3 Horrible Dividend Stocks for Retirees

Retirees should generally stick with conservative dividend stocks since they generate reliable income and usually bounce back from market downturns. However, some dividend stocks that have high yields are horrible choices for retirees. Let's examine three income stocks retirees should avoid -- Vector Group (NYSE: VGR), Macy's (NYSE: M), and Nokia (NYSE: NOK).

Vector Group is a hybrid tobacco and real estate company. Its tobacco business sells Liggett cigarette brands including Pyramid and Eve, while its real estate portfolio includes Douglas Elliman, one of the biggest real estate companies in America, and a wide range of hotels, residential buildings, and other commercial properties.

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Source: Fool.com