Investing in stocks is a great way to save for retirement. With enough time, even modest sums invested regularly can grow significantly and help people become rich — or at least significantly richer — by the time they are ready to leave the workforce. However, it’s crucial to invest your money in the right stocks, as many will destroy their shareholders’ wealth or lag behind the broader market.
Two companies that are worth serious consideration are Shopify (NASDAQ: SHOP) and Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL). These growth stocks could double in value over the next five years, delivering a compound annual growth rate of 14.9%. And even beyond the end of the decade, Shopify and Alphabet have excellent prospects.
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