As we journey through life, one truth remains constant—the passage of time. Although this can feel discouraging, particularly when you’re navigating your way up the career ladder, it can ultimately act in your favor. With every tick of the clock comes an opportunity to invest in your future. For budding investors, we present three stocks that offer promising potential for retirement planners.
The concept is simple. These stocks represent inevitability; no one can evade the ever-ticking clock, making it prudent to consider these retirement investments. It might be a new spin on an old premise, but it’s fundamentally the same strategy.
Meta Platforms (NASDAQ:META), the tech titan behind social media giant Facebook, is a choice that’s hard to ignore for new investors. What began as an innovative idea in a student’s dorm room has skyrocketed into a dominant player within the most progressive sectors.
Clearly, it’s anticipated that this trend will continue to surge. Meta Platforms, arguably, is the investment equivalent of a world-changing innovation. While alternative social media platforms exist, none boasts the global influence and functionality of Facebook. This is a platform that users can age alongside, as opposed to outgrowing or abandoning. Despite the company’s diversion into the metaverse, it’s predicted that Facebook will maintain its influential reputation. The firm’s ventures in virtual and augmented reality demonstrate promising potential.
The current market sentiment rates META stock a consensus strong buy.
H&R Block (NYSE:HRB), in the midst of this digital evolution, may appear a puzzling suggestion for new investors’ retirement portfolios. As a tax consultancy business, it may not spark immediate excitement. However, the imminent rise of the gig economy is predicted to significantly enhance this firm’s relevance.
In 2023, the gig economy could attain a market value of $455.2 billion, according to projections, with potential expansion to a staggering $918.94 billion by 2028. This trajectory would represent a compound annual growth rate (CAGR) of 14.22%.
This is an essential consideration for H&R Block because the tax profiles of employees and independent contractors differ greatly. With an increase in gig economy workers, the demand for tax consultancy services is predicted to increase due to its intricate filing requirements.
Currently, market experts rate H&R Block a hold with a $55 price target.
Our third consideration is the seasoned tech giant, IBM (NYSE:IBM), which recently celebrated its 100th anniversary. Although it may not immediately come to mind as an appealing choice for novice investors, this company offers more value than what meets the eye.
IBM has shown a consistent upward trajectory. Since the start of this year, its shares have risen by almost 15%, and an impressive 45% increase within the trailing one-year period. Despite not being a fan-favorite amongst tech enthusiasts, IBM has continued to underscore its innovative status. One can observe its commitment to technological advancement through ventures like the Watson computer system, which has progressively shaped the domain of machine learning.
Based in Armonk, New York, IBM has consistently played a pioneering role in digital intelligence. Consequently, it can reasonably be predicted that IBM will maintain its upward trend, with an increasing number of practical applications emanating from this tenacious tech titan.
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