When people hit retirement age, their investment goals often shift from accumulating assets to living off of the savings they've amassed. Dividend stocks are a great way to do that, but how do you pick the right stocks? An easy answer is not to pick stocks, but to use exchange-traded funds (ETFs) instead.

Here are three dividend-focused ETFs retirees should put at the top of their lists.

When it comes to dividend ETFs, Schwab U.S. Dividend Equity ETF (NYSEMKT: SCHD) is probably one of the best choices out there -- but not because it has the highest yield. Its real strength is in mixing yield and quality while still managing to offer an attractive trailing yield of 3.65%. Here's how the fund does it.

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Source Fool.com