As a retired worker, it is important to get a steady stream of income on top of pension plans to mitigate any potential risk. Looking at stocks in stagnant industries with a high dividend/yield are important, and could potentially be stocks to hold onto for the rest of your life. One such stock is Alliance Resource Partners ($ARLP), which currently trades at $17.85 and has a dividend yield of 11.32%. ARLP is a large player in the coal producer and marketing industry, an energy field in which large growth, but also large losses are unlikely.
It is very important for those that are nearing the age of retirement to prepare themselves with protective stocks such as ARLP and other fixed income sources. While a younger, more risk-taking investor may look at Tech or Healthcare stocks, it is important for an older, risk-averse investor to acquire shares of companies that have solid financials and great dividend payouts.