potential and your faith in them remains intact. Adding more money into your best ideas over many years can help you get richer even faster.
Different people will define being "rich" in different ways. If you invest a single $5,000 sum for 20 years and it grows by, say, 10% annually, you'll end up with about $33,600. That probably doesn't qualify as rich in your book. (By the way, 10% is the long-term average annual return of the stock market. But don't forget that's a long-term average and the market also goes down.) If your investments averaged, say, 15% over 20 years (a tall order), you'd end up with close to $82,000.
But what if you invested that $5,000 every year -- or, better yet, invested $10,000 annually -- amd earned 8%? Well, then getting "rich" looks much more achievable:
Source Fool.com
