Investing in These Stocks Now Could Make You a Millionaire Retiree
To paraphrase the late Senator Everett Dirksen, “A million here, a million there, and soon you will be talking about real money.”
For many people, becoming a millionaire is a goal in life that seems far too difficult to achieve to ever become a reality. But it is actually quite doable, even for those of very modest means. What it takes, however, is a certain amount of discipline to save, defer spending, and invest.
Even small amounts of money added to a portfolio can grow to a million dollars if you start early and invest frequently in good companies that can grow over time. Here are three that might help you achieve what seems unattainable right now: the goal of becoming a millionaire retiree.
Amazon.com: the possibilities are endless
There doesn’t seem to be anything stopping further growth Amazon.com (NASDAQ: AMZN). The e-commerce giant continues to add luck to its oversized potential, generating sales and profits that analysts expect to continue as far as the eye can see.
eMarketer predicts that Amazon will account for nearly 40% of all online sales this year, and although more competitors are coming in second every day Walmart have less than 6% share.
Beyond retail, Amazon’s cloud business, Amazon Web Services, continues to grow, generating revenue of $ 11.6 billion in the third quarter. And while AWS is very profitable for the online giant, it no longer has to carry the profitable weight on its own, as its e-commerce operations have become very profitable on their own.
This one-two punch is terrifying for most competitors. For example, Amazon’s announcement to open an online pharmacy – a not unexpected development since it acquired PillPack – sent shares in Walgreens, CVS, and Rite help tumble. While everything Amazon touches doesn’t turn to gold, its track record is solid enough to worry established players.
Innovative Industrial Real Estate: A REIT for the Marijuana Industry
Regardless of your position on marijuana, the legal weed industry is here to stay and will turn into a billion dollar opportunity if adoption gains ground. As more states legalize marijuana, it all depends on when and not if the federal government follows suit.
However, the pot producers themselves have been a success or failure, which is why investors should take a look Innovative industrial real estate (NYSE: IIPR), a real estate investment trust that purchases indoor acreage for medical marijuana operators and then signs long-term leases for them.
It specializes in triple net leases or those where the tenant is responsible for paying insurance, maintenance, and property taxes on the property. The company generated $ 43.4 million in rental income in 2019, increased that to over $ 76 million in the first three quarters of 2020, and analysts predict it will grow to $ 280 million by 2023.
According to data from Arcview Market Research and BDS Analytics, legal marijuana sales in the U.S. are projected to grow from an estimated $ 12.2 billion in 2019 to over $ 31 billion in 2024, meaning Innovative Industrial Properties has a long, green growth path.
Teladoc Health: The Right Prescription for Growth
There is no question that the coronavirus pandemic has helped the growth of Teladoc health (NYSE: TDOC), which increased 150% in 2020 when doctors remotely consulted patients during lockdown. Consumers also appreciate the convenience of telehealth services that no longer have to sit in a doctor’s waiting area to wait.
The massive $ 18.5 billion acquisition of Livongo Health is expected to bolster Teladoc’s potential. Livongo gathers data on patients and uses artificial intelligence to provide customers with “impetus” for personalized coaching in order to control health problems. It started out as a diabetes management platform but has since expanded to cover hypertension and behavioral health.
The virtual care market is growing rapidly and Teladoc is now a leading healthcare technology giant following the purchase of Livongo.