Let’s be honest, retirement is about enjoying life.

Taking advantage of all those years of hard work.

Eating the fruit of your labour, so to speak.

It’s a Tuesday morning coffee at Gloria Jeans, owned by Retail Food Group Limited (ASX: RFG), or planning a European holiday through Flight Centre Travel Group Ltd (ASX: FLT).  

Securing an income stream

By the time retirement nears, many Australians will have their investment dollars tied up in fixed income investments (e.g. term deposits) and perhaps a property. Then, hopefully, there’s some superannuation laying in wait. That’s the ideal.

However, while securing a stable retirement stream is the highest priority, many retirees will live well past 70 or 80 years of age and require a nest egg to fund their lifestyle for many years.

So if you’re nearing retirement, it’s imperative to not only focus on income but also on growing your nest egg.

3 growth shares to boost your retirement

  1. Retail Food Group

Retail Food Group is the name behind Gloria Jean’s, Brumby’s Bakery, Machel’s Patisserie, The Coffee Guy, Pizza Capers, Crust Pizza and more. Retail Food Group is also making inroads in international markets, particularly by growing its presence in coffee (Australia does have the best coffee after all).

What’s more, shares in Retail Food Group trade at a discount to the market and are expected to pay a dividend equivalent to 5.2% fully franked.

  1. Flight Centre Travel Group

Flight Centre Travel Group is a name familiar to many retirees because its network of travel agent shop fronts has expanded throughout Australia and have a reputation for quality service. Flight Centre shares have proven to be a spectacular investment over many years, and while that doesn’t guarantee it’ll produce the same result in coming years it appears to be made of the right stuff.

Flight Centre is well established in large international markets, is pursuing growth in the corporate sector and has a strong balance sheet to pursue acquisitions. The company offers a 3.7% dividend yield fully franked.

  1. ResMed Inc. (CHESS) (ASX: RMD)

ResMed is listed on both the ASX and New York Stock Exchange. It’s a global biotechnology business specialising in developing devices for treating and monitoring respiratory conditions like sleep apnea. ResMed is an established business, with a market capitalisation nearly three times the size of Flight Centre, but its market is equally large.

Though ResMed continues to grow slowly quarter over quarter, its modest short-term growth could compound into superior long-term gains for shareholders. It’s expected to pay a 2% dividend unfranked.

Foolish takeaway

In retirement, most of your wealth should be held in reliable investments – not growth stocks. However, your overall portfolio should also include some key growth assets, such as shares of growing medium-sized or large companies.

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Motley Fool Contributor Owen Raszkiewicz does not have a financial interest in any company mentioned. Owen welcomes -- and encourages -- your feedback on Google+, LinkedIn or you can follow him on Twitter @ASXinvest.

The Motley Fool Australia owns shares of Retail Food Group Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.