Market Correction: Boost Your Retirement Fund With These 2 Stocks

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If you’re saving or investing for long-term goals like retirement, now is the time to invest in stocks that would significantly boost your retirement fund. Thanks to the recent pullback in major stocks on the TSX, investors can now buy shares of high-growth companies at prices significantly below their highs.

Also, since stocks outperform all other asset classes over the long term, investing in stocks greatly enhances their return potential. While several stocks are trading at an attractive discount, these are my top picks that could deliver superior returns.

Tech Stocks Worth Investing In

One stop technology stocks they have corrected about 60-80%, investing in them could be a smart move. Among the major technology companies, Shopify (TSX:STORE)(NYSE: STORE) it’s a must-have stock in your retirement portfolio.

Shares of this internet-based trading platform provider have been trending lower on growth concerns. In addition, an uncertain economic trajectory is limiting the rapid recovery of its price. It is worth mentioning that Shopify stock has corrected around 79% from its 52-week high and has the potential to deliver stellar returns over the long term.

Shopify’s growth could accelerate as e-commerce demand gains steam. Additionally, easier year-over-year comparisons and the ongoing digital shift will likely support its growth for years to come.

Its new business initiatives, aggressive investments in e-commerce infrastructure and product expansion bode well for growth. In addition, its increasing penetration of existing markets, expansion of its existing products into new geographies, and launch of new features to support its business solution offerings provide a strong foundation for growth.

In addition, Shopify’s investments in POS and the Shopify Fulfillment Network (SFN), the growing penetration of Shopify Payments and Capital, partnerships with social media companies, and the acquisition of Deliverr strengthen its competitive position and could add more paying merchants to its portfolio. platform.

A high-growth financial services company

calmly (TSX:GSY) it is money minted for its shareholders consistently outperforming the broader markets by a wide margin. Offers leasing and loan services to customers with non-preferred qualifications. Additionally, strong demand for its offerings has led the company to deliver strong double-digit growth in sales and earnings, supporting the upward trend in its share price.

Its ability to generate stellar earnings has enabled goeasy to increase its shareholder value through higher dividend payouts. It has paid dividends for the last 18 years. Also, its dividend has a CAGR of 34.55 over the last eight years.

While momentum in goeasy’s business remains, reflected through strong growth in loan origination, its shares have fallen more than 53% from a 52-week high due to the weak macroeconomic environment.

I see this drop in goeasy stock as a strong opportunity for investors with long-term goals to invest in this high-growth company. goeasy’s wide range of loan products, new product launches, geographic and channel expansion, and large subprime loan market provide a strong foundation for growth. Additionally, strong loan volumes, an increase in ticket sizes, strong credit performance and a larger collateralized loan mix will likely dampen its margins.

goeasy forecasts double-digit revenue growth in the medium term. Plus, the sales leverage and efficiency savings will expand your margins. It projects an annual expansion of 100 basis points in its operating margin over the next three years.

By investing in goeasy shares, investors can expect strong long-term capital appreciation. Additionally, investors will benefit from its reliable dividend payments.

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