While inflation over the decades has reduced the value of $1 million, having that amount in your retirement account is still a great goal to strive for. It’s still far more than the $87,000 the average American household has set aside for retirement.
Upping your wealth-building game comes down to finding great companies, investing in them, and then letting years of growth compound and do the heavy financial lifting for you.
Industrials are a great place to look. These four remarkable companies help build (and rebuild) the modern world. Consider buying them. They can bring you closer to a bright financial future as part of a diversified stock portfolio.
1. Tesla
Electric vehicles (EVs) have gone from a niche product to an entire industry, and could eventually overtake gas engines as the primary technology in automotive. Tesla (NASDAQ: TSLA) played a massive role in making this happen, and the stock rewarded shareholders with life-changing returns over the past decade. It wasn’t always easy, but today, Tesla is a profitable company with over $95 billion in annual sales.
TSLA Total Return Price Chart
The EV giant delivered over 484,000 vehicles in the fourth quarter, while U.S. competitors like Ford Motor Company are struggling to grow their production numbers. According to J.D. Power, less than 1% of vehicles in America are electric. That leaves a long runway for Tesla to continue taking market share over the coming decades. That’s not including Tesla selling EVs globally and having multiple other businesses, including artificial intelligence and energy storage.
2. Caterpillar
Construction never stops, and the constant need to move large amounts of rock and earth has made Caterpillar (NYSE: CAT) a remarkable investment that’s beaten the broader market for years. Drive by any construction site, and you’ll probably spot the company’s famous Caterpillar yellow machinery. Caterpillar has become a diversified business that makes money by selling machines and financing and servicing them.
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CAT Total Return Price Chart
Caterpillar is a cyclical stock, meaning it’s…
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