Inflation is making life harder for everyone, including retirees who need to stretch out their savings to help cover additional costs. One way to help offset rising Inflation is to invest in dividend stocks. Three stocks that offer above-average yields and that have solid businesses are Pfizer (NYSE: PFE), Procter Gamble (NYSE: PG), and Southern Company (NYSE: SO). Here's why retirees should consider adding these stocks to their portfolios today.

Leading drugmaker Pfizer rose in popularity over the past few years due to its COVID-19 vaccine, but its business is bigger than just that one area. Through the first six months of this year, many of its products have generated more than $1 billion in revenue, including Eliquis ($3.6 billion), Prevnar ($3 billion), Ibrance ($2.4 billion), and Vyndaqel ($1.5 billion).

In August, the healthcare company obtained accelerated approval for its blood cancer therapy, Elrexfio, which may bring in up to $4 billion in revenue at its peak. In the long run, Pfizer's business could become even more diverse as the company has a pending $43 billion deal to acquire cancer specialist Seagen. 

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Source Fool.com