If You're About to Retire, Consider Buying These 3 Fantastic Stocks

If You’re About to Retire, Consider Buying These 3 Fantastic Stocks

Careful investing is the way to get the best of out your retirement savings. Fortis stock, Nutrien stock, and Brookfield Asset Management stock can help you with that.

Adam Othman

Adam is a value investor who is always on the hunt for fantastic undervalued companies that he can share with Motley Fool readers. He follows Warren Buffett and Charlie Munger's investment advice and has completed the Canadian Securities Course. When he's not investing, Adam can usually be found traveling or skiing.

Published November 15, 2019 10:23 am EST

Are you about to retire? I hope you are looking at a cozy retirement with suitable investments in the past. Even if you haven’t yet and you’re sitting on a nest egg and looking to invest, you may want to consider these solid stocks: Fortis (TSX: FTS)(NYSE: FTS), Nutrien (TSX: NTR)(NYSE: NTR) and Brookfield Asset Management (TSX:BAM.A)(NYSE: BAM).

A dividend aristocrat

If you’re looking for a dependable payout, there are few options better than investing in a dividend emperor like Fortis. The company has an astounding history of increasing dividends for 46 consecutive years.

This utility conglomerate is a regulated gas and electric utility leader in North America. With about 3.3 million customers in the gas and electricity utilities, the company has a solid revenue stream.

Currently, the company is trading at $54.16 per share at writing, a 43.5% growth in the past five years. So if you buy in Fortis, you won’t just enjoy a decent yield of 3.49%, you’ll also experience substantial growth in your initial investment. As of now, the company is trading at a monthly low, which may indicate a good time to buy this stable and durable stock.

Agricultural giant

Nutrien is the world’s largest crop input producer, chiefly potash, nitrogen, and phosphate products. The company’s current output yield is about 27 million tonnes. This $37 billion giant is going through a rough year, but still managed to increase its revenue by 6.5% from this time last year.

The dividend yield of Nutrien is a juicy 3.77%. At the time of writing, the company is trading at a yearly low of $64.83 per share. It’s a long way from the company’s former glory, but in the past five years, the company has started steadily climbing up. With an EPS of 5.07 and a profit margin of 15.8%, it does appear to be heading in the right direction.

Tried and tested asset management company

Brookfield Asset Management has a history of stellar growth. In all its years, there are very few dips in the company’s market value. With a market cap of $77.5 billion, Brookfield is one of the largest companies on the TSX. The company manages assets of about $500 billion in more than 30 countries.

The company is currently trading at $74 per share at writing. That’s a 36% growth from the same time last year, and 104% growth in the past five years.

If the company keeps its growth pace, you stand a good chance of doubling your investment in merely five years. Apart from that, that company is a dividend aristocrat, with six consecutive years of dividend growth. The current yield is a modest 1.16%.

Foolish takeaway

Whether you’re sitting on an RRSP, a TFSA, or a combination of both, careful investing can make your retirement years much easier.

A combination of solid stocks can help you generate a little passive income, as well as significant capital gains. You may want to keep an eye on solid stocks like Fortis, Nutrien, and Brookfield to help you prepare for your upcoming retirement.