If You're in Your 60s, Consider Buying These 2 Stocks
If you're in your 60s, you've spent most of your adult life focused on building your nest egg. Now, however, things are changing and you're going to need to shift to using your portfolio to supplement your Social Security checks. That means starting to look at income investments like Magellan Midstream Partners, L.P. (NYSE: MMP) and Brookfield Property Partners LP (NASDAQ: BPY), both of which have yields of more than 5%. But there's more to these partnerships than yield because they'll also help you deal with the ravages of inflation. Here's what you need to know to understand why you should be considering buying these two high-yield names.
Inflation isn't normally too big a deal to people in the workforce because wages tend to rise over time. That generally offsets rising costs for everything from food to shelter. Those rising costs are essentially inflation. If you want an example, take a look at something as mundane as bread. A pound of bread cost just about $0.50 in 1980, but by 2017 was up over $1.30. That's inflation, and it has historically risen at around 3% a year. Three percent doesn't sound like much, but the bread example shows that it starts to add up over time.
Income isn't the only building block to focus on when you hit your 60s -- look for dividend growth, too. Image source: Getty Images.
Source: Fool.com
