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As the baby boomers start to retire, making their investment nest eggs last will be a priority.
Rising life expectancies coupled with escalating health-care costs will force the baby boom generation to rethink the conventional retirement wisdom of cashing in stocks for bonds.
David Williams — who will be retiring at the end of 2012 after 37 years as a mutual fund manager, including the last 18 years at the helm of $6.4 billion Columbia Value & Restructuring — cautions fellow boomers not to get too conservative.
Instead, he recommends buying and holding blue-chip stocks that not only throw off income but can also deliver steady share price growth.
"We believe that higher quality companies will provide better risk-adjusted returns over full market cycles," adds Jason Lilly, co-manager of the Bright Rock Quality Large Cap Fund and a financial advisor catering to the generation entering their golden years.
High-quality stocks that can produce both growth and income play an important part in enabling boomers to maintain a comfortable lifestyle through what's likely to be a long retirement.
Stocks with staying power possess similar qualities — market leadership, shareholder-friendly management, strong balance sheets, consistent profitability and healthy cash flow.
With that in mind, here are 14 stocks to consider as core holdings for the future:
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