2 Stocks to Supplement Your Social Security Income
If you're collecting Social Security, then you've gotten to the stage in life where capital growth has been superseded by a desire for capital preservation and income. The goal is to supplement your Social Security income so you have more spending money while you enjoy retirement -- and high-yielding Magellan Midstream Partners, L.P. (NYSE: MMP) and Duke Energy Corp (NYSE: DUK) are two options you should be considering. Here's why.
Magellan is a large midstream partnership with a roughly 5.3% yield. It owns vital and hard to replace infrastructure, like pipelines, that help transport and process oil and natural gas. The vast majority of its business is fee based, representing around 85% of its operating margin. That makes its business very stable over time, since demand for energy is more important than the price. That last part helps explain its impressive streak of 17 consecutive years' worth of distribution hikes.
If you're planning for retirement, look for a mix of safety and income. Image source: Getty Images
Source: Fool.com
Duke Energy Corp. Stock
With 15 Buy predictions and only 1 Sell predictions the community sentiment for the stock is positive.
On the other hand, the target price of 95 € is below the current price of 95.35 € for Duke Energy Corp., so the potential is actually -0.37%.
