Only 30% of Americans 18-29 Feel on Track for Retirement; 3 Stocks They Should Buy Now and Hold for Decades.
While many young Americans might be statistically behind on retirement planning, the good news is that people under the age of 30 still have a lot of time to catch up. Time is the friend of a long-term investor, and Americans in their 20s still have plenty of it.
Even starting with no savings, if you saved $500 per month at a 10% annual return (the average market return over the last century), your stocks would be worth $8.6 million in 50 years. Doubling your monthly savings or slightly increasing the rate of return would increase that amount substantially.
If you're already maximizing your retirement savings and want to outperform the average market return to hit your financial goals sooner, it can be done with the right growth stocks. The key is to invest your money in established companies that are demonstrating leadership in their respective markets and have already been growing for several years. These winners can usually be found among the brands and services you use every day.
Source Fool.com
