Canadians: 3 Easy Stocks to in Invest for Retirement

The market is full of opportunities for long-term investors from different sectors of the market. Here are three easy stocks to invest in for retirement that are impossible to ignore.

Easy stocks to invest in come in all shapes and sizes

One of the first stocks to consider is one of the most established and recognizable brands in Canada. Toronto-Dominion Bank (TSX:TD)(NYSE:TD) is the second-largest lender in Canada, and one of the largest banks in the U.S.

TD’s move to the U.S. market over the past decade has fueled its incredible growth story. In fact, TD’s U.S. network, which spans from Maine to Florida, now outnumbers its domestic branch network in Canada- and it still continues to grow.

TD is in the process of completing a deal for another U.S. bank – Memphis-based First Horizon. Upon completion of that deal, TD will ascend to become one of the six largest banks in the U.S, and expand its operations further into the Southeast U.S.

Turning to income, TD has provided investors with a juicy quarterly dividend for well over a century. Today that dividend earns a generous yield of 4.21%. Prospective investors should also note that TD has an established history of providing generous bumps to that dividend.

Looking for a defensive stock with a juicy income?

BCE (TSX:BCE)(NYSE:BCE) is another option that comes to mind as one of the easy stocks to invest in. BCE is one of the largest telecoms in Canada, with an enviable infrastructure that provides nationwide coverage.

More importantly, that infrastructure serves as an intriguing defensive moat for the company. Better still, BCE’s core subscription services aren’t the only revenue streams that contribute to the bottom line. BCE also boasts a massive media segment that comprises dozens of TV and radio stations.

In terms of an income investment, BCE pays out one of the best dividends on the market. The current yield works out to a very impressive 5.85%. This puts BCE on the higher end of the scale, and not just among its telecom peers.

In first-year income, a $40,000 investment in BCE will earn you $2,340. Long-term investors should note that reinvesting that income until needed will lead to much higher income over the course of a decade or more.

Power up your portfolio with this energy behemoth

A third stock that serves as one of the easy stocks to invest to build your future portfolio is Enbridge (TSX:ENB)(NYSE:ENB). Enbridge is one of the largest energy infrastructure players on the planet. Part of that size comes thanks to its massive pipeline network.

In terms of importance, that pipeline network hauls one-third of all the crude produced in North America, and one-fifth of the natural gas consumed by the U.S. In other words, the defensive appeal of that pipeline network is irresistible, yet that’s not even the best part.

The amount that Enbridge charges for use of that network isn’t based on today’s volatile but the fixed contracted prices of those commodities. This further elevates the defensive appeal of Enbridge to a whole new level.

But there’s still more.

Enbridge is also investing heavily in renewables. Not only will this diversify the company off oil but provide a lucrative long-term revenue stream. In the past two decades, Enbridge has invested over $8 billion into its renewable energy business.

That network currently comprises solar, wind, and hydro facilities that are located around the world. Collectively, they boast a net generating capacity of over 2,100 MW.

Finally, let’s talk about dividends. Enbridge offers a quarterly dividend to investors, which carries an insane yield of 6.37%. Additionally, it’s worth noting that Enbridge has provided annual upticks to that dividend spanning back well over two decades.

In short, Enbridge is the complete package, and like BCE and TD, should form part of every well-diversified portfolio.

The post Canadians: 3 Easy Stocks to in Invest for Retirement appeared first on The Motley Fool Canada.

Should You Invest $1,000 In BCE?

Before you consider BCE, you’ll want to hear this.

Our market-beating analyst team just revealed what they believe are the 5 best stocks for investors to buy in August 2022 … and BCE wasn’t on the list.

The online investing service they’ve run for nearly a decade, Motley Fool Stock Advisor Canada, is beating the TSX by 27 percentage points. And right now, they think there are 5 stocks that are better buys.

See the 5 Stocks
* Returns as of 8/8/22

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Fool contributor Demetris Afxentiou has positions in Enbridge and The Toronto-Dominion Bank. The Motley Fool recommends Enbridge.