When planning for a secure retirement, individuals typically seek investments that minimize risk and provide a steady income stream. Retirement accounts often gravitate towards sturdy stocks that have proven themselves resilient in the face of economic turbulence. These stocks usually belong to established companies that have carved out a competitive place within their respective industries, assuring that your retirement strategy stays on track.
It is essential to consider that while such investment options may not yield instantaneous wealth, they offer dependable returns and protect your retirement savings from unpredictable market fluctuations.
Let’s delve into three safe stocks, identified as top choices for retirement investment in the year 2024.
Walmart (NYSE:WMT), established as a discount retailer in 1962, is now celebrated as the largest retailer across the globe in terms of revenue. Notably, Walmart also holds the title for the most dominant grocery retail chain worldwide. Through an impressive combination of scale and pricing power, it continues to flourish in both prosperous and challenging economic climates.
“Walmart is a business that allows retirees to sleep peacefully at night owning in both good and bad times.” This is largely due to their unwavering commitment to affordability, which has allowed them to remain competitive amid rising costs. Moreover, with an eye on the future, Walmart has actively expanded its e-commerce presence, which was evident in their Q4 FY24 financial results, reporting e-commerce sales up 23% year-over-year, surpassing the impressive mark of $100 billion. Considering these factors and Walmart’s 60+ years of consistent growth, WMT stock proves to be a solid addition to your retirement portfolio.
Another reliable stock for retirement investment is Procter & Gamble (NYSE:PG), the multinational corporation behind a vast array of everyday household items. Known as a “safe haven stock”, PG offers a recession-proof business model and a sizeable economic moat. The company’s worldwide presence allows for geographical diversification, thereby lessening the risks related to economic instability in a particular region.
Furthermore, Procter & Gamble’s robust supply chain and established distribution networks further strengthen its steadfastness. The retirement-friendly stock has maintained a steady cash flow over the past decade and continues to grow its dividend per share. Recently, PG increased its quarterly dividend to $1.0065 per share, marking the 68th consecutive year of dividend growth, which underscores its position as a top safe retirement stock to buy in 2024.
Last but not least, Coca-Cola (NYSE:KO) stands as a symbol of persistent stability, making it a compelling choice for building a retirement portfolio in 2024. With a history spanning over a century, Coca-Cola has remained resilient amidst economic downturns, geopolitical uncertainties, and shifting consumer preferences. The company’s diversified product range, extensive global presence, and strong brand recognition lay the groundwork for sustained long-term growth.
“Coca-Cola boasts a history of steady dividends and shareholder returns, making it appealing for retirement investors seeking a stable income stream.” Its disciplined capital allocation and robust cash flow generation further cement its place as a safe retirement stock. As Coca-Cola continues to witness substantial growth in emerging markets, it offers a promising long-term growth outlook for retirement investors.
The writer, Terel Miles, does not hold (either directly or indirectly) any positions in the securities mentioned in this article at the time of publication. The views expressed in this article are those of the writer.
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