$300 a Month in These 2 Stocks Could Make You a Millionaire by Retirement
The downturn in the markets has many people doubting whether they will meet their retirement goals. But growing your money through the stock market simply boils down to owning shares in a group of companies that grow over many years. As Benjamin Graham, the mentor of the world's most famous investor Warren Buffett, once said, "In the short run, the market is a voting machine, but in the long run, it's a weighing machine."
If you invest $300 per month and earn an average annual return of 12% on your investments, you will have slightly over $1 million in 30 years. The market has averaged close to 10% per year over the last 50 years, so to beat the market, we need to look for companies with above-average growth prospects.
It's equally important to choose companies with a competitive advantage. This factor increases the chance that the stock you buy will continue to compound in value for a long time. What follows are two stocks with these qualities that would make good candidates to dollar-cost average into over the long term.
Source Fool.com
