Investing is such a popular topic, because it’s something that’s essentially crucial to set yourself up for retirement. Even without considering inflation, just saving money would take years to set you up for retirement. However, when you consider the impact that inflation can have, especially today, it’s crucial that Canadians start investing and looking for the best stocks to buy as soon as possible.
However, despite how crucial investing is, often Canadians will put it off because they don’t know where to start. That’s understandable. However, the most important thing for investors is to at least begin investing.
Fear of loss is natural, but with discipline and a set plan, we can be confident in our strategy and the companies we’re buying.
What’s most important is to buy and hold for the long run. As Warren Buffett has explained many times, no matter what happens in the short term, the economy will always continue to keep growing and expanding over the long run thanks to innovation and new technology driving productivity gains.
So, buying the best companies and holding them for years is the simplest and best way to invest.
And if you’re looking to start investing today, here are two highly safe stocks to buy that you can start with and begin to build a portfolio around.
An ultra-safe Canadian stock that’s perfect if you want to start investing
One of the best stocks to buy for your portfolio, especially if you want to start investing, is Fortis (TSX: FTS)(NYSE: FTS).
Fortis is a utility company with operations all over North America. It’s an incredibly safe and defensive business that’s perfect for the core of your portfolio. And because the stock’s operations are so safe and so well diversified, the stock is one of the least-volatile investments that you can make.
Another benefit of buying a stock like Fortis is an attractive and safe dividend that is constantly being increased. In fact, Fortis is one of the oldest Canadian Dividend Aristocrats and has increased its dividend payments for almost 50 straight years.
If you’re looking to start investing and want to find the safest stocks you can buy, Fortis is, without a doubt, one of the best.
One of the best Canadian stocks you can buy and hold for decades
Another ultra-safe stock, and one that’s perfect for this environment, is Brookfield Infrastructure Partners (TSX: BIP.UN)(NYSE: BIP). Brookfield is one of the best stocks to buy now and an excellent choice if you’re looking to start investing because it’s another incredibly reliable company that you can own for decades.
As its name suggests, Brookfield owns a massive portfolio of infrastructure assets that are diversified all over the world. Some of those assets include utilities, just like Fortis. However, it also owns assets like railroads, telecom towers, and pipelines.
Plus, in addition to its highly defensive assets, much of Brookfield’s revenue is tied to inflation, while most of its costs are fixed. So, in today’s economy, Brookfield has the potential to see its margins expand considerably.
Therefore, it’s not only the perfect stock to buy for this environment; it’s one of the best investments to make if you’re looking to start investing today.
