Many investors are drawn to Warren Buffett's investing style. Buying shares of exceptional companies at fair prices can lead to spectacular results over the long term. There's no better place to find "forever" worthy investments than Berkshire Hathaway (BRK.A 1.98%) (BRK.B 1.86%) itself.

Here are two Buffett-approved stocks that can help you grow your savings for a happy retirement.

1. Coca-Cola

While Buffett reduced stakes in a few of Berkshire's largest holdings last year, he left Berkshire's 400 million shares of Coca-Cola (KO 1.15%) untouched. The stock hasn't outperformed the S&P 500 in recent years, but this outstanding business continues to generate profits that fund an attractive dividend yield. It's a top brand in a growing beverage industry.

A key reason to hold Coca-Cola stock over the long term is that strong consumer brands can raise prices to offset inflationary costs in the supply chain. The company's financial results last year demonstrated this. In the third quarter, unit case volumes were down 1%, reflecting a budget-strained consumer, but adjusted revenues still grew 9% over the year-ago quarter, partly driven by price adjustments.

Long term, the beverage industry has great prospects. A growing middle class in China and India should continue to drive sales opportunities for Coca-Cola's large portfolio of brands that include a range of teas, juices, and sparkling sodas. Statista forecasts the industry to grow 8% per year through 2029 to reach $380 billion annually.

Management believes it can grow adjusted revenue by close to 6% annually over the long term. With the use of artificial intelligence (AI) in managing costs and pricing, investors should expect Coca-Cola to see gradually improving margins. This could lead to marginally higher earnings growth between 8% to 10% per year.

The combination of a 3% forward dividend yield and high-single-digit earnings growth should translate to annualized returns of around 10% over the next decade.

2. Berkshire Hathaway

One of the best stocks to buy and hold forever is none other than Buffett's largest personal holding, Berkshire Hathaway. Buffett took control of the once-struggling textile mill in the 1960s and reallocated the cash flows to better businesses. The result is a large collection of outstanding companies that generate $452 billion in trailing revenue.

Berkshire's operations span insurance, railroad, energy, retail, and more. These businesses generated pre-tax earnings of $38 billion through the first nine months of 2024, up from $33 billion the year before. Importantly, each of the dozens of businesses under Berkshire's ownership possesses a durable competitive advantage that ensures their future success.

While Buffett is still CEO, he won't be around forever, but shareholders are in good hands. Greg Abel, who oversees Berkshire's non-insurance operations, will take over as CEO when Buffett is gone. Abel understands the culture of Berkshire and will continue to manage capital in a way that grows the value of the business for many years.

Buffett has truly built a great company to last. It's sitting on $320 billion of cash and short-term securities, with another $271 billion in stocks as of the third quarter, including large stakes in Apple, Bank of America, and American Express. Its operating businesses, including GEICO and BNSF railroad, are also run by skilled business people, which also factored into Buffett's decision to buy each one of them.

All said, Coca-Cola and Berkshire Hathaway will almost certainly be around for decades to come, growing in value for shareholders.