Want $1 Million in Retirement? Invest $100,000 in These 3 Stocks and Wait a Decade

Are you looking to turn a modest amount of money into a seven-figure sum in a relatively short period of time? Most get-rich-quick ideas end up being a bust. There are some names, however, that should be capable of beating the broad market's performance well enough to do so, if you can give them enough time -- like 10 years. Here's a closer look at three such prospects.

1. Taiwan Semiconductor Manufacturing

Contrary to a common assumption, chipmakers like Nvidia, Intel, and Qualcomm don't actually make their own silicon. Although Intel is making some problem-plagued efforts to establish its own foundries, by and large most of these companies recognize that it's actually cheaper -- and far easier -- to punt this work to a third-party manufacturer.

Image source: Getty Images.

Taiwan Semiconductor Manufacturing (NYSE: TSM) is one of these manufacturers. It's also the biggest, particularly for the high-performance microchips required by computers, artificial intelligence (AI) data centers, and smartphones. All told, it did $112 billion worth of business last year, up nearly 32% from 2024's top line. Analysts are looking for sales growth of more than 30% this year, and nearly 24% next year, as the number of AI data centers continues to explode.

Not every year will be so good; the chip industry is at least occasionally somewhat cyclical, too.

With what's effectively a near-monopoly on the semiconductor manufacturing business, TSMC is certain to enjoy more good years than bad.

2. ServiceNow

It's been a rough past few weeks for most artificial intelligence stocks. ServiceNow (NYSE: NOW) is no exception. Shares of this workflow automation platform provider have been nearly halved just since the middle of last year, despite analysts' expectations for revenue growth of 21% this year and more than 18% next year. Being in the AI business is just a huge liability at this time.

What's largely underappreciated about ServiceNow, however, is that it was a successful digital/automated workflow service provider well before AI revolution heated up. And, given the practical, user-friendly nature and proven marketability of its offerings, it's unlikely that any sweeping rethink of all the money currently being spent on AI now will actually disrupt ServiceNow's business growth.

3. BYD

Finally, anyone keeping close tabs on China's electric vehicle powerhouse BYD Company (OTC: BYDDY) likely knows it continues to lose market share in its home market, slipping to 16% last month versus 27% at this point a year earlier.

BYD isn't strictly focused on China anymore, though. It delivered a total of 187,657 EVs to a very receptive Europe last year, up more than 268% from 2024's count. Look for impressive numbers here going forward, too.

That's still not a core component of the bullish argument here, however. BYD stock is a buy predominantly because it's already the world's second-biggest manufacturer of the lithium batteries used in electric vehicles. It's making great strides (like solid-state batteries and lithium iron phosphate "blade" batteries) that should keep it competitive in an EV battery market that Precedence Research expects to grow at an average annualized pace of 26% through 2034.

James Brumley has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Intel, Nvidia, Qualcomm, ServiceNow, and Taiwan Semiconductor Manufacturing. The Motley Fool recommends BYD Company. The Motley Fool has a disclosure policy.