Nearing Retirement? These Stocks Will Pay You For Life

While government programs help retirees replace some of their income once they stop working, these initiatives aren't meant to fund all of people's expenses in their golden years. That's why many retirees seek additional income. One place to look is the stock market. Investing in reliable dividend stocks can be a great source of steady passive income, but only if the stocks in question have the tools to distribute growing payouts for a while.

Let's look at two companies that can do that: (NYSE: ABBV) and Gilead Sciences (NASDAQ: GILD).

AbbVie is well-known among dividend investors thanks to its solid business, strong prospects, and excellent dividend profile. Let's start with the company's business. AbbVie markets a range of drugs across several therapeutic areas, although its top field of expertise is arguably immunology. The company recently lost U.S. patent protection for its blockbuster therapy Humira. That's why AbbVie's sales have been declining and why it has performed poorly on the stock market since January.

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Source Fool.com