HH Great Income Producers For Retirement

Income in retirement--especially of the sure-thing variety--can be tough to come by these days. Lower interest rates have meant that you need to have saved a lot to generate a decent fixed-income stream.

Dividend-paying stocks are one way to put a dent in this problem. There are plenty of options out there--stocks that have been paying consistent and even growing dividends for years, sometimes decades. We have covered some long-time dividend boosters before. We have a few new ideas this time around:

Name

Ticker

Yield

5-Year Dividend Growth Rate

Compass Minerals

CMP

4.1%

9.1%

Dominion Energy

D

3.7%

7.3%

General Electric

GE

3.7%

9%

Iron Mountain

IRM

5.8%

18%

Pfizer

PFE

3.8%

8.4%

VF Corp

VFC

2.6%

18.6%

Data as of 8/3/17

In this list, GE, Pfizer, and Iron Mountain have been increasing their dividends for a relatively short period of time (five to seven years); at the other end of the spectrum, VF Corp has increased its dividend for 44 straight years.

If you diversify across a number of stocks and industries, the risk that one or two stocks will blow up your retirement income plans (by cutting or eliminating their dividends) is minimized. In the above list, we’ve got pharmaceuticals, utilities, apparel manufacturing, record storage, minerals, and an industrial conglomerate. That’s pretty decent diversification.

Even so, this is the stock market we’re talking about. Nothing can be taken for granted. You want a way to stress test some of your assumptions, keep track of your progress, and make adjustments as necessary.

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What would increasing your savings rate or investing in different asset classes do to your retirement plan? Could you handle a stretch of stock-market volatility? WealthTrace can help you find out. ...

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