3 Stocks to Supplement Your Social Security Income

The fact is, however, that the average Social Security check just isn't all that big. The Social Security Administration reports that in 2020, the average monthly payment for retirees is $1,544. That's a decent start, but it won't fully fund the sort of retirement lifestyle most of us envision. Fear not. A trio of hand-picked dividend stocks can readily and reliably supplement your monthly Social Security income and get you closer to where you want to be income-wise. Here's a closer look at each.

It's more than a familiar name. Bank of America (NYSE:BAC) is the nation's second-biggest bank, as measured by assets, boasting 66 million customers and a network of around 4,300 branches. The company does a little of everything, from consumer lending to brokerage to institutional investing. It's another name that doesn't need much of an introduction. Verizon (NYSE:VZ) is the biggest wireless name in the U.S., with Comscore reporting the company controls 31% of the market. That's 94.6 million connections, with 368,000 of them brought into the fold just last quarter. Finally, add Texas Instruments (NASDAQ:TXN) to your list of stocks that can help retirees produce more spendable income.

Source: Motley Fool

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