Want $1 Million in Retirement? 3 Stocks to Buy Now and Hold for Decades

There are many pathways to a million-dollar retirement portfolio. For example, investing $300 per month into an investment earning 10% annually would grow into $1 million in about 34 years. That's a very achievable return. It's slightly less than the average annual return of an S&P 500 index fund over the last 30 years. 

Meanwhile, you could become a millionaire even faster by increasing your monthly investment or finding higher-return investments. Many stocks offer the potential of earning a high sustained total return over the years to come. Brookfield Renewable (NYSE: BEPC)(NYSE: BEP), Blackstone (NYSE: BX), and Mid-America Apartment Communities (NYSE: MAA) have delivered high returns over the years, which seems likely to continue in the future.

Brookfield Renewable Partners has delivered an outstanding 16% average annualized total return since its formation over 20 years ago. The renewable energy producer has grown its earnings brisky by acquiring and developing income-producing renewable energy assets. That has given it the power to increase its above-average dividend (currently yielding 4.7%) at a 6% compound annual rate.

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Source Fool.com