Albert Einstein called compound interest the eighth wonder of the world. That's because it can do wonders for your money. For example, an investment that earns a 10% annual rate of return can double your money in about seven years.
You don't have to take as much risk as you might think to earn that level of return. For example, since 1973, the average dividend-paying stock has delivered a 9.6% annualized total return, according to data by Ned Davis Research and Hartford Funds. Meanwhile, dividend growers have done even better, producing a nearly 10.7% annualized total return.
With that as a base, two stocks that are likely to deliver steady dividend growth through the end of the decade are Brookfield Renewable (NYSE: BEPC) (NYSE: BEP) and Prologis (NYSE: PLD) . Because of that, $3,000 invested across these stocks could grow to more than $6,000 by 2030.
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Got $3,000? These Stocks Could Double Your Money by 2030