If You're in Your 70s, Consider Buying These 2 High-Yield Stocks

If You're in Your 70s, Consider Buying These 2 High-Yield Stocks

If you're in your 70s, you've passed well into the retirement years. It's likely that a salary isn't the main source of your income anymore, with Social Security and your nest egg providing the cash you need to live. Instead of eating into that nest egg, though, you should be doing your best to live off the income it can generate. This is where dividend-paying stocks come in. But taking big risks with a finite nest egg is something you can't afford. That's why Duke Energy Corp (NYSE: DUK) and Realty Income Corp (NYSE: O) should be on your wish list.

One of the big concerns for investors in their 70s is running out of money. After all, there's still a decade or more of life to pay for. But there's a problem: With the vast majority of your life behind you, there's no way for you to make up for investing mistakes. Taking on too much risk for a high yield could lead to seeing dividend cuts, and, perhaps worse, capital losses. That's why safety is just as important as income. This is part of the reason for the rule of thumb about increasing your investments in bonds as you age.

Growing your income with low-risk dividend paying stocks is the way to go for most investors after retirement. Image source: Getty Images.

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Source: Fool.com