3 Stocks to Supplement Your Social Security Income
Most retirees will need about 70% of their pre-retirement income to sustain their lifestyle, according to many financial advisors. Social Security, however, will only replace about 40% of that income. That means retirees have a substantial gap to bridge if they want to maintain their current standard of living.
One way to do that is by investing in high-yield dividend stocks. Three excellent options are energy infrastructure companies Kinder Morgan (NYSE: KMI), Williams Companies (NYSE: WMB), and TerraForm Power (NASDAQ: TERP). This trio pays above-average dividends that they should be able to grow at a healthy rate in the future.
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