Want $1 Million in Retirement? Invest $50,000 in These 3 Stocks and Wait a Decade

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Written by Puja Tayal at The Motley Fool Canada

How can you convert $50,000 into $1 million in a decade? It sounds like a dream. To achieve that level of growth, you need a portfolio that can grow your money by 2,000% or 20 times in 10 years. If you look at the stock market index performance of the past decade, the Nasdaq 100 and TSX Composite Index surged 376% and 58%, respectively. Looking at the Nasdaq index, only tech stocks come even remotely close to the 20 times growth in 10 years.

Five tech stocks that converted $50,000 to $2 million in a decade 

Taking a hypothetical scenario, you got lucky and invested $10,000 each in five of the best-performing stocks on the Nasdaq in October 2013. At that time, Microsoft and Apple were already large-cap companies enjoying their glory. Tesla (NASDAQ:TSLA), Nvidia (NASDAQ:NVDA), and Hive Digital Technologies were upcoming stocks, each popular for their futuristic technology that could revolutionize the industry.

As we discuss Nasdaq stocks, all the dollars in this article are U.S. dollars.

Here is how your investment would have looked in U.S. dollars.

Stock Tickers

Investment amount

Stock price (Oct 4, 2013)

Stock price (Sep 19, 2023)

Number of Shares

Value of Shares (Sep 19, 2023)





































Let’s look at Nvidia, the best-performing stock, which grew 110-fold in 10 years. It surged on the back of the e-sports boom, the crypto boom, and the artificial intelligence (AI) boom. If you’d invested in Nvidia in October 2013, when it traded at just US$3.9 per share, US$10,000 would have brought you 3,205 shares. Today, the stock trades at US$433.24 per share, converting your US$10,000 to US$1.39 million.

Do these stocks still have the potential to rewrite the magic and give similar returns in the coming decade?

Three stocks that could make you a millionaire in a decade

It is impossible to predict the future with certainty. But you can make an educated guess and invest in five to 10 stocks with the potential to grow 10-fold and above. To identify such stocks, look at future trends that could revolutionize the industry. Then find the companies at the cusp of a revolution.

Autonomous vehicles

Among the five stocks discussed above, Nvidia and Tesla still have the potential to grow 10-fold and above in the next 10 years. The two companies are in the advanced stage of bringing autonomous vehicles (AV) on the roads and tap the supplementary verticals.

Nvidia’s automotive segment has been developing chips that will go into self-driving cars. Its data centre graphic processing units (GPUs) have been working on training the computers. Nvidia’s GPUs are unbeatable in AI computing, which gives it an edge among other players.

Even Tesla is looking to make it big in the AV revolution. It is building an entire ecosystem:

  • supercomputer “Dojo” will train the computer for self-driving.

  • AI chips that go inside Dojo and its full self-driving technology.

  • Robot Optimus Humanoid to manufacture Tesla cars.

Tesla is using its learnings from electric vehicles to build a data-driven telematics ecosystem that provides electric charging, green energy supply, car insurance and much more. This ecosystem could give Tesla a lead in bringing AVs on the road. Because AVs will need different regulations, maintenance, and insurance coverage than traditional cars. Tesla is looking to monetize its AVs through Robotaxi services.

Tesla is like Apple in 2012 when the smartphone trend was accelerating.

Green hydrogen stock

Ballard Power Systems (TSX:BLDP) is working on hydrogen fuel cells, another future technology that could have widespread usage. The company has started receiving orders from commercial clients. Green hydrogen cells have the potential to make transportation a carbon-free sector. However, the technology still needs infrastructure and cost efficiency. Widespread use of hydrogen cells could grow Ballard Power Systems stock by 10 or 20-fold.

Bottom line

High-growth stocks come with high risk and could see high volatility in the initial stages. While $1 million in a decade is an ambitious target, high-growth stocks could bring you closer to the target, if not achieve it.

The post Want $1 Million in Retirement? Invest $50,000 in These 3 Stocks and Wait a Decade  appeared first on The Motley Fool Canada.

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Fool contributor Puja Tayal has no position in any of the stocks mentioned. The Motley Fool recommends Apple, Microsoft, Nvidia, and Tesla. The Motley Fool has a disclosure policy.