Want $1 Million in Retirement? 2 Stocks to Buy Now and Hold for Decades.
Building a $1 million retirement nest egg is achievable for many people. It all boils down to a combination of time, returns, and contributions. The more you have of each one, the more likely you'll become a millionaire retiree. For example, investing $300 a month into something that returns 10% annually (roughly the average stock market return over the past 50 years) will grow into $1 million in about 34 years. Increasing your contributions or returns can make you a millionaire even faster.
Many companies have excellent track records of delivering above-average total returns. NextEra Energy (NYSE: NEE) and Brookfield Infrastructure (NYSE: BIP)(NYSE: BIPC) stand out for their ability to deliver strong returns, which seems highly likely to continue. That makes them great stocks to buy and hold as you seek to build a $1 million retirement nest egg.
NextEra Energy is a utility with an exceptional track record of growing value for its investors. Over the last decade, the company has grown its adjusted earnings per share at a 10% compound annual rate. That has helped power 11% compound annual growth in its dividend. Those two catalysts have given it the fuel to deliver a 15% average annualized total return over the past 10 years.
Source Fool.com
