4 Stocks to Help You Retire a Millionaire

How many years does it take to become a millionaire? It depends on the stock you choose and the amount you choose to invest.

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So, you want to retire a millionaire? For that, you have to take the risk and invest in the future and not in the present, for it is the future that drives growth. The present only gives dividends. To retire a millionaire, you have to keep investing regularly in stocks that tap future trends.

Stocks that could make you a millionaire 

The 2030 decade will change the way people shop, drive, and pay. You have already seen a glimpse of that change last year during the pandemic. Here are four stocks that have the potential to rise 10-fold in 10 years as they shape the future. 

Lightspeed stock

Lightspeed POS (TSX:LSPD)(NYSE:LSPD) stock has surged threefold from $30 to over $100 in 18 months. You may call it the growth spree or the historic moment for Lightspeed. But now, the question is whether this growth is sustainable.

Lightspeed is a Software-as-a-Service (SaaS) company. A SaaS company needs a sticky product that merchants want to hold on to for the long term. The pandemic gave Lightspeed just that. The company’s platform enables merchants to check inventory, take orders and receive payments online, operate e-commerce stores, offer curbside pickup, and more. The company has just begun growing. Its roadmap includes the following:

  • Adding new services like Lightspeed Payments, Capital, and Supplier Network;
  • Expanding in new geographies; and
  • Broadening across different verticals like golf courses, sports, and more. 

This roadmap, if implemented correctly, can help Lightspeed stock surge 10-fold in 10 years. 

Magna stock 

Magna International (TSX:MG)(NYSE:MGA) is changing the way automotive works or, I should say, the way automotive is manufactured. Remember when only the rich had the luxury of wheels? Over the years, cars have come to every household. Now, these combustion vehicles have become a problem. Countries worldwide are moving to greener alternatives, and electric vehicles (EVs) are one of the most promising alternatives. 

Tesla is the leader in EVs, but other automakers are catching up fast. Even tech companies are entering EVs, and Magna is their preferred third-party manufacturing partner. Magna is not just eyeing EVs but also trying its hands in the autonomous vehicle (AV) arena. 

In all, I can say is that Magna will be at the centre of the sea change in the automotive industry. And the components it provides, like seatbelts, exterior structure, and Powertrain, will be there in cars of the future. 

BCE stock

BCE (TSX:BCE)(NYSE:BCE) is the telecom giant of Canada. It enjoys telecom infrastructure supremacy and the 5G revolution. The stock may not surge 10-fold but can hedge your risk of downside. The company earns cash from subscriptions and uses it to pay dividends and expand infrastructure. 

In the 4G revolution from 2010 to 2020, BCE stock surged over 115% and increased its dividend at a compounded annual growth rate (CAGR) of 6.4%. The 5G potential is bigger than 4G. The 5G will not only connect phones and laptops, but also cameras, cars, drones, and anything to the internet. The subscriptions revenue will reach a new level, driving dividend growth. 

Even if Elon Musk’s Starlink satellite internet grows in popularity, it is unlikely to replace 5G. The 5G towers and satellites will likely co-exist.  

Hive stock

Hive Blockchain Technologies (TSXV:HIVE) can grow 10-fold and even more in the coming 10 years. If the cryptocurrency succeeds in becoming the alternative to fiat currency, Hive will be the key beneficiary being one of the oldest Bitcoin and Ethereum miners. Hive stock surged ninefold in the last 10 years, while crypto has not been mainstream and is struggling with regulators. You can only imagine the possibility if crypto becomes mainstream.

Hive is going beyond crypto and exploring the power of blockchain computing. It is increasing its high-performance computing capacity in an environment-friendly manner. 

Foolish thoughts 

The above four stocks are investing in the future. Investing in such stocks could make you a millionaire in 15-20 years. 

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor. We’re Motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content.

Fool contributor Puja Tayal has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Lightspeed POS Inc and Tesla. The Motley Fool recommends Magna Int’l.

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