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

If you're dreaming of a million-dollar retirement nest egg, it's crucial to start investing now and choose the right stocks. Here are three stocks that offer compelling long-term growth potential and are well-suited for a retirement portfolio.

1. Amazon (AMZN -1.02%)

Amazon, the e-commerce and cloud computing giant, has consistently delivered impressive growth. Its dominant position in both e-commerce and cloud computing through Amazon Web Services (AWS) makes it an attractive choice for long-term investors. With e-commerce sales growing by 37% in 2021 and AWS revenues surging by 37% in the same year, Amazon's growth prospects remain strong.

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2. Meta Platforms (META -0.76%)

Meta Platforms, formerly Facebook, boasts a user base of 3.29 billion daily active users across its social media platforms. Its investment in augmented reality (AR) and virtual reality (VR) technologies, as well as artificial intelligence (AI), positions it for future growth. As AR/VR adoption increases and AI becomes more prevalent, Meta is well-positioned to capitalize on these trends.

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3. Vertex Pharmaceuticals (VRTX -0.54%)

Vertex Pharmaceuticals is a biotech innovator with a strong pipeline of therapies for rare genetic disorders and chronic diseases. Its potential curative therapies for type 1 diabetes and other chronic diseases, along with its track record of successful clinical trials and commercial launches, make it an attractive long-term investment.

Investors should remain vigilant about the risks associated with long-term holdings, such as geopolitical factors and market volatility. Diversifying your portfolio across sectors, asset classes, and geographies can help mitigate these risks. Additionally, staying informed about market trends and maintaining a balanced perspective can enable you to make informed decisions and adapt to changing market conditions.

In conclusion, Amazon, Meta Platforms, and Vertex Pharmaceuticals offer compelling long-term growth potential for retirement investors. By diversifying your portfolio and maintaining a balanced perspective, you can mitigate risks and maximize the potential of these stocks. Start investing now and hold these stocks for decades to grow your retirement nest egg.