If you’re a retiree, you probably don’t want to be spending your time constantly checking up on stocks, worrying about whether your nest egg is safe. And that’s why you are better off avoiding the volatility in the markets and sticking to blue chip investments that offer safety and can provide a good source of recurring cash flow. They can help you pay your bills or fund that next vacation.
One stock that could meet those needs is Medtronic (NYSE: MDT). Although it has underperformed the S&P 500 over the past year, rising only 32% while the index has soared more than 55%, it’s still a terrific buy for retirees. Here’s why.