Ah, retirement.
It's what all of us aspire to. Sitting back on a banana lounge without a care in the world — no bus to catch, no meetings to attend.
Imagine that.
But even such a relaxed existence requires funds to sustain.
One excellent way to earn a decent post-work income is to invest your retirement savings into ASX dividend shares.
That way you could earn a yield at least as good as any term deposit, but also be in with a chance to grow the original capital.
Here are three shares not often named in retirement investment discussions that I think you should consider:
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Strong pipeline of work
NRW Holdings Limited (ASX: NWH) is a subcontractor for the infrastructure and mining industries.
The stock currently pays out a handsome 7% dividend yield.
Australia is blessed to have many resources to dig out, and buying into NRW Holdings is a useful way to leverage that without having to pick a particular mineral or miner.
The analysts at Celeste Funds Management noted earlier this year that the company has plenty of work to sink its teeth into.
"NRW's group pipeline is a strong $19.3 billion with orderbook up +$0.9 billion to $4.9 billion."
A bonus for NRW shareholders is that it's capable of significant capital growth, as well as handing out income.
Over the past five years, the share price has gained more than 59%.
Income and capital growth? Yes, please
Viva Energy Group Ltd (ASX: VEA) operates Shell and Liberty petrol stations around the nation and operates an oil refinery in Geelong.
The company is paying an amazing 8.35% dividend yield, which is fully franked.
Earlier this month the energy stock was selected as the best dividend investment by The Motley Fool's Bernd Struben.
"I like Viva Energy as both an ASX income share and one for potential capital appreciation."
Indeed, the share price has rocketed 115% since the March 2020 COVID-19 market panic.
Viva had its retail arm expanded through an acquisition of the Coles Express network of service stations from Coles Group Ltd (ASX: COL) late last year.
According to CMC Markets, seven out of 12 analysts currently rate the stock as a buy.
Ride the momentum
McMillan Shakespeare Ltd (ASX: MMS) provides employee benefits management services for its corporate clients.
So this includes administering novated leasing, disability plan management, salary packaging and asset management. The asset management arm involves car leasing and fleet management.
This stock hands out a mouthwatering 8.45% dividend yield that's fully franked.
What's more, McMillan Shakespeare is heading in the right direction, with the share price rocketing 33.7% over the past 12 months.
