If you’re approaching retirement and currently constructing an investment portfolio for this next stage in your life, then I think the ASX 200 shares listed below would be worth considering as candidates.
I believe these ASX shares have positive outlooks and are well-positioned to grow their earnings and dividends over the long term. Here’s why I like them:
Coles Group Ltd (ASX: COL)
The first share to consider buying for a retirement portfolio is Coles. I think it would be a great core holding because of its strong business model, attractive yield, positive long term outlook, and defensive qualities. In respect to the latter, this year Coles has proven that it can perform no matter what the economy throws at it.
Despite the pandemic and the bush fires, it reported a 6.9% increase in sales to $37.4 billion and a 7.1% lift in net profit after tax to $951 million in FY 2020. The good news is that I’m confident there will be more of the same over the rest of the 2020s. All in all, this could make the Coles share price a long term market beater.
Goodman Group (ASX: GMG)
Another of my favourites for a retirement portfolio is Goodman Group. It is a global industrial property company that owns, develops, and manages modern industrial real estate including logistics facilities, warehouses, and business parks in strategic locations throughout 17 countries.
I’m a big fan of the company due to its gateway city strategy. This strategy means Goodman focuses on investing in and developing high quality industrial properties in strategic locations. These are close to large urban populations and in and around major gateway cities globally. This is where demand is strong and transformational changes are driving significant opportunities for its business. Given this strategy and its outstanding property portfolio, I believe Goodman is well-placed to deliver solid earnings and distribution growth over the next decade and beyond.