Americans are worried they don't have enough money for their retirement. Women who survive their husbands are especially hard hit, with 40% widows living almost exclusively on Social Security. There are a lot of worried retirees out there, and those worries can cause health problems. It's not the best way to spend our golden years. Here are some things we can do about it today for a healthy and prosperous retirement tomorrow...
Have a plan
Many people put money into different retirement vehicles, but they haven't taken the time to imagine how it will all come together and, ultimately, whether it will be enough. We often spend huge amounts of time planning every detail of our vacation, but we have no idea what our estimated income or expenses will be when we are no longer working. The pPlanning for retirement is not complicated in itself, but not planning ahead is a sure way to hit a wall.
Select blue-chip dividend growth stocks
To mitigate the risk associated with relying solely on capital appreciation, consider introducing an income component to the equation. Some high-quality, low-risk dividend stocks could help provide you with increasing income that allows you to rely less on selling stocks.
Here is a selection of 4 quality, low-risk stocks that have a long history of growing dividends:
Lowe's Companies, Inc (LOW) | Yield: 2.1% Lowe's, Inc. sells retail building materials and supplies, lumber, hardware and appliances through more than 1,700 stores in the United States and Canada.
Becton, Dickinson and Co. (BDX) | Yield: 2.4% Becton, Dickinson and Co. supplies a wide range of medical devices and diagnostic products used in hospitals, physicians' offices and research laboratories.
Coca-Cola Company (KO) | Yield: 2.8% Coca-Cola Company is the world's largest carbonated soft drink company with a sizeable fruit juice business.
Procter & Gamble (PG) | Yield: 3.3% The Procter & Gamble Company is a leading consumer products company operating in more than 180 countries.
Will you rely on the government to print your Social Security checks or will you choose to take charge of your future and prepare for it? Those who plan for retirement today will be more successful than those who don’t. It’s not hard when you start early. Quality and low risk dividend growing stocks are a great addition to your retirement portfolio. The good news is that you don’t have to wait until you’re old enough to see the income they generate.
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