Key Points

• There are actually multiple average Social Security benefits for age 65.

• You could increase your benefits by waiting until 67 or later to claim Social Security.

• Regardless of your benefit at age 65, it's probably not going to be enough to enjoy a comfortable retirement.

• The $23,760 Social Security bonus most retirees completely overlook ›

Throughout much of Social Security's history, 65 was the magic age for retirement. Waiting to retire until you reached 65 ensured that you'd receive your full benefits. That's no longer the case. Beginning in 2026, the full retirement age will officially be 67 after several decades of gradual increase.

However, 65 remains a popular age to claim Social Security retirement benefits. One reason why is that it's still the eligibility age for Medicare. But how much could you expect to receive if you begin collecting Social Security at 65?

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Multiple averages

The latest annual statistical supplement published by the Social Security Administration (SSA) includes lots of data. There are actually multiple average Social Security benefits for age 65, because Social Security has multiple types of benefits. We're focused only on retired worker benefits, though.

The average monthly Social Security benefit for a retired worker aged 65 listed in SSA's report was $1,563.06. That translates to $18,756.72 annually.

However, there is a disparity between the sexes. The average monthly benefit for men was $1,733.08, well above the average monthly benefit for women of $1,409.73. This difference is due to higher average earnings for men.

Keep in mind, though, that the actual averages in August 2025 are almost certainly higher than those numbers. SSA's most recent annual statistical supplement was released in December 2024. Moreover, its figures were based on data from one year earlier.

How much you'll forego by retiring at 65

The amount of benefits you'll receive if you retire at age 65 might not be anywhere close to the average. Your retirement benefit hinges on how much you made during the 35 years of your highest earnings. However, whatever your benefit amount is from retiring at 65, you can calculate how much you're foregoing by retiring before the full retirement age of 67.

Social Security will reduce your benefit by five-ninths of 1% for each month you retire before your full retirement age, up to a maximum of 36 months. If you retired exactly at age 65 and your full retirement age is 67, you'll receive roughly 86.7% of the benefits you'd get if you had waited until 67.

You could be giving up even more than that, though. How? Social Security offers delayed retirement credits for individuals who hold off on claiming retirement benefits until after their full retirement age. For anyone born in 1960 or afterward, your retirement benefit will be increased by two-thirds of 1% for each month you delay claiming benefits. That equates to an annual increase of 8% per year through age 70.

How much money would you forgo claiming retirement benefits at 65 versus waiting until 70? Your Social Security benefit would be a whopping 43.1% higher if you held off until 70 instead of collecting benefits at 65.

Securing greater retirement security

Regardless of what your Social Security benefit will be if you claim at age 65, it's probably not going to be enough to enjoy a comfortable retirement. You'll need to take other steps to secure greater retirement security.

Some retirees will receive money from pension plans. However, pensions aren't nearly as common now as they used to be. In 2024, only 15% of workers in private industries had pension plans, according to the U.S. Bureau of Labor Statistics. If you're not in that group, it's important to save as much as possible for retirement in tax-advantaged accounts such as IRAs and 401(k) plans.

The good news is that most people can contribute to IRAs. Many U.S. employers also offer 401(k) plans or similar retirement plans. And with around 98% of companies with a 401(k) plan also offering matching contributions, saving to supplement your Social Security retirement benefits can be even easier.

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Key Points

• Collecting monthly dividends is like replacing a paycheck.

• Net lease giant Realty Income is a slow and steady tortoise with a lofty 5.6% yield.

• Agree Realty is a growth-focused net lease REIT with a 4.2% yield.

• These 10 stocks could mint the next wave of millionaires ›

Your investment needs change when you switch from building your wealth to trying to live off of your savings. Suddenly, income is a much more important factor in the investing equation.

Monthly dividend payers like Realty Income (NYSE: O) and Agree Realty (NYSE: ADC) not only provide income, but the frequency of the dividend is almost like replacing a paycheck. Here's a look at each of these high yielders and why you might want to buy them.

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What is a net lease REIT?

Realty Income and Agree are both net lease real estate investment trusts (REITs). A net lease requires the tenant to pay most property-level expenses for the property they occupy. This gives the tenant effective control of the property and leaves the landlord free to just collect rent checks.

That's a bit of a simplification, but the key here is that net lease properties are often created when a company sells a property and then instantly leases it back in what is known as a sale/leaseback transaction.

Why do that? Because a sale/leaseback net lease deal is usually a financing transaction for the seller. It allows them to raise cash for other purposes, like growing their business.

REITs like Realty Income and Agree benefit because they usually get reliable tenants, long lease terms, and built-in rent escalators. It's pretty close to a win/win deal. You can add an extra win here, too, because shareholders of these two REITs have gotten reliable dividends out of the equation.

What's the difference between Realty Income and Agree?

The core focus on both Realty Income and Agree is net lease retail properties. In this way, they are competitors. However, Realty Income is a far larger business, with more than 15,600 properties compared to Agree's roughly 2,500 assets. There are some important differences that flow from the size discrepancy here.

Realty Income is so large that it has had to diversify its portfolio. The first notable issue is that industrial and "other" assets make up around 25% of rents. But it has also reached across the pond, expanding its geographic reach to Europe.

The goal is to have as many levers for growth as possible. It simply takes more transaction volume to grow a huge portfolio. In fact, Realty Income has even branched out into some nontraditional net lease areas, like data centers, debt, and investment management.

Realty Income is a slow and steady tortoise, but the company is working hard to make sure that it can continue to grow its dividend in the future as in the past. At this point, Realty Income's dividend has been increased every year for 30 years, a streak that includes 110 quarterly increases. The yield is a very attractive 5.6%.

Agree Realty is much smaller, and its focus is much smaller, too. It basically only invests in retail properties in the United States. That's not a bad thing. The U.S. net lease retail property market is quite large, and there's plenty of room for Agree to keep expanding its portfolio. And given its small size, it doesn't take nearly as much to grow the business as it would take to grow Realty Income.

With a larger growth opportunity ahead of it, Agree Realty tends to trade at a premium to Realty Income. Notably, Agree's dividend yield is 4.2%. However, over the past decade, Agree's average annualized dividend growth rate was around 5%, compared to roughly 3.5% for Realty Income.

That may not sound like a large difference, but it adds up over time. Agree is a good choice for those who favor income growth over income now.

Perhaps buy them both?

If you are looking to replace a paycheck with a monthly pay stock, both Realty Income and Agree will fit that bill. Add in attractive and well-above-market dividend yields, and the story gets even better.

That said, the best choice here may not be picking one or the other. It could be buying them both, so you can find a balance between maximizing the income you generate with protecting your income stream from the ravages of inflation.

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Reuben Gregg Brewer has positions in Realty Income. The Motley Fool has positions in and recommends Realty Income. The Motley Fool has a disclosure policy.

Key Points

• Meta's advertising platform is increasing in strength.

• Management's Q3 revenue guidance was far above what Wall Street was expecting.

• These 10 stocks could mint the next wave of millionaires ›

Meta Platforms (NASDAQ: META) rose over 11% on July 31 thanks to the incredible results that it posted during the second quarter. Meta also delivered some shocking news that helped propel the stock higher, as its expected growth is far greater than anyone predicted.

But after a large jump in a short time frame, is the stock still worth buying?

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Q2's growth far exceeded management's expectations

Meta Platforms is better known for the social media platforms that it owns: Facebook, Instagram, Threads, WhatsApp, and Messenger. The key part of these apps is the advertising revenue that they generate. In Q2, advertising generated $46.6 billion in revenue for Meta. Companywide, Meta generated $47.5 billion.

That's nearly all of Meta's revenue, so it's clear that as long as advertising remains strong, Meta will remain strong. In Q2, ad revenue rose 22% year over year. Because the revenue makes up a large chunk of Meta's total, this 22% growth rate is equal to its overall growth rate. The big kicker here is that Meta was only expecting 13% revenue growth at the midpoint for Q2.

Q2 clearly exceeded all expectations for growth, which is one of the reasons why the stock responded so positively; the other reason was the outlook.

Meta expects to sustain this growth through at least the next quarter

Looking ahead to Q3, Wall Street analysts expected Meta to forecast $46.2 billion in revenue. However, management completely blew that expectation away, guiding for revenue between $47.5 billion and $50 billion. That indicates 20% growth at the midpoint, which shows that this rapid growth is expected to persist.

That's an incredible outlook for Meta and shows that the company isn't just succeeding, it's knocking it out of the park. However, the 11% jump following Q2 earnings may concern investors that all of this success has been pulled forward. So, is Meta a solid buy now?

Meta's stock isn't the cheapest around

After the one-day jump, Meta trades at 28 times earnings.

META PE Ratio data by YCharts

Besides the decline Meta experienced alongside the broader market in April, this is pretty much in line with where the stock has traded at since 2024. As a result, investors shouldn't be overly concerned with the price that they're paying. Furthermore, the S&P 500 index (SNPINDEX: ^GSPC) trades at 24.9 times trailing earnings, which isn't that much cheaper than Meta (although still historically expensive).

With Meta's impressive growth rate and dominant business model, I'm confident that Meta can still deliver market-beating growth moving forward. The Wall Street analyst community was bearish on Meta's stock heading into earnings, as its forward price-to-earnings (P/E) ratio was identical to its trailing P/E ratio, indicating no earnings growth over the next year.

However, Meta delivered 38% diluted earnings per share (EPS) growth in Q2, so this argument has been completely upended. This could cause a wave of analyst upgrades coming in the next few weeks, which could drive Meta's stock even higher.

The price for Meta's stock is fair, and with excellent growth ahead of it, I still think it's a top stock to buy in the market today.

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Keithen Drury has positions in Meta Platforms. The Motley Fool has positions in and recommends Meta Platforms. The Motley Fool has a disclosure policy.

Key Points

• The company must operate under strict regulations, as it is developing certain medicines based on psychedelic substances.

• Such compounds are currently illegal for sale or consumption throughout much of America.

• These 10 stocks could mint the next wave of millionaires ›

By their nature, clinical-stage biotech companies can be volatile investments. Even by that standard, MindMed (NASDAQ: MNMD) is quite a risky play; after all, a key element of its business strategy is to develop brain health medications based on compounds that are illegal on the federal level in the U.S.

Threading the needle with the law

For this reason, even a modest relaxation of current laws could really benefit MindMed. It isn't cheap or easy to operate within the many restrictions imposed due to the legal status of psychedelics (these can be used for medical research purposes, however the limits are strict).

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That's exacerbated by the fact that the company's pre-revenue just now. So all things being equal, the more it can put the brakes on cash burn, the longer it'll survive until it can (hopefully) get one of its investigational drugs approved and shipped to the market.

At the moment, MindMed has sufficient resources to endure for at least a few years. At the end of March it had nearly $238 million in cash, cash equivalents, and short-term investments, which wasn't too much less than the previous quarter's $245 million. According to management, this plus monies for the expected achievement of certain milestones will be sufficient to fund operations into 2028 at least.

Thaw in progress

Happily, the decriminalization of psychedelics, for medical purposes anyway, enjoys plenty of support among the American public. A 2023 survey conducted by the University of California at Berkeley found that 61% of respondents approved of regulated therapeutic access to psychedelic-based medicines.

Meanwhile, in recent years certain jurisdictions relaxed their restrictions on psychedelics. Several cities, such as Denver and Washington D.C., have decriminalized psilocybin (the psychoactive compound in "magic" mushrooms).

I don't think full-blown decriminalization is around the corner in the United States. Rather, I think it'll be more an unhurried, stop-and-go process like that of marijuana law reform currently. As restrictions on its research ease, MindMed should be able to save some capital and extend its all-important runway.

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Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

Key Points

• SoFi has been a publicly traded company for just under five years, but investors have more than doubled their money.

• A $1,000 investment in SoFi at the time it went public would be worth about $2,030 today.

• The financial-technology innovator has posted some incredible growth numbers.

• These 10 stocks could mint the next wave of millionaires ›

SoFi (NASDAQ: SOFI) went public through a special purpose acquisition company, or SPAC, in early 2021 by combining with a blank-check company sponsored by Chamath Palihapitiya. Shares of the blank-check company started trading in late 2020 for $10, and SoFi currently trades for a little more than twice that amount. In this case, a $1,000 investment would be worth about $2,030 today.

However, you wouldn't have known you were investing in SoFi back then. The January 2021 announcement of SoFi's SPAC merger caused shares to rise.

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If you had bought shares on the day of the merger announcement, you'd still be up, but not by nearly as much. SoFi spiked so high on news it was going public that your $1,000 in January 2021 would be worth $1,109 today.

There have been plenty of opportunities to buy in the years since. In the 2022 bear market, SoFi traded for less than $5 per share at certain points. It's fair to say that many early SoFi investors, especially those who built their positions over time, have generated strong returns on their investments.

Why has SoFi performed better than most SPACs?

It's no secret that the majority of 2020-2021 SPAC initial public offerings (IPOs) haven't exactly been good investments, but SoFi is one of the notable exceptions. There are numerous reasons, but the short explanation is that the business has performed incredibly well.

About a year after the SPAC announcement, SoFi became a chartered bank and had less than 3.5 million members at the end of 2021. Now, it has more than triple that amount.

Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) went from $30 million in 2021 to an estimate of nearly $1 billion for 2025. SoFi recently celebrated its first full year of GAAP profitability, a term that sadly hasn't been associated with too many ex-SPACs.

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Matt Frankel has positions in SoFi Technologies. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

Key Points

• Trump's tariff announcement back in April sent many stocks crashing, and it turned out to be a great buying opportunity.

• Shares of Robinhood Markets, Rocket Lab, and Opendoor Technologies have soared in recent weeks and months.

• These 10 stocks could mint the next wave of millionaires ›

When U.S. President Donald Trump announced a raft of tariffs back in April, he referred to it as "Liberation Day" for the country. What it ended up being was a blow for many stocks, reminiscent of the COVID lows that occurred back in March 2020. Like buying stocks amid that panic, investors who bought back in April have enjoyed some fantastic returns.

Three stocks that have been among the biggest winners since the Liberation Day tariffs were announced are Robinhood Markets (NASDAQ: HOOD), Rocket Lab Corporation (NASDAQ: RKLB), and Opendoor Technologies (NASDAQ: OPEN). Here's a look at how they've performed and whether they are still good buys. The following returns are as of the close on Aug. 4.

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Robinhood Markets: Up 152%

Fintech stock Robinhood fell to less than $40 a share shortly after Liberation Day. But as tariffs were paused and negotiations have been taking place, investor sentiment has rebounded, and shares of the popular trading platform have soared since then.

Robinhood's trading platform is popular with retail investors, and it's often a good gauge of just how much excitement is in the stock market. It has also been experiencing some terrific growth due to that bullishness.

On July 30, the company reported second-quarter results, and revenue rose 45% year over year, totaling $989 million. Its net income also more than doubled to $386 million. The company has launched tokenization, which Chief Executive Officer Vlad Tenev calls "the biggest innovation our industry has seen in the past decade." It's currently only available in Europe, but it lets investors hold stock tokens via the blockchain, giving investors greater access to the markets with no commissions.

Robinhood's focus on innovating and catering to retail investors makes it a compelling growth stock to own. It is expensive, however, trading at more than 50 times trailing earnings. But for the growth potential it possesses, the premium may be justifiable. If you're willing to buy and hold for years, it may not be too late to buy the stock.

Rocket Lab: Up 145%

In early April, Rocket Lab stock was trading below $20; as of Monday's close, it was closing in on $45. Rocket Lab is in the business of sending rockets into space, with 68 launches of its Electron rocket under its belt already. A big catalyst may still be waiting in the wings if Rocket Lab's larger Neutron rocket makes a successful debut later this year. That larger rocket can take on bigger payloads and result in greater growth opportunities and missions for the company in the future.

News of tariffs may have worried investors that inflation might rise, which could result in higher interest rates. This would be bad news for money-losing businesses like Rocket Lab that are likely going to need to raise a lot of cash to expand operations. The company incurred a net loss of more than $190 million last year, and it burned through $49 million in its day-to-day operations.

Rocket Lab is a bit of a risky buy, but if you're willing to hang on amid its early growth stages, it could still have a lot more upside in the long run.

Opendoor Technologies: Up 144%

Opendoor is an even riskier stock than Rocket Lab. It's in the business of buying and selling houses. It helps sellers quickly sell their homes, allowing them to avoid the hassles of dealing with listings and showings, which can take months. Opendoor is effectively hoping to flip houses for a profit, and it may need to make upgrades and repairs before putting them on the market.

It's a capital-intensive business, which is why it is also likely to need many cash infusions. Its shares were trading at about $1 on Liberation Day. While they continued to fall after April, they have skyrocketed a staggering 300% in just the past month in what's a great example of how overly excited retail investors have become of late with highly risky stocks.

Opendoor, unfortunately, is largely a meme stock -- and other companies that tried the home-flipping business have flopped. Its gross profit margins are low, which makes it difficult to see the company obtaining a path to profitability anytime soon. Last year, it incurred a net loss of $392 million on sales totaling $5.2 billion. And with its business dependent on a strong housing market, it's not an ideal investment to hold at a time when there's a lot of uncertainty about the economy. This is one stock you may want to avoid as the risk is incredibly high.

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When our analyst team has a stock tip, it can pay to listen. After all, Stock Advisor’s total average return is 1,026%* — a market-crushing outperformance compared to 180% for the S&P 500.

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David Jagielski has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Rocket Lab. The Motley Fool has a disclosure policy.

Key Points

• Fair Isaac's FICO score could face new competition in mortgages originated through Fannie Mae and Freddie Mac.

• The stock's tumble could be due to a previously excessive valuation instead.

• Strong pricing power and aggressive share repurchases make Fair Isaac a stock to buy on the dip.

• These 10 stocks could mint the next wave of millionaires ›

When someone wants to take out a loan, open a credit card, or apply for a mortgage, lenders will look at that person's credit score. It's been a lucrative business model for decades for Fair Isaac (NYSE: FICO), the company whose FICO credit scoring system has become a global leader, used in making more than 10 billion credit decisions annually.

Shares of Fair Isaac have returned more than 43,000% since 1994!

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The stock, however, has tumbled for months. The downtrend continued after the U.S. government announced it would let U.S. mortgage giants Fannie Mae and Freddie Mac use VantageScore, an alternative credit scoring model created by the U.S.'s top three credit bureaus. That decision breaks the decades-long monopoly Fair Isaac has enjoyed in that market, helping generate those staggering investment returns.

But despite the troubling news, the stock's steep 43% decline from its 52-week high could instead be an opportunity to buy the dip and hold for the long haul.

FICO's network effects will be hard to undo

The most important part of lending money is getting paid back. Fair Isaac's FICO score dominates this aspect of the lending industry. About 90% of the top U.S. lenders and credit unions use the FICO score, and 95% of the total dollars of U.S. securitizations -- loans pooled together and sold as investments -- solely cite the FICO score to measure their risk.

The more lenders depend on the FICO score, the more data it has to hone its algorithm, and the more people trust its reputation. It's a self-fulfilling loop, often called the network effect. It's a powerful advantage that doesn't typically erode overnight.

The industry criticized Fair Isaac for raising its wholesale royalty price from $3.50 to $4.95 per score on mortgage originations last year, an increase of more than 40%. It probably influenced the government's decision to open up Fannie Mae and Freddie Mac mortgages to a competitor. But how likely is this to hurt Fair Isaac's business? I'm skeptical that it will, at least for now.

With a mortgage averaging roughly $6,000 in total closing costs, the $4.95 Fair Isaac charges for a FICO score is a minuscule component of the total costs of originating a mortgage loan. Is a lender going to opt for a less-proven credit scoring system to save a couple of dollars per loan? Even if the VantageScore system performs well, a loan default could wipe out a lender's cumulative savings on thousands of originations.

On the securitization side of things, institutions and other investors who buy securitized mortgage products would need to feel comfortable with an alternative tool gauging the risk of such products. Once again, it's not that it can't happen, but assuming it will could be getting too far ahead of things.

This could explain the stock's sharp decline

Instead, Fair Isaac's recent tumble could boil down to the stock's valuation coming back to earth.

After all, the stock's price-to-earnings (P/E) ratio topped out at nearly 120 at its peak, an excessive valuation that made an eventual reversion a matter of when, more so than if.

FICO PE Ratio data by YCharts.

You can see the stock's P/E was less than 30 not very long ago. Stock prices can act like pendulums, swinging hard in either direction. The overextended valuation had already begun to unwind and the VantageScore announcement simply added to the selling pressure.

A fantastic company at a reasonable price

The decline has dropped Fair Isaac to a reasonable price for long-term buyers. Wall Street is quite optimistic about the company's future; long-term estimates call for 27% annualized earnings growth. That's a price/earnings-to-growth (PEG) ratio of about 2, a solid valuation for a top-notch company.

Fair Isaac will have opportunities to live up to expectations as consumers in America and abroad continue to borrow. Much of that growth could depend on its ability to raise prices on its FICO credit scores. Investors probably shouldn't anticipate more 40% price increases, but Fair Isaac's market leadership with FICO should give it solid pricing power across various types of credit.

Additionally, Fair Isaac aggressively buys back stock to boost its earnings per share. Management has retired nearly a quarter of the diluted share count during the past decade.

Fair Isaac's valuation isn't a bargain yet. If the shares decline more, pushing the stock to valuations reminiscent of 2022 and 2023, investors may want to buy slowly and steadily to ensure they leave some cash handy for lower prices should they present themselves.

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Justin Pope has no position in any of the stocks mentioned. The Motley Fool recommends Fair Isaac. The Motley Fool has a disclosure policy.

Key Points

• Ethereum will almost certainly be around in 10 years.

• The odds are very good that it will be worth a lot more at that point than it is today.

• That doesn't mean its moonshot potential is going to unfold perfectly.

• These 10 stocks could mint the next wave of millionaires ›

Building a skyscraper starts with a blueprint that looks bold on paper, but it takes more than an architect's sketches for the plan to become a reality. The same applies to the ever-popular dream of turning a modest investment in a cryptocurrency like Ethereum (CRYPTO: ETH) into a seven-figure stake.

Making $1 million with this coin will demand aggressive price appreciation, unwavering discipline, and a healthy tolerance for volatility, not to mention for its roadmap to play out as conceived and then subsequently be well received by the market. Ready to see exactly what it would take?

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Crunching the numbers

Let's start by envisioning the finish line.

Today, the coin trades at about $3,600. Assume Ethereum coins change hands at $30,000 in mid-2035, which would make for roughly an eightfold gain. That likely would require the network to capture a dominant share of the capital related to decentralized finance (DeFi), tokenized assets, and artificial intelligence (AI)-native blockchain applications. Furthermore, at that price, you would need about 33.4 tokens to crest the $1 million mark.

Buying that much over 10 years at an average price of $5,000 would cost roughly $167,000, or about $1,391 per month.

Most investors cannot afford to allocate that much to one fairly risky investment on a monthly basis, but it might still be possible by siphoning some of the regular flows of capital devoted to buying safer investments, as inadvisable as that may be. Importantly, those numbers shrink a bit if the purchased coins are staked consistently; some validators currently offer staking yields near 4%, and there are some Ethereum exchange-traded funds (ETFs) that now pass on staking rewards to shareholders.

The math here has three pillars.

First, the future price. A $60,000 end price cuts the amount of coins needed in half, and it slashes the monthly purchasing requirement to about $700, which is more manageable. Alternatively, a much lower price would make the entire endeavor financially impractical.

Second is the average purchase price. A nasty bear market could drop your average cost far below today's level, or a melt-up could push it sharply higher.

The third pillar is your own consistency. If you miss a few months of buying, the entire plan starts to wobble fast.

None of those pillars are guaranteed to hold, so investors must treat this projection as a best guess, not a promise.

The assumptions carry a lot of load here

Now that we have a few rough figures pinned down, it's time to vet the assumptions that underlie the chain's prospects for growth.

Ethereum's dominance of the decentralized finance sector looks fairly sturdy today, though not quite as unassailable as it did in 2021, and even less so compared to its strength in 2017. It hosts roughly $80 billion of the DeFi sector's $134 billion in total value locked (TVL), which is good for a market share of about 60%. If that share persists while the sector triples, the network's fee revenue, and by extension its staking rewards, would doubtlessly swell.

Meanwhile, the broader smart contracts market is projected by Research and Markets to grow at a 23% compound annual growth rate (CAGR) through 2029 as more industries automate processes on-chain. It's practically a given that Ethereum will continue to capture a big share of that market, and AI agents that write, audit, and trigger smart contracts could juice growth even further.

Evolving regulation rounds out the bullish case.

A May 29 statement from the Securities and Exchange Commission (SEC) signaled a path for staking to remain legal when offered through registered intermediaries. Coupled with the first wave of ETFs, financial institutions finally have a compliance-friendly way to hold and compound Ethereum, which they are now starting to do.

So, at least on the surface, Ethereum has a decent chance of being able to grow quickly enough to meet the requirements for investors to become millionaires during the next decade, provided they continuously invest some capital on a regular basis.

This is not a slam dunk in any way

Now for the cracks in the mirror.

Rival smart contract chains like Solana offer lower fees and faster transaction speeds. They're also courting developers, both of which could chip away at Ethereum's market share and, in time, potentially supplant it entirely. And while U.S. regulators appear friendlier today, policy shifts can arrive overnight. Any one of these shocks could flatten staking yields, stunt price growth, or both, stretching the $1 million timeline well past 10 years.

Therefore, aiming to amass $1 million in Ethereum within a decade is possible on paper, but it relies on a stack of optimistic assumptions that are not very sturdy. The base case here won't get most investors to the million-dollar mark with a reasonable amount of investing over time, even if it will likely make them significantly richer.

Most investors will be better served by stretching the time horizon out, lowering the monthly contribution to a level that will not tempt them to bail during a crash, and letting the network's slower, steadier growth do the heavy lifting during the next 15 or 20 years instead.

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Alex Carchidi has positions in Ethereum and Solana. The Motley Fool has positions in and recommends Ethereum and Solana. The Motley Fool has a disclosure policy.

Key Points

• Nvidia recently became the world's largest company, thanks to booming sales of its data center chips.

• Some of Nvidia's biggest customers are on track to spend a record amount of money on AI data center infrastructure and chips this year.

• Nvidia will release its fiscal 2026 second quarter financial results on Aug. 27, and all signs point to another blowout result.

• These 10 stocks could mint the next wave of millionaires ›

Nvidia (NASDAQ: NVDA) stock has soared by 1,100% since the beginning of 2023, which is when the artificial intelligence (AI) revolution really started to gather momentum. It's now the largest company in the entire world thanks to its market capitalization of $4.3 trillion, but I think its stock still has room for upside.

Nvidia supplies the world's most powerful graphics processing units (GPUs) for data centers, which have become the gold standard for AI development. Tech giants like Alphabet and Meta Platforms recently told shareholders they plan to spend more on AI data center infrastructure this year than originally anticipated, and they are among the chipmaker's largest customers.

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Nvidia is scheduled to release its financial results for its fiscal 2026 second quarter (ended July 30) on Aug. 27. Here's why I think the report could be a catalyst for more upside in its stock.

AI infrastructure spending continues to climb

Nvidia's H100 GPU was the hottest data center chip for AI training and AI inference workloads in 2023, when large language models (LLMs) started going mainstream. Those LLMs were great at delivering one-shot responses, which created a fast and convenient way for users to find information, but they were sometimes inaccurate.

The latest generation of AI models focuses on "reasoning," which means they spend more time operating in the background to weed out errors before rendering responses. According to Nvidia CEO Jensen Huang, these models consume up to 1,000 times more tokens (words, symbols, and punctuation) than the old one-shot LLMs, so they require substantially more computing capacity.

Nvidia developed the Blackwell and Blackwell Ultra GPU architectures to deliver that capacity. Blackwell Ultra GPUs like the GB300 offer up to 50 times more performance than the H100 in certain configurations, and these chips were forecast to start shipping in the second half of calendar year 2025. Since Nvidia's fiscal Q2 2026 included July, investors should expect a sales update in the company's upcoming earnings report on Aug. 27.

All signs point to astronomical demand, because many of Nvidia's largest customers continue to ramp up their data center infrastructure spending. Alphabet, for instance, just raised its 2025 capital expenditures (capex) forecast from $75 billion to $85 billion. Meta Platforms also increased the low end of its capex guidance from $64 billion to $66 billion, but the company says it could spend up to $72 billion.

Amazon, on the other hand, allocated $55.7 billion to capex during the first two quarters of 2025, and its guidance suggests that its full-year spending could top a whopping $118 billion. Most of that will go toward AI data center infrastructure and chips.

Nvidia's upcoming report could be another blockbuster

Nvidia's guidance suggests that its total revenue came in at around $45 billion in Q2 of fiscal 2026, which would be a 50% increase from the year-ago period. If previous quarters are any indication, the data center segment likely represented around 90% of total revenue, led by GPU sales.

Wall Street's consensus estimate (provided by Yahoo! Finance) suggests that the company also delivered earnings of around $1 per share during the quarter, which would be a 47% jump year over year. This number can influence Nvidia's valuation, and hence the direction of its stock, so it's an important one for investors to watch.

Wall Street will also focus on management's forecast for the upcoming fiscal 2026 third quarter, because it's likely to reflect demand for the new Blackwell Ultra GPUs. Analysts will be looking for revenue guidance of around $52 billion, so any number above that could be very bullish for Nvidia stock.

Nvidia stock could soar after Aug. 27

Nvidia reported its financial results for the first quarter of fiscal 2026 on May 28, and its stock is up 33% since then. I think the Q2 report on Aug. 27 will be another upside catalyst, as long as the company's results don't fall short of expectations.

Nvidia stock is trading at a price-to-earnings (P/E) ratio of 60.1 as of this writing. That's right in line with its 10-year average, suggesting it's at fair value. However, the picture looks very different if we value the stock based on the company's future potential earnings.

Wall Street predicts that Nvidia will deliver earnings of $4.30 per share during fiscal 2026 overall, which places its stock at a forward P/E ratio of just 43. In other words, the stock would have to climb by 40% over the next six months just to maintain its current P/E ratio of 60.1.

NVDA PE Ratio data by YCharts.

Since so many of Nvidia's top customers have increased their capex forecasts for this year, I think the company will easily meet expectations on Aug. 27, and potentially even exceed them. Either of those scenarios will lay the groundwork for more upside in its stock from here.

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Anthony Di Pizio has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet, Amazon, Meta Platforms, and Nvidia. The Motley Fool has a disclosure policy.

Key Points

• The Federal Reserve cut interest rates three times between September and December last year, but it hasn't made a move in 2025 just yet.

• Inflation is hovering near the Fed's target and the jobs market is deteriorating, so Wall Street thinks rate cuts will resume in September.

• Lower interest rates can be good for the stock market, but there could be some short-term volatility as recession fears loom.

• These 10 stocks could mint the next wave of millionaires ›

The U.S. Federal Reserve lowered the federal funds rate (overnight interest rate) three times between September and December last year, reversing some of its aggressive hikes from 2022 and 2023. The rate cuts were justified because inflation -- as measured by the Consumer Price Index (CPI) -- cooled from its 2022 levels, when it hit a 40-year high of 8%.

The Fed has held interest rates steady this year, but with the CPI now a stone's-throw away from its annualized target of 2%, and the jobs market showing signs of weakness, Wall Street is betting that another cut is on the way in September.

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Although lower interest rates are typically good for the stock market, history suggests they could trigger some short-term volatility. Here's what it means for the benchmark S&P 500 (SNPINDEX: ^GSPC) index.

Interest rate cuts could resume in September

The inflation surge in 2022 was driven by a combination of factors stemming from the pandemic. The U.S. government injected trillions of dollars into the economy during 2020 and 2021 to offset the negative effects of lockdowns and social restrictions. At the very same time, the Fed slashed the federal funds rate down to a historic low of 0.13%. The central bank also launched a multi-trillion-dollar quantitative easing (QE) program to support the financial system.

To top things off, everyday products were in short supply as factories closed all over the world to stop the spread of the virus, which sent prices surging.

The Fed started raising the federal funds rate in March 2022, and it reached a two-decade high of 5.33% at the time of the last hike in August 2023. The central bank hoped this policy shift would bring inflation down by reducing economic activity, and it seems to have worked. The CPI increased by 4.1% in 2023 and then by 2.9% in 2024, so it was clearly trending toward the Fed's 2% target.

That's why the central bank felt confident in cutting interest rates three times between September and December last year, bringing the federal funds rate down to 4.33%. But with the CPI now at an annualized rate of 2.7%, the CME Group's FedWatch tool suggests that there could be additional rate cuts in September, October, and December this year.

In fact, FedWatch suggests that Wall Street is pricing in an 81.5% chance of a cut in September, up from a 64% chance just one month ago. What changed? On Aug. 1, the Bureau of Labor Statistics (BLS) released its monthly non-farm payrolls report, showing that the U.S. economy added just 73,000 jobs during the month of July.

It was much lower than the 110,000 jobs economists were expecting, and to make matters worse, the BLS revised the May and June numbers down by a combined 258,000 jobs. In other words, the U.S. economy might be performing far worse than most Wall Street analysts and economists thought, hence the growing calls for lower interest rates.

Interest rate cuts often send jitters through the stock market

Conventional wisdom suggests lower interest rates are good for the stock market. They allow companies to borrow more money to fuel their growth, and smaller interest payments can boost their profits. Moreover, declining interest rates reduce the yield on risk-free assets like cash and Treasury bonds, pushing investors into growth assets like stocks. All of these things are tailwinds for the S&P 500.

However, a rapid decline in interest rates can also make investors nervous, because it would be a sign of weakness in the economy. Businesses might halt capital investments in that scenario, especially if they see cracks in consumer spending. That would be bad news for corporate earnings and potentially send the stock market lower.

In fact, every time the Fed cut interest rates sharply over the last 25 years, a correction in the S&P 500 followed.

^SPX data by YCharts.

There were unique circumstances surrounding each of the above easing cycles from the Fed. The dot-com internet bubble burst in 2000, followed by the global financial crisis in 2008, and then the pandemic in 2020, so interest rate cuts didn't cause the stock market declines. However, it's clear that many investors will temporarily exit the market in the face of economic uncertainty, even with interest rates coming down.

Look out for more economic weakness

Economic crashes are difficult to predict, and so are garden variety recessions. But economists at JPMorgan Chase recently said a decline in labor demand of the magnitude we saw in the July jobs report on Aug. 1 -- along with the revisions for May and June -- is a recession warning signal.

Economist Mark Zandi from Moody's Analytics is even more concerned, saying outright that the U.S. economy is on the precipice of a recession following last week's employment report. He also points to flat consumer spending, and declines in construction and manufacturing spending, to support his view.

If those experts are right, then the Fed is likely to continue cutting interest rates in September. If the economic weakness flows through to corporate earnings, then we could see a sharp correction in the S&P 500 at the very same time.

I'm not suggesting investors should sell stocks right now. The index enters a bear market (a decline of 20% or more) once every six years, on average, so volatility is a normal part of the investing journey. History proves that the S&P always recovers to set new highs given enough time. So any weakness will probably be a buying opportunity for long-term investors, rather than a reason to panic.

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JPMorgan Chase is an advertising partner of Motley Fool Money. Anthony Di Pizio has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends JPMorgan Chase. The Motley Fool recommends CME Group. The Motley Fool has a disclosure policy.

Key Points

• Vertex Pharmaceuticals should deliver exceptional returns, regardless of what the stock market does.

• Dominion Energy is not your father's utility stock.

• UnitedHealth Group looks like a great bad-news buy.

• These 10 stocks could mint the next wave of millionaires ›

When dark clouds appear on the horizon, it's wise to grab an umbrella, even if the sun is still shining overhead. You'll want to be prepared in case a heavy rain is on the way. I think this is a good metaphor for investors to heed.

The stock market is performing well, with the S&P 500 (SNPINDEX: ^GSPC) near its all-time high. However, some warning signs are readily apparent. The ratio of total stock market capitalization to GDP (commonly referred to as the Buffett Indicator) is also at a record high -- and above a level that Warren Buffett referred to as "playing with fire." The latest employment numbers are worrisome. Inflation is creeping upward. And the full brunt of the Trump administration's tariffs has yet to be felt.

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If putting money in the stock market right is the equivalent of going outside with dark clouds on the horizon, what's the "umbrella" for investors? Buying stocks that are poised to perform well even if the overall market sinks. With that in mind, here are my picks for the best stocks to invest $1,000 in right now.

1. Vertex Pharmaceuticals

I think taking nearly half of an initial $1,000 and buying one share of Vertex Pharmaceuticals (NASDAQ: VRTX) is a smart move. This biotech stock should deliver exceptional returns, regardless of what the stock market does.

Vertex doesn't have to worry about economic turbulence affecting its revenue and profits. Doctors will prescribe its cystic fibrosis (CF) therapies without missing a beat for a simple reason: There aren't any other approved drugs that treat the underlying cause of the rare genetic disease.

Likewise, the commercial launch of Vertex's newest drug, Journavx, should gain momentum come rain or shine. Journavx fills a key void in treating acute pain. It's highly effective, but isn't addictive like opioids.

Vertex's late-stage pipeline also gives investors several lottery tickets with great odds. The drugmaker is evaluating inaxaplin as a treatment for APOL1-mediated kidney disease. Povetacicept's first targeted indication is another kidney disease, IgA nephropathy. Zimislecel holds the potential to cure severe type 1 diabetes.

I think all of these drugs could be huge winners for Vertex if phase 3 testing goes well.

2. Dominion Energy

To paraphrase an old car commercial, Dominion Energy (NYSE: D) is not your father's utility stock. Its share price is low enough that you can scoop up three or four shares and still have enough left to buy the last stock on our list.

Don't get me wrong, though: Dominion has all the advantages your parents or grandparents would expect from a utility stock. And like most utility stocks, Dominion also pays an attractive dividend. Its forward dividend yield currently stands at 4.37%.

Dominion's business is also rock-solid and protected from competition. The company provides regulated electricity service to around 3.6 million homes and businesses in three Southern states -- Virginia, North Carolina, and South Carolina. It also provides regulated natural gas service to roughly 500,000 customers in South Carolina.

One intriguing thing about Dominion is that it's outperforming the S&P 500 in what has become a pretty good year so far for stocks. Another is the company's solid growth prospects, driven partly by the demand for artificial intelligence (AI). Dominion's home state of Virginia hosts the world's largest data center market.

3. UnitedHealth Group

You might be surprised to see UnitedHealth Group (NYSE: UNH) on the list. But I view this stock as a great bad-news buy, with its share price below $250.

I won't try to sweep UnitedHealth Group's challenges under the rug. The company continues to experience higher-than-anticipated medical costs, especially with its Medicare Advantage plans. It's being investigated by the U.S. Department of Justice for its Medicare billing practices. And UnitedHealth's Optum Rx unit, like other pharmacy benefits managers (PBMs), is under intense political scrutiny.

However, I believe that all these negatives are more than baked into UnitedHealth Group's share price. The stock trades at 10.3 times trailing-12-month earnings, its lowest valuation since the aftermath of the Great Recession.

More importantly, I view the company's issues as temporary. I fully expect premium increases will enable the company to restore earnings growth next year. UnitedHealth Group has survived DOJ investigations in the past and come out on top. I don't think PBMs are going away, either.

If the stock market tanks, my hunch is that UnitedHealth Group will hold up better than most stocks because it's already oversold. And I predict the stock will rebound as it emerges from the shadows cast by its numerous challenges.

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Keith Speights has positions in Dominion Energy and Vertex Pharmaceuticals. The Motley Fool has positions in and recommends Vertex Pharmaceuticals. The Motley Fool recommends Dominion Energy and UnitedHealth Group. The Motley Fool has a disclosure policy.

Key Points

• Berkshire Hathaway once again was a net seller of stocks.

• Buffett also snubbed repurchasing Berkshire stock, despite having a huge stockpile of cash.

• Buffett clearly remains cautious on the stock market at current valuation levels.

• These 10 stocks could mint the next wave of millionaires ›

Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) and its chief executive officer, legendary investor Warren Buffett, continued to shun stocks in Q2. Buffett has long been considered one of the world's best investors, but he's been selling a lot more stocks than buying recently.

In fact, the second quarter was the 11th straight quarter in which Buffett was a net seller. During the quarter, he bought about $4 billion in stock while selling roughly $7 billion. Last year, Buffett aggressively pared his stakes in a few top holdings, most notably Apple and Bank of America. In total, he was a net seller of more than $130 billion worth of stock last year.

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Berkshire also continued its streak of not buying back any of its own stock. The conglomerate hasn't made any repurchases since May 2024. Buffett previously would only buy back stock when Berkshire shares were trading at 1.1 times book value or below, before later moving it to 1.2 times. It then stopped using price-to-book (P/B) altogether, saying it wasn't necessarily reflective of Berkshire's true intrinsic value.

However, as Berkshire's P/B has crept up, he's stopped buying back stock. Berkshire P/B now stands at 1.5 times, down from about 1.8 times earlier this year and closer to where it's been trading the past few years. It will likely have to write down its investment in Occidental Petroleum, as it is carrying the 25% position it has in the stock on its balance sheet at more than $4 billion above its current value, but given Berkshire's size, that should have a minimal impact on its book value.

Meanwhile, Berkshire ended the quarter with a colossal $344 billion in cash and equivalents on its balance sheet. Taken altogether, it appears that Buffett continues to think the value of stocks, including his own, remains too high.

In Berkshire's annual letter from March, Buffett said he believed investing in good businesses is still the best use of cash over the long term. However, he noted that given its size, Berkshire isn't able to nimbly make large investments, so it needs to get them right the first time.

As for Berkshire's Q2 results, they were nothing to write home about. After-tax operating profit fell 4% to $11.2 billion, but that was largely due to currency swings. The company saw strength at its Burlington Northern Santa Fe railroad, where operating income climbed 20%, while its utility portfolio saw a 7% jump in profit. Its insurance underwriting profit, however, sank 12%. Meanwhile, it warned that the one big beautiful bill signed into law could hurt its utility business due to a reduction in tax credits for renewable energy. Berkshire's utility business has one of the largest portfolios of wind farms in the country.

Should investors follow Buffett's lead?

Buffett is clearly cautious about the stock market at this time, including his own company's stock. He's been reducing Berkshire's equity positions while also not buying back stock. That combination has led to Berkshire having a mountain of cash at its disposal, which he hasn't felt inclined to use.

If Buffett thinks Berkshire stock is overvalued and doesn't want to buy it, I think that is a good indication that investors shouldn't be piling into it at this moment. If he starts buying back shares again, then investors can return to more aggressively buying the stock for themselves.

As for the market as a whole, I would not recommend trying to time the market for the average investor. The best course of action is to still follow a simple dollar-cost averaging strategy, where you invest a set amount each month. Exchange-traded funds (ETFs) can be a great vehicle for this strategy, as can Berkshire stock itself, as it is a sound collection of businesses and stocks.

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Bank of America is an advertising partner of Motley Fool Money. Geoffrey Seiler has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Apple and Berkshire Hathaway. The Motley Fool recommends Occidental Petroleum. The Motley Fool has a disclosure policy.

Key Points

• Palantir topped $1 billion in quarterly revenue for the first time.

• Considering the company's extreme valuation, it may be tempting to take profits.

• These 10 stocks could mint the next wave of millionaires ›

Palantir Technologies (NASDAQ: PLTR) just keeps steaming along. The company had another great earnings report for the third quarter, sending the stock higher again. The year's best-performing stock in the S&P 500 is up 128% just this year, and by an incredible 600% in the last 12 months.

Before Palantir's earnings, I noted three of the most important metrics that investors should consider when evaluating the results -- revenue growth, customer growth and the company's backlog. In all three cases, Palantir managed to exceed expectations, which is why the stock is setting new all-time highs.

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Now that the dust has settled, it's time to take a fresh look at Palantir in the wake of its earnings report. Should investors still be bullish, or is it time to start taking profits? Or perhaps investors would do well to sit back and wait.

Here's a peek behind the curtain of Palantir stock.

Palantir's earnings dominance

Palantir operates dominant artificial intelligence (AI) platforms that specialize in pulling information from multiple sources to allow users to make real-time decisions. Its Gotham platform is used by governments and militaries to tap into satellites and scour other sources of information to help commanders position their troops and achieve objectives.

The company's work came to light when it was credited for helping the U.S. military track down 9/11 mastermind Osama bin Laden. Under the Trump administration, it's greatly expanding its work to include Homeland Security, the State Department, the Federal Aviation Administration, and the Centers for Disease Control and Prevention.

Meanwhile, Palantir's Foundry platform is used by commercial customers to help manage a range of activities from hospital records to supply chains and reduce manufacturing costs. Both platforms operate in coordination with Palantir's Artificial Intelligence Platform (AIP), which allows users to type in detailed prompts to get recommendations and insights that are delivered through generative AI. When Palantir unveiled its AIP more than a year ago, its stock really took off.

The momentum continued in the second quarter, when Palantir's quarterly revenue topped the $1 billion mark for the first time, up 48% from a year ago. Income was $269.3 million, up 27% from last year. Breaking it down further, Palantir saw U.S. commercial revenue jump 93% to reach $306 million and U.S. government revenue rise 53% to $426 million.

The company's customer count also jumped, rising 43% from a year ago and 10% from the first quarter. Palantir closed 157 deals in the quarter valued at at least $1 million, and 42 that were valued at at least $10 million.

In addition, Palantir has a long runway of additional growth. The company says it has $2.42 billion in total remaining performance obligations, up from $1.37 billion in the second quarter of last year and up from $1.9 billion in the first quarter. When I analyzed Palantir before its most recent earnings report, I said I would consider anything over $2.15 billion to be a strong number -- and Palantir blew that out of the water.

So where do we go from here -- buy, sell, or hold?

The argument to buy

Simply put, Palantir is a world-changing company that has exploded to become one of the most consequential of our time. With a market cap of more than $400 billion now, Palantir is bigger than Home Depot and Procter & Gamble. At the time of this writing, it ranks as No. 23 in the world in size.

With the U.S. government eager to expand Palantir's role and dozens of commercial clients lining up to take advantage of the company's unique abilities, I'm firmly convinced that it's just getting started. CEO Alex Karp has the same vision.

In his most recent letter to shareholders, he boldly states: "With continued execution, and a focus on what matters and a near complete disinterest in what does not, we believe that Palantir will become the dominant software company of the future. And the market is now waking up to this reality."

The argument to sell

I'm a Palantir bull but recognize that the valuation of this stock is out of control. For instance, the company has a price-to-earnings ratio (P/E) of 777 and a forward price-to earnings ratio of 307. That's more than a nosebleed level that's overly inflated because Palantir is reinvesting a lot of its profits. But it would also be ridiculous for anyone to assume that the company will keep that same rate of growth.

Instead of P/E, let's use the price-to-sales ratio (P/S) to forecast reasonable growth. Assume that Palantir generates 40% revenue growth in the next year -- a number that would actually be slowing from its current pace. With that growth, it would have annual revenue of roughly $4.4 billion. As the company has a forward price-to-sales valuation of 108, this would give it a projected market cap in a year of $471 billion -- which would give it roughly the same market cap as Netflix.

That's fine growth, but the market isn't going to keep paying this multiple if the market cap upside is only 18% in the next year -- especially when you consider how dynamic its growth has been so far.

PLTR Market Cap data by YCharts.

Either the valuation begins to return to Earth or the stock remains overly inflated. But I can't think of a reasonable argument based on math instead of momentum for Palantir to sustain its current valuation. With the stock price up 600% in the last 12 months, I couldn't blame anyone for a little profit-taking here.

The argument to hold

This is a simple play -- sit back and wait for more information. If you're not day trading, then it's often wrong to overreact to the news of the day because timing the market is virtually impossible. You'll tend to lose out on opportunities and rack up way too many fees by buying and selling too much. As long as you're confident in the quality of the company, there's nothing wrong with emulating the master of buy-and-hold investing, Warren Buffett.

The final call

While the momentum is all for buying Palantir and the math says to sell, I'm bridging the middle and holding. I think that the opportunity surrounding Palantir is too valuable to discard, but I'm not eager to buy more of the stock at this valuation.

I think that's the right play -- particularly if you have Palantir as part of a well-balanced portfolio. However, if the company is one of a few holdings or it makes up an overly large percentage of your overall holdings, then this is the ideal time to rebalance and reduce your overall exposure.

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When our analyst team has a stock tip, it can pay to listen. After all, Stock Advisor’s total average return is 1,026%* — a market-crushing outperformance compared to 180% for the S&P 500.

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Patrick Sanders has positions in Palantir Technologies. The Motley Fool has positions in and recommends Home Depot, Netflix, and Palantir Technologies. The Motley Fool has a disclosure policy.

Key Points

• The annual COLA is based on a specific measure of inflation in the third quarter of each year.

• Higher inflation would result in paying out more in benefits, but it could also mean more revenue for the Social Security program.

• A bigger COLA hasn't always been the best thing for retirees relying on it to keep up with actual costs.

• The $23,760 Social Security bonus most retirees completely overlook ›

The vast majority of seniors are heavily reliant on Social Security to make ends meet in retirement. In a survey conducted by the advocacy group The Senior Citizens League last year, over two-thirds of respondents said they rely on Social Security for at least half of their income. And 27% said it was their only source of income in retirement.

As such, the annual cost-of-living adjustment, or COLA, is of utmost importance to most retirees. It helps the bulk of their income to keep up with inflation. So far in 2025, inflation has continued to run high despite efforts by the Federal Reserve to push it lower. While we won't have an exact number until October, analysts expect the 2026 COLA to come in around 2.6% or 2.7%.

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But the Social Security Board of Trustees laid out different scenarios for seniors earlier this year in its annual report. And if inflation remains stubborn, recipients could be in store for an even bigger raise next year in their COLA.

When will Social Security announce the 2026 COLA?

Congress automated Social Security COLAs in the 1970s, tying the annual increases to a measure of inflation called the Consumer Price Index for Urban Wage Earners and Clerical Workers (the CPI-W).

The Bureau of Labor Statistics is responsible for collecting the necessary data and publishing the CPI-W every month. It collects thousands of data points from around the country on the prices of over 200 items. It then weights each of those prices relative to what percent of spending it represents for the typical urban wage earner or clerical worker.

The annual COLA is based on just three months of data: July, August, and September. The average year-over-year increase in the CPI-W during those months turns into the COLA for the following year.

Since the BLS typically releases the numbers one to two weeks after the month ends, we'll have an official COLA sometime in mid-October each year. The Social Security Administration says it will publish the number on Oct. 15 this year. Retirees will get a notice in December, and their next check in January will reflect that COLA.

Here's the scenario for the highest COLA

When the Social Security Board of Trustees lays out its projections for the health of its trust fund, it includes a high-cost, low-cost, and intermediate projection for all sorts of factors that could affect the program.

The trust fund is currently facing a shortfall because it has paid out more in benefits than it collected in tax revenue for each of the last four years. Moreover, the gap between revenue and expenditures is widening as more baby boomers retire each year and people live longer.

As such, the Board of Trustees estimates it will deplete the Old-Age and Survivors Insurance Trust Fund by 2033. At that point, it will only be able to pay out a fraction of the benefits due from the trust fund.

One of the biggest factors affecting the health of the program is inflation, which impacts the COLA, as detailed above. The best-case scenario for the program is higher inflation, which will result in a higher COLA. While it would mean the program has to pay out more in benefits, it also means wages will likely follow inflation, and it can collect even more in revenue than the increased payout.

In its 2025 Trustees' Report, the Board said its low-cost estimate for next year's COLA is 3%. That would require a surge in inflation in July, August, and September, after climbing 2.6% in June. That said, there are a number of factors that could lead to higher inflation this summer, including the implementation of tariffs on many imports starting Aug. 1.

But a higher COLA isn't necessarily good news for seniors who are heavily reliant on Social Security income in retirement. More often than not, retirees get the short end of the stick when the CPI-W climbs faster than average, and the COLA fails to keep up with the actual rise in costs for the average senior.

Seniors often spend a higher percentage of their income on things like healthcare and housing. Healthcare prices are rising so much these days that many seniors may not even see an increase in their monthly benefits next year as Medicare Part B premiums completely eat away at the COLA. Most retirees are better off with slow and steady inflation, resulting in a lower COLA.

Even if a higher COLA is better for the health of Social Security, it's not necessarily what most seniors should be hoping for.

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Key Points

• These stocks have all been raising their payouts for decades.

• They pay between 4.5% and 4.9% in dividends.

• They have solid financials, which can enable them to continue paying and growing their dividends in the future.

• These 10 stocks could mint the next wave of millionaires ›

Dividend growth stocks can be great long-term investments to put into any portfolio. If a company grows its dividend on a regular basis, that can help ensure that inflation doesn't diminish the value of the payout over time. And the longer you hang on, the higher your dividend income becomes.

Dividends increases are by no means a guarantee, and that's why it's important to focus on quality stocks. Three solid dividend stocks that you may want to consider loading up on today include Target (NYSE: TGT), T. Rowe Price Group (NASDAQ: TROW), and Chevron (NYSE: CVX). Not only do these stocks offer high yields in excess of 4%, but they have also grown their payouts over the years, have strong financials, and they look incredibly cheap right now.

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1. Target

Retail giant Target has been struggling with generating much growth this year as consumers cut back on discretionary spending amid economic challenges. But despite the headwinds, the company's financials aren't all that bad. For the period ended May 3, Target's net sales declined by just 3%, to $23.8 billion. And its net earnings actually improved by 10%, to more than $1 billion, as the company has been cutting costs.

Shares of Target have been under pressure this year as investors brace for continued struggles from the retailer. But while it may not be a great growth stock to own right now, Target remains a dependable option for dividend investors. It yields 4.5%, and the company raised its dividend by just under 2% this year, extending its streak of increases to 54 consecutive years.

At an incredibly low price-to-earnings multiple of only 11, Target can be a great value buy today. The business may not be experiencing strong growth, but with a low payout ratio of just 49%, it can make for a great dividend stock to buy and hold.

2. T. Rowe Price Group

Global investment firm T. Rowe Price is another solid dividend stock to add to your portfolio today. Year to date, it's down around 6%, but its overall performance has been steady.

During the first six months of the year, the company's net revenue totaled $3.5 billion, which was virtually unchanged from a year ago. Rising costs did, however, chip away at its bottom line, which was down 6%, with earnings totaling just under $1 billion over the past two quarters.

The stock yields 4.9%, and T. Rowe has increased its dividend for 39 consecutive years. In February, it announced it was increasing its dividend by more than 2%. Its payout ratio is modest at 56% of earnings, leaving plenty of room for the company to continue making more rate hikes for the foreseeable future.

Trading at less than 12 times earnings, this is another cheap dividend growth stock worth buying right now.

3. Chevron

Rounding out this list of high-yielding dividend growth stocks is oil and gas giant Chevron. It pays 4.5%, as it also provides investors with a terrific source of recurring cash flow. While there is volatility that comes with investing in this sector, Chevron is a leading player in it, making it one of the safer options for dividend investors to consider. Amid a myriad of economic cycles and challenges, it has remained a solid dividend growth stock -- Chevron has raised its payout for 38 straight years.

The company has experienced volatility this year due to falling oil prices. Over the past six months, its revenue totaled $92.4 billion, which was down 7% year over year. And its adjusted earnings fell by 32% to $6.9 billion. But its cash flow from operations totaled $13.8 billion, which was still considerably higher than how much it paid out in dividends -- $5.9 billion.

There will be fluctuations in earnings for Chevron, but with the company growing its exposure in the industry, including its recent acquisition of Hess, which has a strong portfolio of assets in Guyana, this is a continually growing business that investors can rely on for the long haul.

Chevron's stock trades at 18 times its estimated future earnings (based on analyst expectations). By comparison, the average stock on the S&P 500 (SNPINDEX: ^GSPC) trades at a forward earnings multiple of 24. For an industry leader, Chevron's valuation looks incredibly cheap.

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Key Points

• Confluent developed an industry-leading data streaming platform that helps companies create live digital experiences for their customers.

• Confluent is tapping into a new opportunity in the artificial intelligence (AI) space, which could be a major growth driver over the long term.

• Confluent stock is down 81% from its 2021 record high, and it's the cheapest it has ever been by one popular valuation metric.

• These 10 stocks could mint the next wave of millionaires ›

Data streaming powers a growing number of our digital experiences every day. Retailers use it to provide us with live inventory information on their websites so we know whether a product is in stock in real time. Investing and sports betting platforms, on the other hand, use it to feed live prices and odds directly to our smartphones.

Confluent (NASDAQ: CFLT) developed an industry-leading data streaming platform, which is now also becoming a critical tool in artificial intelligence (AI) applications, creating a whole new opportunity for the company.

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Confluent stock plunged by 30% after it released its operating results for the second quarter of 2025 (ended June 30) last week, and it's now down by 81% from its record high from 2021. But The Wall Street Journal tracks 36 analysts who cover Confluent stock, and the overwhelming majority remain bullish. Therefore, here's why its poor performance could be a long-term buying opportunity.

Data streaming is revolutionary

If you wanted to watch a movie at home 20 years ago, you would have to buy or rent a DVD. Today, streaming platforms like Netflix store movies in data centers and feed them directly to your television using the internet. This created a more convenient viewing experience by eliminating the need for DVDs, DVD players, and even movie rental chains like Blockbuster.

Data streaming is conceptually similar. Businesses used to store data in physical servers on-site, and they would analyze it at a later date. Cloud computing providers like Amazon reduced the need for that hardware by allowing them to store their information in centralized data centers, where they can access it online at any time. Data streaming platforms like Confluent enable that information to be ingested, analyzed, and processed in real time, to create unique live experiences.

Retail giant Walmart synced all of its physical and digital sales channels, and it uses data streaming to monitor inventory levels in real time. Therefore, customers can trust Walmart's website when it says a product is in stock. And since the retailer knows the moment a product is sold, it can replenish inventories before they run dry, which ensures customers always find what they are looking for in its physical stores as well.

Shifting gears to AI, businesses can use Confluent to create data pipelines that they can plug into ready-made large language models (LLMs) from developers like OpenAI. In other words, Confluent provides the plumbing that can turn a generic AI chatbot into a tailored assistant that is capable of handling highly specific requests from customers.

Moreover, Confluent says one of its AI customers is an international sports network that is ingesting data from live matches and using it to instantly generate commentary in real time. This wouldn't be possible without high-performance data pipelines.

Confluent beat expectations during the second quarter

Confluent went into the second quarter of 2025 expecting to deliver up to $268 million in subscription revenue (its primary source of revenue). It topped that estimate with $270.8 million, which represented a 21% increase from the year-ago period.

A couple of things contributed to the strong result. First, Confluent's net revenue retention rate was 114%, and while that ticked lower from the previous quarter, it meant existing customers were spending 14% more money with the company than they were a year ago. Second, Confluent attracted new customers of all sizes. The number of customers spending at least $100,000 annually grew by 10% year over year, and the number of customers spending at least $1 million jumped by 24%.

But it wasn't all good news. In his prepared remarks to investors, CEO Jay Kreps said some of Confluent's largest customers continued to optimize their spending, and one AI-native customer is moving away from the platform entirely because it wants to handle its data management internally. Kreps said this will lead to slower revenue growth than initially anticipated in the second half of this year, which is why Confluent stock plunged last week.

With that said, the overall outlook is still positive because management actually increased the low end of its 2025 revenue forecast by $5 million

Wall Street is bullish on Confluent stock

The Wall Street Journal tracks 36 analysts who cover Confluent stock, and 21 have given it a buy rating. Five others are in the overweight (bullish) camp, and nine recommend holding. One analyst has given the stock an underweight (bearish) rating, but none recommend selling.

The analysts have an average price target of $25, which suggests Confluent stock could climb by 45% over the next 12 to 18 months. The Street-high target of $36 implies even more potential upside of 108%.

However, I think the stock could do even better over the long term. Confluent expects production AI use cases to soar tenfold this year among just a few hundred of its customers. It's an early sign that companies are starting to deploy AI software into the real world, and Confluent will benefit as this adoption ramps up.

Moreover, the company values its addressable market at $100 billion across its entire product portfolio, and it barely scratched the surface of that opportunity based on its current revenue.

Confluent's price-to-sales (P/S) ratio soared to an unsustainable level of around 60 when its stock peaked during the tech frenzy in 2021. But the 81% decline in its stock, combined with the company's steady revenue growth over the last few years, has pushed its P/S ratio down to just 5.2. That's officially the cheapest level since the stock went public.

CFLT PS Ratio data by YCharts

Therefore, investors who are willing to take a long-term view could be rewarded by buying Confluent stock at the current price. However, they will probably have to endure some volatility along the way.

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Key Points

• Hecla Mining (NYSE:HL) reported record quarterly revenue of $304.0 million for Q2 2025.

• GAAP earnings per share were $0.09. GAAP earnings per share more than doubled from the prior year.

• Free cash flow (non-GAAP) reached a record $103.8 million, with substantial improvements in cost performance and debt reduction.

• These 10 stocks could mint the next wave of millionaires ›

Hecla Mining (NYSE:HL), a leading North American silver and gold producer, released its earnings for the second quarter of fiscal 2025 on August 6, 2025. The company reported record revenue of $304.0 million. Revenue increased 23.7% over the prior year. Earnings per share (GAAP) came in at $0.09. Hecla also generated its highest ever quarterly free cash flow (non-GAAP), reporting a record $103.8 million, supporting further debt reduction and improved operational efficiency. Management described the period as record-setting, with significant progress on cost containment and asset productivity.

Metric	Q2 2025	Q2 2025 Estimate	Q2 2024	Y/Y Change
EPS (GAAP, Diluted)	$0.09	N/A	$0.04	125%
Revenue (GAAP)	$304.0 million	N/A	$245.7 million	23.7%
Adjusted EBITDA	$132.5 million		$90.9 million	45.8%
Free Cash Flow	$103.8 million		($2.2 million)	N/A
Cash Cost per Silver Ounce (after by-product credits)	($5.46)	-$7.54	$2.08	—
AISC per Silver Ounce (after by-product credits)	$5.19		$12.54	(58.6%)

Source: Analyst estimates provided by FactSet. Management expectations based on management's guidance, as provided in Q1 2025 earnings report.

Understanding Hecla Mining’s Business and Strategic Focus

Hecla Mining is one of the largest silver producers in the United States and Canada, with a portfolio that includes the Greens Creek and Lucky Friday mines, Casa Berardi gold mine, and the Keno Hill silver project. It produces silver, gold, zinc, and lead from its underground operations. The company’s focus is on operational efficiency, cost management, and expanding its portfolio through targeted exploration and disciplined acquisitions.

Hecla’s recent business strategy has centered on several key areas. These include optimizing production at core assets, lowering costs per ounce of silver through efficient operations, and actively managing metals price volatility. Growth projects like Keno Hill and asset reviews, mainly at Casa Berardi, are also important. Maintaining regulatory compliance and developing a skilled workforce have been additional priorities, supporting both operational excellence and long-term growth.

Quarterly Highlights: Financials, Operations, and Segment Performance

The period marked record quarterly revenue, adjusted EBITDA, and free cash flow for Hecla. Revenue (GAAP) reached $304.0 million, Revenue increased 23.7% from the prior year. GAAP earnings per share increased from $0.04 in Q2 2024 to $0.09, a 125% year-over-year growth, landing at $0.09 (GAAP) Adjusted EBITDA (non-GAAP), an indicator of underlying profitability, climbed 46% to a new high of $132.5 million. Notably, Free cash flow (non-GAAP) hit $103.8 million, reversing a negative free cash flow (non-GAAP) position in the prior year. Management attributed this to higher operating cash flow, better working capital, and increased metals prices.

The company also improved its balance sheet. Net leverage ratio (non-GAAP), which measures debt against adjusted EBITDA, dropped to 0.7 from 2.3 in the prior year, reflecting the announced partial debt repayment of $212 million in senior notes, expected to close in mid-to-late August and a substantial increase in cash reserves to $296.6 million. These steps are expected to trim annual interest expense by around $17.8 million. The company’s hedging activity covered approximately 12% of 2025–2026 zinc and 24% of lead output as of June 30, mitigating some pricing risk in its base metals revenue stream.

Operationally, the company benefited from strong realized prices for silver and gold. Average realized silver price was $34.82 per ounce, up from $29.77 per ounce in the prior year, while average gold selling price soared to $3,314 per ounce. Production highlights included total silver output of 4.52 million ounces and gold production of 45,895 ounces. The Greens Creek mine saw a 21% jump in silver production and a 29% rise in gold output compared to Q1 2025. Greens Creek’s cash cost per silver ounce (after by-product credits)—a non-GAAP metric representing its effective out-of-pocket cost net of revenues from other metals—fell sharply from last year’s figures, landing at a negative $11.91 per ounce.

Lucky Friday achieved a quarterly record for tons milled, with cash costs per silver ounce (non-GAAP) dropping to $6.19, though all-in sustaining cost (AISC)—a non-GAAP measure that includes maintenance and capital spending—remained high at $19.07 per ounce. The Keno Hill project posted its first positive free cash flow (non-GAAP) quarter since acquisition, reflecting progress in operational ramp-up despite the mill running below its 440-ton-per-day capacity. Casa Berardi produced 28,145 ounces of gold, improved its unit costs by over $600 per ounce compared to Q1 2025, and showed strong cost control and free cash flow. Segment free cash flow (non-GAAP) was $69.0 million at Greens Creek, Free cash flow at Lucky Friday was $4.9 million, $2.7 million free cash flow at Keno Hill, and $31.8 million free cash flow (non-GAAP) at Casa Berardi.

Hecla also advanced asset portfolio optimization. Significant steps included the sale of the Kinskuch property, generating a $3.2 million gain, and further asset rationalization as part of the ongoing strategic review of Casa Berardi. Exploration spending totaled $8.3 million, targeting new discoveries and extensions in key districts.

Looking Forward: Guidance, Priorities, and Dividend Status

Management maintained consolidated production and capital spending guidance for fiscal 2025. Silver output is expected between 15.5 and 17.0 million ounces, and gold output guidance has been raised to 126–137 thousand ounces. Capital investment guidance remains set at $222–$242 million. However, cost guidance improved: consolidated cash cost per silver ounce (after by-product credits, non-GAAP) was revised down significantly to between negative $1.25 and negative $0.75, thanks to better-than-expected gold prices and cost controls at the Greens Creek mine. The company continues to focus on scaling up Keno Hill and completing the strategic review of Casa Berardi. No new management guidance was issued regarding longer-term production or capital plans beyond the current year.

Hecla declared a preferred dividend of $0.875 per share and a common stock dividend of $0.00375 per share.

Revenue and net income presented using U.S. generally accepted accounting principles (GAAP) unless otherwise noted.

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JesterAI is a Foolish AI, based on a variety of Large Language Models (LLMs) and proprietary Motley Fool systems. All articles published by JesterAI are reviewed by our editorial team, and The Motley Fool takes ultimate responsibility for the content of this article. JesterAI cannot own stocks and so it has no positions in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

Key Points

• Only 23 companies in the S&P 500 achieved 10x returns in the last decade, but Upstart could make the cut in the next 10 years.

• Upstart uses artificial intelligence to help banks assess the creditworthiness of potential borrowers and make better lending decisions.

• Wall Street expects Upstart's adjusted earnings to grow at 66% annually through 2027, which makes the current valuation look reasonable.

• These 10 stocks could mint the next wave of millionaires ›

A stock must increase 900% to generate a 10x return. Only 23 companies in the S&P 500 (SNPINDEX: ^GSPC) accomplished that during the last decade. But Upstart Holdings (NASDAQ: UPST) more than tripled in value in the last year, and I think it could be a 10x investment over the next decade.

Here's what that implies for shareholders: Upstart currently trades at $79 per share and has a market value of $7.5 billion. The stock must increase 900% to $790 per share to achieve a 10x return. That would bring its market value to $750 billion.

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Here's what investors should know about Upstart.

Upstart uses artificial intelligence to help banks lend money

Upstart operates an artificial intelligence (AI) lending platform built to improve access to affordable credit for consumers, while reducing costs for banking partners. Most lenders make credit decisions with simple rules-based systems that incorporate a limited number of variables. But Upstart uses sophisticated machine learning models informed by 2,500+ variables to determine whether borrowers are creditworthy.

Internal studies have show banks on Upstart's AI platform can approve more borrowers at lower interest rates without an increase in defaults. Alternatively, banks can reduce defaults while approving the same number of borrowers. Either way, lenders benefit from improved profitability. The average Upstart loan originated in the last two years is on track to outperform the two-year Treasury yield by 7.1 percentage points.

Importantly, Upstart says it has a "significant competitive advantage" in that the machine learning models supporting its platform benefit from a network effect, which makes the decisioning engine more accurate each time a borrower makes or misses a payment. The number of data points used to train those models has increase over fourfold since 2022.

Upstart looked strong in the second quarter

Upstart reported encouraging second-quarter financial results that beat estimates on the top and bottom lines. Revenue increased 102% to $257 million and non-GAAP net income was $0.36 per diluted share, up from a loss of $0.17 per diluted share in the same quarter last year. The company also raised its full-year guidance, such that revenue is projected to increase 65% in 2025.

Management provided important context on the earnings call. First, new products (home equity lines of credit and auto loans) accounted for over 10% of total originations for the first time. Second, loan volume held on the company's balance sheet jumped 25% to $1 billion, but most of those loans are considered R&D expenses, meaning the company uses them to test and evaluate AI models.

Importantly, CFO Sanjay Datta says increased loan volume on the balance is a temporary situation. "We have already begun the process of securing external capital to support these initiatives, and we believe these efforts will allow us to transition away from direct balance sheet funding of these in the near-term."

Why Upstart could be a 10x investment over the next 10 years

Upstart currently trades at 90 times adjusted earnings, which sounds expensive without more information. But Wall Street estimates the company's adjusted earnings will increase at 66% annually through 2027, a sensible estimate given its total addressable market exceeds $3 trillion in loan origination volume.

For context, loans originated on Upstart's AI platform totaled $8.6 billion over the last four quarters, meaning the company has captured less than 1% of its addressable market. That leaves room for earnings to grow at 40% annually over the next decade. And in that scenario, Upstart stock could advance 900% while its price-to-earnings multiple dropped to a more reasonable 32.

Importantly, investors should bear in mind that (1) my prediction is rather aggressive and (2) predicting what might happen over a 10-year period is virtually impossible. But I think Upstart is likely to beat the market over the next decade even if the stock does not increase 10 times in value. Patient investors that can tolerate volatility should feel comfortable buying a small position today.

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Key Points

• Certain Wall Street analysts anticipate substantial gains in Bitcoin in the remaining months of 2025 due to growing institutional and corporate adoption.

• The number of large asset managers with positions in the two largest spot Bitcoin ETFs has more than doubled in the past year.

• Bitcoin has declined 20% from a record high three times during the last three years, and investors should expect similar volatility in the future.

• These 10 stocks could mint the next wave of millionaires ›

The iShares Bitcoin Trust (NASDAQ: IBIT) is an exchange-traded fund that tracks the price of Bitcoin (CRYPTO: BTC). The fund is run by BlackRock, the largest asset manager in the world. Bitcoin currently trades at $115,000. But several Wall Street analyst have made predictions that imply big gains in the remaining months of 2025.

• Geoff Kendrick of Standard Chartered says Bitcoin can hit $200,000 this year. That implies 74% upside from its current price. Kendrick also believes Bitcoin can hit $500,000 in 2028.
• Peter Chung of Presto recently told CNBC Bitcoin can hit $210,000 this year. That implies 82% upside from its current price.
• Tom Lee of Fundstrat Advisors thinks Bitcoin can hit $250,000 this year. That implies 117% upside from its current price. Lee also believes Bitcoin can eventually reach $3 million.
• Josh Olszewicz of Canary Capital recently told Schwab Network Bitcoin can hit $300,000 this year. That implies 160% upside from its current price.

Here's what investors should know about the iShares Bitcoin Trust.

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More institutional investors are adding Bitcoin to their portfolios

Boston Consulting Group says institutional investors had about $130 trillion in assets under management (AUM) last year. If even a small percentage of that total were allocated to Bitcoin, its price could increase substantially in the future. And spot Bitcoin ETFs like the iShares Bitcoin Trust have been a powerful catalyst for institutional adoption since winning approval from the SEC in January 2024.

To elaborate, spot Bitcoin ETFs let investors add exposure to the cryptocurrency through existing brokerage accounts, which means they avoid the high fees and complexity that comes with trading on cryptocurrency exchanges like Coinbase. Moreover, SEC approval has legitimized Bitcoin in the eyes of institutional investors.

Recently filed Forms 13F show an important trend: The number of large asset managers (i.e., those with $100 million in securities) with positions in the two most popular spot Bitcoin ETFs -- the iShares Bitcoin Trust and Fidelity Wise Origin Bitcoin Fund -- more than doubled during the first quarter. Investors have good reason to believe that trend will continue.

President Trump vowed to make the United States the "crypto capital of the world" during his campaign last year, and his administration has already brought big changes to the regulatory environment. Cryptocurrency advocate Paul Atkins is now the SEC chairman, and in March, Trump signed an executive order establishing a Strategic Bitcoin Reserve.

Another reason institutional investors are likely to become more involved in cryptocurrency is the asset class (now worth a collective $3.8 trillion) has simply become too big to ignore. And Bitcoin is the most logical starting point because it is the largest, most liquid, and best-known cryptocurrency, according to Bitwise CIO Matt Hougan.

More public and private companies are putting Bitcoin on their balance sheets

More than 200 public and private companies have added Bitcoin to their balance sheets, and the number of Bitcoin they hold has increased 85% since Trump won the presidential election in November, according to Bitcoin Treasuries. Strategy (formerly MicroStrategy) is the best known, but Block, Mara Holdings, Semler Scientific, Tesla, and Trump Media also have large positions in the cryptocurrency.

Importantly, I think more companies will add Bitcoin to their balance sheets in the years ahead for the same reasons discussed in the previous section: Spot Bitcoin ETFs have made adoption easier, cryptocurrency as an asset class is too big to ignore, and the regulatory environment under the Trump administration is much friendlier than under the Biden administration.

Bitcoin has declined sharply on several occasions in the past

Investors should bear in mind the forecasts I've discussed are nothing more than educated guesses. There is no guarantee that Bitcoin becomes more valuable in the future. And even if the forecasts are entirely accurate, gains are likely to be interspersed with periods of sharp declines. Bitcoin has fallen more than 20% from a record high three times in the last three years, and similar volatility is probable in the future.

I think patient investors comfortable with those risks should have a position in Bitcoin, and the iShares Bitcoin Trust -- which bears an expense ratio of 0.25% -- is a relatively cheap and easy way to get that exposure.

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Key Points

• Cryptocurrencies have run circles around Wall Street's major stock indexes over the last decade, with popular digital tokens XRP and DOGE leading the charge.

• Though adoption rates for payment-focused tokens have climbed, they're still quite modest compared to time-tested transaction methods.

• XRP and Dogecoin appear to be prime examples of the financial markets idiom, "buy the rumor, sell the news."

• These 10 stocks could mint the next wave of millionaires ›

Compared to other asset classes, such as bonds, commodities, and real estate, the stock market has been the top wealth creator over the past century. But over the trailing decade, nothing has come close to rivaling the gains delivered by cryptocurrencies.

Whereas the benchmark S&P 500 (SNPINDEX: ^GSPC) has roughly tripled over the trailing decade, prominent payment-based digital currencies XRP (CRYPTO: XRP) and Dogecoin (CRYPTO: DOGE) have soared by more than 34,000% and nearly 117,000%, respectively, based on data from YCharts.

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While these popular cryptocurrencies have become staples in the portfolios of digital-asset investors, both Ripple-created XRP and Dogecoin appear primed for a difficult August, and a potentially rough second-half of 2025, for a variety of reasons.

XRP's and Dogecoin's adoption rates aren't as impressive as you might think

Aside from the appeal of decentralization (XRP is only partially decentralized since it's the bridge currency developed for Ripple's payment network), one of the primary selling points of cryptocurrencies and their underlying blockchain networks is the ability to facilitate peer-to-peer and/or cross-border transactions faster, safer, and considerably cheaper than existing methods.

XRP, which is the bridge currency used in cross-border transactions for financial institutions, and Dogecoin, which is primarily used for peer-to-peer and merchant transactions, have seen their usage rates grow over time.

However, adoption rates remain relatively tame. For instance, in the neighborhood of 300 global financial institutions are using RippleNet for cross-border payments. But what's worth noting is that not all of these banks are required to use XRP as the intermediary currency. While RippleNet grows in adoption, demand for XRP isn't increasing on a 1-for-1 basis.

As for Dogecoin, it received a boost when Tesla CEO Elon Musk, who's been a longtime Dogecoin enthusiast and small stakeholder, announced his company would accept DOGE for select goods. But outside of Tesla, DOGE token use cases are minimal, with around 2,500 merchants accepting it in 2024, based on data collected by Cryptopolitan.

Although traditional payment methods are costlier and slower, they're still the undisputed top option.

Neither XRP Ledger nor Dogecoin offers unbeatable networks

To build on the first point, neither XRP Ledger nor Dogecoin offers blockchain networks that stand out as unbeatable.

To give credit where credit is due, these blockchain networks are considerably faster and cheaper than the Society for Worldwide Interbank Financial Telecommunication, or SWIFT, which has been the standard for cross-border transactions for decades. Instead of waiting days for traditional payments to settle, XRP Ledger can validate and settle payments in three to five seconds for a fraction of a penny.

Meanwhile, Dogecoin averages a settlement time of roughly one minute, with most transactions costing in the neighborhood of $0.02.

However, Solana offers the ability to complete international transactions for a fraction of a cent in an average settlement time of 400 milliseconds. Similarly, Stellar, which is more commonly used for peer-to-peer transactions in similar fashion to DOGE, can settle for a fraction of a penny in five seconds or less.

Buy the rumor, sell the news

Another reason to expect XRP and Dogecoin to struggle mightily in August, if not well beyond, is the common financial markets idiom, "buy the rumor, sell the news."

Both tokens had tangible catalysts entering 2025. President Trump's November victory paved the way for the resignation of now-former U.S. Securities and Exchange Commission Chair Gary Gensler, who was generally skeptical of digital assets and had ongoing litigation against Ripple. With Gensler leaving office on Jan. 20, Trump's inauguration date, it rolled out the red carpet for Ripple's litigation woes to be cleared up.

As for Dogecoin, Trump's victory led to Elon Musk's being used as a special employee for the Department of Government Efficiency (DOGE). Although this "DOGE" has absolutely nothing to do with actual DOGE tokens, Musk's having the president's ear was viewed as a positive for all digital assets -- especially Dogecoin.

The problem is that these catalysts are now firmly in the rearview mirror. Elon Musk is no longer part of DOGE, and Gensler left his role more than six months ago. With no clear immediate catalysts for XRP or Dogecoin, it may be time for investors to "sell the news."

Crypto is tethered to an exceptionally pricey stock market

Perhaps the most-damning of all reasons XRP and Dogecoin can tumble in August, and possibly for many months thereafter, is the inextricable link between the crypto market and stock market.

When cryptocurrencies were initially conceived, they were prominently viewed as a separate asset class that, in some instances, would act as a hedge against inflation and an alternative to stocks. But as time has passed, digital assets have ebbed and flowed in lockstep with equities.

The good news here is that Wall Street's major stock indexes spend a disproportionate amount of time climbing, rather than falling. Based on data published by Bespoke Investment Group in June 2023, the average S&P 500 bear market since the start of the Great Depression in September 1929 has lasted only 286 calendar days. In comparison, the typical S&P 500 bull market endured for 1,011 calendar days, or approximately 3.5 times as long as the average bear market.

But there's an asterisk that should be placed next to the current S&P 500 bull market. Specifically, this is the third-priciest continuous bull market when back-tested 154 years, based on data from the Shiller price-to-earnings ratio. When valuations become extended to the upside as they are now, it's simply a matter of when, not if, stocks endure a sizable downturn.

If the stock market corrects lower, there's a very high probability XRP and Dogecoin will follow suit at an accelerated pace.

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Sean Williams has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Solana, Tesla, and XRP. The Motley Fool has a disclosure policy.