Invest in these 2 ASX shares for a real shot at $1 million

Getting to seven figures is possible, but only if you give it a try. Check out these stocks that could take you there.

| More on:
A couple are happy sitting on their yacht.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Sure, a million bucks no longer gets you an average house in Sydney.

But becoming a millionaire still has a ring to it, right?

The fact is you can still do plenty with a cool mill in the bank — not least retire on a comfortable lifestyle.

And I can tell you the dream is within reach if you invest in ASX shares and use the power of compounding.

Here's a hypothetical.

Let's say you have $50,000 saved to start a stock portfolio. For the sake of easy maths, let's say you add $500 to that each month.

If your stocks can pump out a compound annual growth rate (CAGR) of 15%, you will be a millionaire after 18 years.

That is, if you started at 30 years old, you can tell your boss where to go at 48.

Three growth shares that could have made you a million

Now, what sort of ASX shares could you achieve 15% CAGR?

Here are three examples that experts are currently urging punters to buy: Mader Group Ltd (ASX: MAD), Telix Pharmaceuticals Ltd (ASX: TLX) and Patriot Battery Metals Inc CDI (ASX: PMT).

Mader, which provides maintenance services for mining clients, listed on the ASX in October 2019 after issuing shares at $1 during its initial public offering (IPO).

The stock is now trading around $6.40, making it better than a six-bagger in about four years, or an eye-popping CAGR of 59%.

Telix Pharmaceuticals makes cancer diagnostic and treatment products. As some of its innovations have gone through testing, approvals and commercialisation, the stock price has rocketed 1,194% over the past five years.

That equates to a CAGR of 66.77%.

Patriot Battery Metals is in the business of finding sources of lithium.

The Canadian company sold its shares at 60 cents during its IPO, then floated in December last year. Patriot Battery Metals shares are now trading around the $1 mark, making it a 67% gain over 11 months.

Experts think there's more to come from the trio

Of course, past performance is never an indicator of the future. Therefore all this phenomenal performance doesn't mean that's how well they will do in the coming years.

But I present them to you to demonstrate that forming a portfolio with 15% CAGR to make a million is not an impossible task.

Also, experts still seem to be pretty bullish on all three of our examples, so at least they think they have a reasonable chance of continuing their bull run.

According to CMC Markets, four out of five analysts that cover Mader Group are rating it as a buy right now.

Meanwhile, all seven analysts that study Telix reckon it's an add, and same with all nine professionals that cover Patriot Battery Metals.

Motley Fool contributor Tony Yoo has positions in Telix Pharmaceuticals. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Mader Group and Telix Pharmaceuticals. The Motley Fool Australia has positions in and has recommended Mader Group. The Motley Fool Australia has recommended Telix Pharmaceuticals. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Investing Strategies

Joyful woman at a beach on the Gold Coast with her arms spread out.
Dividend Investing

10 high-conviction ASX dividend shares to buy for passive income today

With interest rates falling, it might be a good time to buy dividend stocks.

Read more »

Broker looking at the share price on her laptop with green and red points in the background.
Blue Chip Shares

Buy these fantastic ASX shares for your SMSF

Looking to bolster your self-managed super fund? Then check out these buy-rated shares.

Read more »

A couple makes silly chip moustache faces and take a selfie on their phone.
Dividend Investing

Worried about falling interest rates? Here are 2 ASX 200 income shares to replace a term deposit today

Dividend shares are looking better and better in 2025.

Read more »

Man smiling at a laptop because of a rising share price.
Dividend Investing

Guess which high-yielding ASX All Ords dividend stock Macquarie expects to surge 34% in a year

Looking for market-beating passive income and share price gains? Check out this ASX All Ords stock!

Read more »

Happy work colleagues give each other a fist pump.
Cheap Shares

Morgans names 2 cheap ASX 200 shares to buy

The leading broker thinks these shares are being undervalued by the market.

Read more »

Happy couple looking at a phone and waiting for their flight at an airport.
Cheap Shares

2 ASX 300 shares to buy this month: experts

These stocks could be leading opportunities according to one expert.

Read more »

A senior investor wearing glasses sits at his desk and works on his ASX shares portfolio on his laptop2
Cheap Shares

Is this beaten-up stock the best value buy in the ASX 200?

An expert has outlined why this stock is an attractive opportunity.

Read more »

Middle age caucasian man smiling confident drinking coffee at home.
Dividend Investing

Buy BHP, Telstra, and this ASX dividend share

Brokers are tipping these shares as buys for income investors. But why?

Read more »