Planning for retirement can be very scary and complicated for people, but it isn’t that hard once you have the basics covered. The biggest thing you need to account for is the inflation-adjusted returns and whether you will have enough money by the time you wish to retire. It’s a daunting task, but not an impossible one.

The stock market returns 7-8% annually on average, and you’re definitely going to need more than that to retire before 50 if you’re an average person. So, we’re essentially talking about stocks that can beat the market in the long run. No one has a crystal ball that can point out such stocks, but we have very good contenders in the market with promising futures. These are the potential higher-risk stocks that could turbocharge your portfolio and help you achieve your retirement goals ahead of schedule.

By investing in these promising companies, I would say you could squeeze out very high returns in the coming decades if they keep executing. Here are the seven stocks for early retirement to look into:

Invesco QQQ (QQQ)

If you want “market-beating” returns heading into the future, your best bet might be the Invesco QQQ (NASDAQ:QQQ). Yes, it is certainly more risky than a broader group of stocks, but tech stocks have been driving the bulk of the gains and form the core of most hedge funds nowadays.

This ETF is not a “stock,” but it tracks the performance of the Nasdaq-100. Big Tech accounts for 45% of QQQ. Many see that as a bearish factor, but I would disagree. Big Tech has locked in AI, quantum computing, cloud, and many other narratives that we don’t even know about. These companies are scooping up promising startups and have very sticky revenues as most people spend a huge chunk of their time online.

And of course, the best thing is that it uses a modified capitalization-weighted index, so your holdings will evolve with the trends.

Axon Enterprise (AXON)

You’ll always have crime. Crime rates have been trending down so far, but the decline hasn’t been that pronounced in the past decade. Axon Enterprise (NASDAQ:AXON) provides police with “non-lethal” gear like bodycams, dashcams, dispatch software, and most importantly, the Taser. It is one of the best stocks for early retirement, at least in my opinion.

The stock has been delivering very healthy returns over the long run as the business has very sticky revenue sources.

Moreover, it recently acquired air defense startup Dedrone. This also makes it a great defense play since drones are heavily used in warfare now, and countering them is essential.

Moreover, their AI-assisted “Draft One” solution claims to cut a sizable 40% of officers’ time normally spent writing reports. With revenue growing 34.3% year-over-year to $461 million and earnings per share of $1.15 exceeding forecasts by 20 cents, it’s hard to not be bullish. Future estimates are also very bullish.

Cadence Design Systems (CDNS)

Cadence Design Systems (NASDAQ:CDNS) started the year on a mixed note. It missed revenue estimates by a hair. However, I’m confident the record $6 billion order backlog will lead to a solid year ahead, fueled by AI.

Cadence’s revenue of $1 billion came very close to estimates, and strong execution allowed earnings per share to exceed expectations at $1.17, which beat estimates by 4 cents. The company’s strategy of Intelligent System Design is also paying dividends. It is helping increase productivity for major clients like Intel (NASDAQ:INTC) and Qualcomm (NASDAQ:QCOM) through AI solutions that can design new systems by itself.

Moreover, Cadence seems to be firing on all cylinders with the recent launch of its third-generation emulation and prototyping platforms receiving endorsements from Nvidia (NASDAQ:NVDA) and AMD (NASDAQ:AMD).

The stock is up a solid 314% in the past five years and has been very stable and consistent as it climbs. Now, where it goes from here in 20 years depends a lot on AI, but I remain optimistic.

Trane Technologies (TT)

Trane Technologies (NYSE:TT) is a newer company. It focuses on air conditioners and similar products. If we continue seeing summers like the one in 2023, AC companies are going to be among the best investments going forward. They already have delivered tremendous returns.

Plus, it’s hard to not be bullish after looking at its chart, as TT stock has outperformed the broader market by stellar figures. It is up 249% in the past five years and the “exponential” trend makes me optimistic. It also has a 1% dividend yield to sweeten the deal. I expect the uptrend to continue in the long run as its top and bottom lines keep expanding.

The company’s stronger-than-expected top-line performance was propelled by its commercial heating, ventilation, and air conditioning business, which witnessed bookings increase by over 30%. With the order backlog increasing 10% sequentially to $7.7 billion, including $1.8 billion for orders to be fulfilled in 2025 and beyond, I have a very good conviction here.

Management also raised their projections for the full year. I wouldn’t be amazed to see estimates continue climbing higher if this momentum sustains.

Xiaomi (XIACF)

Xiaomi (OTCMKTS:XIACF) is one of the top tech companies that very few people talk about. It is an under-the-radar pick among these seven stocks for early retirement. You may know Xiaomi phones, but this company sells a lot more. It is a diversified electronics company that has a hold on many emerging markets, especially in Asia. The company’s products are affordable for people in these regions, and the brand has a good reputation.

The stock declined along with the broader Chinese market but is making a sharp comeback as the Chinese market recovers. It is up 28% year-to-date. Nearly half its sales are also from outside of China.

Its latest quarterly results paint a very positive picture. Revenue increased 11% YOY to RMB 73.2 billion, fueled by an impressive 28% market share in China’s premium RMB 4,000-6,000 segment. Their strategic focus on high-end products is clearly paying off, with the Xiaomi 14 Series breaking multiple sales records and the 14 Pro model attracting many new customers above the 5K price point.

I expect stellar 20-year returns from here if the trends continue.

MakeMyTrip (MMYT)

MakeMyTrip (NASDAQ:MMYT) is an Indian online travel company. India is still much behind China, but its economy has been growing fast. A huge wave of people are getting out of poverty each year and are taking vacations.

As India’s domestic aviation industry prepares to nearly double passenger capacity over the next eight years, MakeMyTrip seems ideally positioned to capture an even greater share of the expanding market.

Looking ahead, forecasts indicate India’s outbound travel market will be among the fastest-growing components globally. With international bookings already surpassing pre-pandemic highs, it wouldn’t be surprising to see MakeMyTrip’s overseas segment play a major role. This industry leader appears to be excellently capitalizing on very strong tailwinds over the next two decades. Analysts expect EPS to almost triple from 62 cents to $1.78 and revenue to surge from $794 million to $1.2 billion over the next two years. Analyst ratings are bullish too.

Deckers Outdoors (DECK)

Deckers Brands (NYSE:DECK) is a footwear company. It has delivered very stellar returns of 497% over the past five years. The moat here is surprisingly solid, though I expect the stock to grow at a more moderate pace in the coming years.

Revenue reached $1.56 billion in Q4, up an impressive 16% from the same period last year. What really stood out was the exponential growth in their direct-to-consumer sales, which rose 23% to an all-time high of 55% of the total business.

What makes me very bullish is that it beat EPS expectations by 31% and revenue expectations by 7.3% in Q4. If such beats continue, I expect the stock’s momentum to continue running hot. Definitely one of the best stocks for early retirement.

On the date of publication, Omor Ibne Ehsan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.