3 Stocks to Buy Now That Could Help You Retire a Millionaire

To become a millionaire, most investors probably need to generate robust investment returns for years and even decades. To do that, you’ll want to find high-quality businesses that are poised to grow their profit steadily over the long term.

Let’s look at three such companies.

1. Berkshire Hathaway

CEO Warren Buffett has managed Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) for nearly six decades, delivering fortune-building gains for its shareholders. Yet Buffett’s crowning achievement may be how he’s built the company to thrive even after the legendary investor eventually steps down.

Berkshire is a financial powerhouse, with diverse and battle-tested revenue streams. The investment conglomerate houses over 60 operating subsidiaries across a wide variety of industries, including insurance, railroads, real estate, energy, and retail. These competitively advantaged businesses generate annual free cash flow of approximately $27 billion.

Berkshire’s massive cash reserves also help to lessen the risks for its shareowners. With $157 billion in cash and equivalents on its fortress-like balance sheet as of Sept. 30, Buffett and his lieutenants have plenty of dry powder to use on new investment opportunities. Berkshire’s equity portfolio is chock-full of quality stocks including Apple, Occidental Petroleum, and American Express — and Buffett is always on the hunt for new additions.

Importantly, Buffett has made certain Berkshire will remain in able hands after he retires. His hand-picked successor, Greg Abel, will take on the role of chief executive officer. And Buffett’s trusted deputies, Ted Weschler and Todd Combs, are slated to manage the company’s investments. Buffett, in turn, is confident that “there will be no finish line” for Berkshire Hathaway.

2. Palo Alto Networks

Betting on powerful long-term trends is another proven path to wealth. The rising need for effective cyber defenses is one such trend — and Palo Alto Networks (NASDAQ: PANW) is a formidable force in…