2023-04-30 08:43:00 ET
The stock market has proven its ability to build wealth time and time again. However, patience is required, and investors seeking to realize optimal returns over the long term will need to contend with the ups and downs that the market inevitably presents.
If you have the capital to invest in the stock market, and a long-term buy-and-hold horizon, there is no shortage of incredible companies begging to be bought right now. Assuming your retirement is at least a decade or more away, here are two fantastic companies that could foreseeably multiply an initial investment by five times or greater over the coming years and help you move closer to your retirement goals.
Upstart (NASDAQ: UPST) built a business around an idea designed to revolutionize the lending space. Rather than relying almost exclusively on the FICO score to determine loan approvals or denials -- a process that has historically left significant swaths of the potential creditworthy population out of the picture -- Upstart's AI and machine learning-based platform leverages more than 1,000 unique data points to assess whether or not a consumer should be approved for a loan.
For further details see:
2 Stocks That Could Turn $200,000 Into $1 Million by the Time You Retire