If you're currently in the process of building a retirement portfolio, then you might want to take a look at the shares listed below.
I believe they are great options for investors looking for a combination of growth and income. They are as follows:
Coles Group Ltd (ASX: COL)
The first share I would consider for a retirement portfolio is Coles. I think the supermarket giant would be a great fit due to its defensive earnings, strong market position, and its refreshed strategy. This strategy is aiming to deliver $1 billion in cumulative savings by FY 2023 through efficiencies and the use of automation. Combined with expansions and its long track record of same store sales growth, I expect Coles to deliver solid earnings and dividend growth over the next decade.
Ramsay Health Care Limited (ASX: RHC)
I think Ramsay Health Care would be a good option for a retirement portfolio. While I expect its growth over the short term to be challenging, I believe its long term outlook is very positive. This is due to its world class network of private hospitals and their exposure to the growing demand for healthcare services. In addition to this, Ramsay has a penchant for making earnings accretive acquisitions and I wouldn't be surprised if it were lining up more at present. Overall, I believe it can deliver strong total returns for investors over the long term.
Rural Funds Group (ASX: RFF)
Another option to consider is this real estate investment trust (REIT). It has a focus on agricultural assets and owns a wide range of properties across several different industries. This includes cattle, wine, and almond production. Given the quality of its assets, its use of rental indexation, and its ultra-long tenancy agreements, I believe the company is well-positioned to deliver solid income growth over the next decade and beyond. This bodes well for its distributions, which management is aiming to grow by at least 4% per annum over the long term. This could make it a top option for a retirement portfolio.
