BEPC - Want $1 Million in Retirement? 2 Stocks to Buy Now and Hold for Decades.
2024-03-30 06:37:00 ET
Building a $1 million retirement portfolio is probably easier than you think. For example, putting $300 a month into an investment earning 10% annually (about the average return of the S&P 500 over the last 30 years) would grow to $1 million in about 34 years. Increasing your investment or returns could make you a millionaire even faster.
Enbridge (NYSE: ENB) and Brookfield Renewable (NYSE: BEPC) (NYSE: BEP) have demonstrated their abilities to deliver above-average returns over the years. That should continue in the future, making them great stocks to buy and hold if you're seeking to build a $1 million retirement portfolio.
Enbridge has delivered an average total shareholder return of 11.2% annually over the last 20 years. That has outperformed the S&P 500 (9.7% average annual total return) and its peers in the utilities and midstream sectors (8% and 7.7%, respectively).
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Want $1 Million in Retirement? 2 Stocks to Buy Now and Hold for Decades.