If you're in or nearing retirement, it may be time to start focusing a little on capital preservation and income rather than growth.
But which ASX shares could be top options for a retirement portfolio?
Listed below are two that could be good additions to a well-balanced retirement portfolio. Here's what you need to know about them:
Centuria Industrial REIT (ASX: CIP)
Centuria Industrial could be a good option for a retirement portfolio.
This ASX property share owns a portfolio of high-quality industrial assets which is heavily weighted to areas of the economy that are growing fast and are in demand from tenants.
This includes properties linked to the production, packaging, and distribution of consumer staples, telecommunications and pharmaceuticals.
Macquarie is positive on the company and recently upgraded its shares to an outperform rating with a $3.32 price target.
As for income, its analysts are forecasting dividends of ~16 cents per share in FY 2023 and FY 2024. This implies yields of ~5.1% in both years.
Woolworths Limited (ASX: WOW)
Another ASX share that could be a good option for a retirement portfolio is Woolworths.
It is the retail conglomerate behind the Woolworths supermarket chain, Countdown supermarkets in New Zealand, and Big W.
Woolworths has a lot of qualities that arguably make it a good option for retirees. These are its defensive characteristics, positive exposure to inflation, and leadership position in the supermarkets industry.
Goldman Sachs is a big fan of the company. So much so, it has Woolworths on its coveted conviction list. The broker likes it due to its digital and omnichannel advantage, which it expects to drive further market share and margin gains.
Its analysts currently have a buy rating and a $42.20 price target on the company's shares. Its analysts are also forecasting fully franked dividend yields of ~3% in the coming years.
