Reaching retirement age presents both advantages and challenges, particularly regarding reliance on government support like Social Security, which may be insufficient. The full retirement age is 66 for individuals born from 1943 to 1954, gradually increasing to 67 for those born in 1960 or later. With expected modest cost-of-living adjustments, higher passive income is necessary. Dividend Champions, companies that have raised dividends for 25 years or more, offer reliable options for income generation. Five high-yield stocks have been identified as strong investments for those looking to enhance their portfolios.
Investing in companies that consistently raise dividends is especially beneficial for Boomers facing modest Social Security increases, enhancing the need for additional passive income.
The Dividend Champions include 137 companies that have raised dividends for 25 years or more, providing investors a range of options and security.
With expected interest rate cuts, dividend stocks are anticipated to trade higher, increasing their attractiveness as a steady income source.
Those nearing retirement should consider screening for high-yielding stocks rated by major Wall Street firms to bolster their investment portfolios.
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