Despite all the attention cryptocurrencies are receiving lately, the stock market is still the most proven, wealth-building tool available to investors. Whether you prefer value stocks selling for less than their estimated worth or growth stocks of rapidly expanding businesses, there are multiple ways to be a successful investor. 

Looking at the latter for the moment, here are three great growth stocks to consider owning for the next 10 years and beyond. 

A person swiping a credit card on tablet payment service.

Image source: Getty Images.

1. Block 

Formerly known as Square, Block (SQ 0.75%) is a leading fintech company innovating in the payments space. The business caters to individual customers with its popular Cash App, which counted 40 million monthly active customers in the third quarter. And through its seller ecosystem, Block offers an affordable and easy-to-use suite of hardware, software, and financial services products to help merchants manage their businesses. 

The stock has lost nearly half of its value over the past five months thanks in part to a potential rate hike by the Federal Reserve -- a concern that has pressured many high-growth stocks. In addition, the omicron variant has impacted the company's small merchant customers.

But Block's latest results are heartening. Gross profit grew 43% in Q3 compared to the prior-year period. And the Cash App is seeing higher deposits and engagement; larger merchants (those with greater than $500,000 in annualized gross payment volume) are making up a bigger percentage of Block's sellers. Since a huge chunk of the company's revenue comes from transaction and subscription fees, getting its customer base to use its products and services more is vital. 

Block's total addressable market was already estimated to be $60 billion for Cash App and $100 billion for the seller business. But with its recent $29 billion acquisition of "buy now, pay later" leader Afterpay, this should open up even more opportunities ahead to generate value. That includes a new focus on Bitcoin and blockchain technology. Loading up on shares now could be a very lucrative financial decision. 

2. The Joint

With its 706 locations nationwide, The Joint (JYNT 0.18%) is changing the way people treat their back pain. The franchisor and operator of chiropractic clinics offers a low-cost, convenient, and effective solution. Insurance and appointments aren't needed, and patients can be in and out within five minutes.

Compared to a traditional chiropractic office, The Joint simply provides a basic spinal adjustment. This is an entry-level service for patients who want fast pain relief. Costs are kept so low because there's no need for expensive equipment, and a non-insurance payment model means less administrative staff. In fact, most locations' day-to-day operations can be run by just two people, the licensed chiropractor and an office manager. 

Similar to Block, The Joint has seen its stock trend down of late, at least in part due to the prospect of a Fed rate hike, which could hurt fast-growing companies. Also, investors may be concerned that the spread of the omicron variant will cause patients to delay treatment. But recent numbers are encouraging. Same-store sales jumped 29% year over year in 2021, and the business treated 807,000 new patients in the 12-month period. 

Looking ahead, The Joint's leadership thinks the company can have 1,000 locations open by year-end 2023 and 1,800 locations in the entire U.S. over the very long term. If management continues executing the way it has in recent years, expect revenue to continue growing at a fast clip with profit surging as the business reaches scale. The stock was up big in 2021, and a recent pullback means increased upside for investors going forward. 

3. Lululemon 

Lululemon Athletica (LULU -0.95%) has become one of the best-known brands in the athletic apparel industry -- and its popularity only continues to grow. Sales and earnings per share (EPS) in the fiscal 2021 third quarter soared 30% and 31%, respectively, compared to Q3 2020. The growth is outstanding, especially for a clothing business. But what makes Lululemon truly special is its remarkable 57.2% gross margin. It's a big reason why I like the stock better than rival Nike.

Some investors have nevertheless grown a bit cautious in recent months. The shares have fallen nearly 30% -- and perhaps with reason. On Jan. 10, management warned that the current fiscal quarter's revenue and EPS would come in at the low end of guidance, or close to $2.1 billion and $3.25, respectively. The culprit, unsurprisingly, is the wild spread of the omicron coronavirus variant. Lululemon is blaming labor shortages and reduced store hours. This is certainly having an adverse impact on all retailers. 

However, the reality is that Lululemon's issues are being felt by most other businesses today, so it really doesn't worry me too much. Management is still expecting fiscal 2021 sales to jump approximately 42% year over year, which is fantastic in a normal environment -- and even more impressive given the current economic situation. Thanks to its growing brand strength and premium pricing, I expect Lululemon to be a winning stock for a long time.