Money 3 Excellent Growth Stocks to Add to Your RRSP and Hold Forever

19:28  05 february  2018
19:28  05 february  2018 Source:   The Motley Fool

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Here are three excellent stocks to add to your RRSP that you can hold forever and let the magic of compounding do the rest of the work for you.

So today, we’re going to take a look at 10 of the best stocks to buy and hold forever . Dividend Yield: N/A Long-Term Growth : 8.8%. Berkshire Hathaway Inc. (NYSE:BRK.A, NYSE:BRK.B) might be a peculiar stock to add to a list of stocks to buy forever .

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It’s long been said that the very best investments are the ones you never have to sell.

That’s thanks to the “magic” of compound interest — a phenomenon that none other than Albert Einstein once referred to it as the eighth Wonder of the World.

Compound interest can best be explained as follows:

Quotes in the article

Open Text Corp

OTEX

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With the S&P 500 Index down nearly 7% in the last three weeks alone, you can’t be blamed for wanting to throw up your hands and sell all your stocks . But that’s the worst thing you could do, especially if you have a long time horizon and you mainly hold dividend-paying US companies.

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S&P/TSX Venture Composite

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As your investment starts to make money, you begin to accrue profits, and the result is that you end up with a larger investment than you started out with. And as that larger investment continues to make money, the profits you make will continue to pile up in ever-larger sums.

With RRSP season at the top of mind right now, many are thinking about retirement planning.

Here are three excellent stocks to add to your RRSP that you can hold forever and let the magic of compounding do the rest of the work for you.

Shopify Inc.(TSX:SHOP)(NYSE:SHOP)

Shopify runs the e-commerce platform of the same name, which was designed by its founders after they had tried to launch their own snowboard equipment e-commerce store but were disappointed with the solutions that were available in the market at the time.

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Those disappointments sent shares reeling, creating a great opportunity to add this leading biotech to forever portfolios at bargain prices. 3 Growth Stocks to Hold for 50 Years. 3 Top Dividend Aristocrats to Buy for the Next Market Crash.

As for Microsoft (NASDAQ:MSFT), it doesn't sport Facebook's sky-high revenue and earnings growth , but it has positioned itself as a leader in a market with unlimited potential. Finally, Adobe Systems (NASDAQ:ADBE) makes this list of tech company stocks to buy and hold forever thanks to CEO

Shopify has been praised by CNET, an online reviewer of technology and consumer electronics, for the platforms “easy-to-use” functionality.

There’s no denying that digital commerce has arrived and is here to stay.

Shopify is a market leader in the space, and the financial performance confirms the success — sales for the company were up 72% in the last quarter alone.

Dollarama Inc.(TSX:DOL)

While Shopify may be helping to revolutionize e-commerce, Dollarama is having success too, but in a much different way.

Dollarama was founded in 1992, and today has more than 1,000 locations across Canada.

The “bargain bin” retailer has found success in offering a broad assortment of everyday products and seasonal items, all at a price point of under $4.

While many brick-and-mortar retailers were busy closing stores in 2017, Dollarama was busy expanding its physical footprint, opening 10 new stores, which helped contribute to 9.73% sales growth in the third quarter and a 25% increase in earnings per share.

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7 Stocks to Buy for MONSTER Growth in 2016. But why is PEP stock truly worthy of a spot on a list of stocks to buy and hold forever ? “A.M. Best has affirmed the financial strength rating of A ( Excellent ) and the issuer credit rating of ‘a+’ of Travelers Insurance Company Limited (TICL) (United

Dividend Paying Stocks for Beginners. Top Growth Stock for 2017. While 3 M may be worth holding forever , if you do choose to be a shareholder, you'll want to watch for signs of trouble. Add in its already-dominant-and-still-growing online-retail business, and the "small bets" that CEO Jeff Bezos

Open Text Corp.(TSX:OTEX)(NASDAQ:OTEX)

Open Text is Canada’s largest software company, and in addition to being listed on the Toronto Stock Exchange, it’s also listed on the NASDAQ.

Open Text is an information technology company to the core.

In the age of “big data,” Open Text develops and sells software that helps large corporations and governments manage the barrage of information they are collecting and analyzing.

While 2016 was a tough year for the company, Open Text rebounded in 2017 with sales up 26% following that strong performance with another 35% gain in the most recent quarter.

3,985 stocks listed between the TSX & TSXV, but here are the 5 we'd buy right now!

Overwhelmed by how many public companies there are to choose from in Canada? Motley Fool Canada Director of Research Iain Butler has you covered. Once a month, Iain and the rest of our team at Stock Advisor Canada reveal their five favourite Canadian stocks for new money now.

Considering they've walloped a "stuck in the mud" TSX by 10% over the past 4 years with truly life-changing winners like Shopify (up 236%, more than tripling your money), you'll probably want to have your front-row seat reserved when our next five "Best Buys Now" are released - exclusively on behalf of Stock Advisor Canada members.

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Fool contributor jphillips has no position in any of the stocks mentioned. Tom Gardner owns shares of Shopify. The Motley Fool owns shares of Open Text, Shopify, and SHOPIFY INC. Open Text and Shopify are recommendations of Stock Advisor Canada.

When saving into an RRSP instead of a TFSA could cost you dearly .
RRSPs aren't for everyone.It's the time of year when Canadians are bombarded with ads about filling up their Registered Retirement Savings Plans, or RRSPs. Maximizing your contribution before the March 1 deadline is simply the wise and financially responsible thing to do, the message goes.

Source: http://ca.pressfrom.com/news/money/-62435-3-excellent-growth-stocks-to-add-to-your-rrsp-and-hold-forever/

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