Sporting a solid mix of growth and future income potential, these three stocks could be ripe for the picking for baby boomers.
Investing for your future is important regardless of your age, but you could certainly argue that investing is especially important for baby boomers, quite a few of whom find themselves behind the eight ball when it comes to saving for retirement.
Even though baby boomers have lost valuable time with which to compound and grow their nest eggs, most people in their 50s still have two, three, or four more decades of life ahead of them. This means they need to continue investing to stretch that nest egg for as long as possible.
I know some boomers are still very leery of the stock market, especially with the broad-based S&P 500 nosediving 50% on two separate occasions over the past 15 years. However, even after 35 stock market corrections of at least 10% over the past 66 years, the S&P 500 continues to head higher. Sometimes it takes, weeks, months, or years, but the broad market indexes always shake off retracements to hit new highs -- and that's great news for the long-term investor.
Three perfect stocks for baby boomers
So what does the perfect stock for a baby boomer in their 50s look like? Ideally, it's a company that's paying a dividend, which could grow into a larger dividend over time. But it's also a company that offers better growth prospects than what someone in their 60s or 70s might be looking to buy. Here are three examples of perfect stocks baby boomers should consider buying…
Source: The Motley Fool