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$2,000 Invested in Each of These 3 Stocks Could Make You a Fortune in 10 years

Amy Legate-Wolfe
·4 min read
potted green plant grows up in arrow shape

There are still a lot of opportunities to make a fortune in today’s stock market. While it looks like a market rebound is underway, there are many analysts out there predicting further crashes down the line. It all comes down to the pandemic. As more waves of the pandemic come, more crashes are likely as well. Businesses and even industries will continue to be hit, resulting in lower earnings and more layoffs. So, what are you to do?

The choice is simple: find stocks that look good not just a year from now but a decade from now. That could leave you with a fortune in your portfolio if you look past today’s volatility. So, here are three options to get you there by investing just $2,000 in each stock.

Enbridge

Enbridge (TSX:ENB)(NYSE:ENB) has been lumped in with the rest of energy stocks, but it’s completely unfair. Enbridge is a pipeline company, and pipelines are the solution to today’s oil and gas glut. Enbridge is also ahead of the game, with a few projects already approved and in the polishing stages before building goes underway.

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This makes Enbridge the ideal long-term hold for fortune seekers. A decade from now, the company should have a number of pipelines up and running. This would bring its earnings through the roof, though the company is already secured by long-term contracts. That means its dividend and future growth are stable.

If you look at the past decade, Enbridge has come a long way. Growing by a similar trajectory and reinvesting dividends, a $2,000 investment today could be $14,059.13 in a decade as of writing.

Royal Bank

Another stock set to make a fortune is Royal Bank of Canada (TSX:RY)(NYSE:RY). Royal Bank is the largest bank of the Big Six by market capitalization. A lot of growth has come from the company in the last few years. The bank has expanded into the United States and is now moving to emerging markets in Latin America. Beyond that, it is solidly set up in the wealth and commercial management sectors, a highly lucrative industry.

Another strong long-term hold, investors should look past the housing market crisis and see this as a strong opportunity. A decade from now, Royal Bank will be leading the charge once again. Don’t believe me? Look at the last market crash where within a year Royal Bank was back at pre-crash prices.

In the past decade, Royal Bank has grown 98%. Meeting a similar trajectory and reinvesting dividends would turn a $2,000 investment into $8,469.01 in a decade.

Lightspeed

Now for a heavy hitter. While Lightspeed POS (TSX:LSPD) doesn’t have the history of the other stocks; it has the most opportunity. The tech company had the biggest initial public offering (IPO) in nine years in the Canadian tech industry. This comes from the growth in the e-commerce industry, where Lightspeed has taken on the area of retail and restaurants with its own point-of-sales system.

Of course, this area is exactly what’s been hard hit right now, but therein lies the opportunity to make that fortune. Once the rebound happens in the next decade, Lightspeed will soar. The company is already set up in over 100 countries, focusing on small- and medium-sized businesses. As Lightspeed expands, investors should see their initial investment skyrocket.

While it’s unclear how much a $2,000 investment could get you in a decade, looking at similar businesses, it’s likely you could add a zero onto the end of that $2,000 10 years from now.

The post $2,000 Invested in Each of These 3 Stocks Could Make You a Fortune in 10 years appeared first on The Motley Fool Canada.

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Fool contributor Amy Legate-Wolfe owns shares of ENBRIDGE INC, Lightspeed POS Inc, and ROYAL BANK OF CANADA. The Motley Fool owns shares of and recommends Enbridge. The Motley Fool owns shares of Lightspeed POS Inc.

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