Finding the perfect mix of investments that can provide both growth and income can be a frustrating experience for some investors. Fortunately, the market provides us with plenty of options to consider, including these best stocks to invest $1,000 in.
And because the importance of diversifying can’t be overlooked, prospective investors can start a portfolio of the best stocks to invest $1,000 in.
Image source: Getty Images
Start with this growth-heavy, tasty income-earning pick
One of the best stocks to invest $1,000 in right now is Restaurant Brands International (TSX:QSR). RBI is the name behind well-known fast food brands including Burger King, Tim Hortons, Popeye’s and Firehouse Subs.
In terms of growth, RBI has always boasted an aggressive appetite for growth. The company currently boasts a whopping 30,000 locations in over 100 countries. Over the next five years, RBI forecasts that number to increase to 40,000 restaurants, with a whopping $60 billion in sales and $3.2 billion in adjusted operating income.
Throw in a juicy quarterly dividend that currently offers a yield of 2.94%, and you have one of the best stocks to invest $1,000 right now.
Banking on this stock to help your growth
No list of the best stocks to invest $1,000 in would be complete without mentioning one of Canada’s big banks. That bank to note today is Canadian Imperial Bank of Commerce (TSX:CM)
Besides its mature domestic segment that generates a recurring and stable revenue stream, CIBC also boasts a very handsome dividend. As of the time of writing, the yield on that quarterly dividend works out to an impressive 5.27%.
More importantly, investors with longer investment timelines can use that stable revenue stream to their advantage. By reinvesting those stable dividends, investors can let that CIBC investment grow on autopilot for decades.
Oh, and let’s not forget that CIBC has an established cadence of generous annual upticks to that dividend.
Generate a lucrative income on autopilot
Another one of the great stocks to invest $1,000 in right now is Enbridge (TSX:ENB). Enbridge is best known for its massive pipeline network, and for good reason. The segment, which includes natural gas and crude, comprises the bulk of Enbridge’s revenue.
More importantly, thanks to the sheer volume transported, Enbridge’s pipeline business is an incredibly defensive option for any portfolio.
Interestingly, what most investors may not realize is that Enbridge has several other segments that contribute to its bottom line.
That list includes North America’s largest natural gas utility and a growing renewable energy business. Both of those segments are growing and provide an increasing amount of revenue for the company. They also increase the defensive appeal of the stock even further.
Collectively, those segments generate ample revenue for the company to invest in growth and payout one of the best dividends on the market.
As of the time of writing, Enbridge pays an insane 7.50% yield, handily making it one of the best-paying dividends on the market.
Enbridge is easily one of the best stocks to invest $1,000 in now. And like CIBC, that dividend continues to grow, meaning it’s a great buy-and-forget candidate with three decades of increases.
The best stocks to invest $1,000
No stock, even the most defensive, is without some risk. Fortunately, the three stocks mentioned above can provide a good start to building out a well-diversified portfolio.
Buy them, hold them and watch them grow.
