If You're Retired, Consider Buying These 3 Stocks
If you're a retiree, you need to be careful about which stocks are in your investment portfolio. Income is important, so you should prioritize dividend stocks. You also want to make sure that these are stable companies that won't fall off the map too quickly and drag your savings down with them. Luckily, there are a handful of great stocks that fit these criteria and can provide some modest growth as well.
Consider these three established dividend stocks with wide economic moats for your retirement portfolio.
Automatic Data Processing (NASDAQ: ADP) provides human capital management services, such as payroll, benefits administration, HR, and productivity tracking.
ADP doesn't do anything too revolutionary these days, but it's a stable company with more than 860,000 customers spread across 140 countries. It fulfills some core administrative functions that are common to almost all businesses, and it's the leader of the space. Competition will always be a concern, especially as fintech and work culture evolve, but ADP still retains a wide economic moat due to switching costs, breadth of services, and brand strength. In short, you shouldn't expect much more growth than the 5.6% delivered annually over the past three years, but it's also unlikely that ADP will go away anytime soon.
Source Fool.com
