Most retirees depend on Social Security to cover a significant portion of their bills and expenses, and for about a quarter of them, the program provides 90% or more of their income.
But your benefit check alone won’t be enough to cover what you would think of as a comfortable retirement. The average 65-year-old receives just over $1,300 per month from Social Security. When you add up the costs of your basic needs, travel, dining out occasionally, and the higher healthcare expenses that come with age, odds are, you’re going to need sources of income to supplement that. This is why you should be investing — whether through a tax-advantaged retirement account like a 401(k), Traditional IRA, or Roth IRA, or via a standard brokerage account.
If you’re intending to have the sort of retirement lifestyle that you can’t enjoy on government benefits alone, one smart strategy is to identify and hold investments that will deliver a combination of income, growth, and stability. These three stocks tick all of those boxes.