Published on 31 May 2024 on Motley Fool via Yahoo Finance

3 Stocks That Could Turn $1,000 Into $5,000 by 2030

Growth stocks are your best choice for ensuring your investment portfolio not only beats inflation but also increases steadily in value to help you better prepare for your retirement. Many investors have been touting the strengths and benefits of the "Magnificent Seven" group of stocks and are familiar with their characteristics.

The problem with large growth stocks is that size itself is a limiting factor -- it can be tough for a huge organization to grow quickly. For that reason, it pays to look at medium-sized growth companies. Their smaller size and customer base provide significant leeway for them to grow rapidly, underpinned by growing demand for their products or services. It helps if they have tailwinds that can propel their revenue and earnings higher, helping the share price to do the same.