With the youngest baby boomers (Americans born between 1946 and 1964) approaching retirement age, it is becoming increasingly important to focus on magnificent dividend stocks that will supply significant passive income either in or out of designated retirement accounts like IRAs.
We screened our 24/7 Wall St. high-yield dividend stock database, looking for companies that pay a 10% or higher dividend that can be deemed safe for seniors. We considered the length of the dividends paid, the company’s length of business, and a host of other items that quantified the risk-reward for baby boomers.
While only suited for some, those trying to build strong passive income streams can do extremely well having some of these top companies in their portfolios.
This post originally appeared at 24/7 Wall St.