Senior citizens don’t have decades to take a gamble on promising companies. And seniors need to choose stocks that have a history of being fruitful and will allow investors of all ages to be able to grow their money in a sensible retirement plan.
Three stocks that are recommended for your golden years are:
1. Visa (V)
Visa had the foresight to see a cash-less society that pays for everything from groceries to food and entertainment on credit cards. The company pays quarterly dividends of 0.75%. Visa provides stable prices over the long-term, and the company routinely repurchases shares, with $3.8 billion in repurchases through March 31, 2016.
2. Pfizer (PFE)
Pfizer is a value stock, as the company trades at just 14.2 times its expected earnings. The company had strong sales in Q1 due to its cancer drug sales, and full year sales outlooks have been revised up $2 billion.
The company forecasts an EPS of $2.38 on the year.
Dividends of 3.4% annually are given to investors, or $0.30 a share in the last two dividend payments. The company is expected to pay their next dividend on June 1, 2016. The company also purchased Hospira last year, which further cements its future outlook.
3. General Motors (GM)
General Motors has a $47 billion market cap and a P/E of 5.10, which makes it a great value for all investors. The company’s quarterly dividends are equally as impressive, as the company pays $0.38 a share per quarter, or a 5% yield.
The company’s stock is down following the announcement that it will spend $100 million in a compensation program for overstating fuel economy estimates for its vehicles.
GM has expanded its portfolio of products and services and has been testing self-driving technology, too. The company also offers car-sharing services that were expanded to several major cities last week.
