4 Tech Stocks to Pick While Tailoring Your Retirement Portfolio
Retirement brings in a number of challenges, including the replacement of income that seniors earn during their service life. And it is difficult to cover expenses from the traditional approaches to retirement planning, which include investment in fixed-income assets.
Therefore, we believe equity investments are a brilliant way to create solid income streams for the long run. Though these are riskier, equities are the only asset class that can beat inflation and simultaneously offer capital appreciation over a longer period.
Tech Stocks are the Best Picks
Tech stocks could be an intriguing choice for a retirement portfolio, considering the sector’s resiliency amid the coronavirus-induced panic sell-off in March. The coronavirus outbreak has, surprisingly, opened up newer avenues of growth for tech companies.
Shift in consumer preference for Internet-based services, owing to the increase in social-distancing practices, has propelled demand for PCs, notebooks and peripheral accessories. In addition, the growing demand for software and hardware that facilitates work-from-home setting is a key catalyst.
Furthermore, the sector’s resiliency can be attributed to the impressive long-term growth prospects of tech companies. Rapid adoption of cloud computing, along with the integration of AI and machine learning, has been a major growth driver.
The accelerated deployment of 5G technology — the next-generation wireless revolution — is likely to fuel further growth. Moreover, blockchain, IoT, autonomous vehicles, AR/VR, and wearables offer significant growth opportunities.
Choosing the Stocks
It is difficult to pick the right stocks from a wide range of available investment opportunities.
This is where the Zacks Stock Screener comes in handy. With the help of this screener, we have filtered four stocks that are incredible for retirement investment planning. These stocks carry a Zacks Rank #1 (Strong Buy) or #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here