Nearing Retirement? The 3 Best Defense Dividend Stocks to Buy Now

Investing during retirement is different than investing for retirement because there is a far greater need for stability, preserving capital, and generating income. That doesn't mean you need to put all your money in Treasuries, but you really can't bet on risky ventures anymore because you don't have the time to make up for any mistakes if they fall apart. That's why I think the defense industry is an excellent place to look for investments as you near retirement.

Raytheon Technologies (NYSE: RTX) is the second-largest defense contractor in the U.S. and makes the Patriot surface-to-air missile (SAM) system, along with Tomahawk cruise missiles. It's also developing next-gen hypersonic air-to-air missiles. The arguments in favor of Raytheon hold equally true for Lockheed Martin (NYSE: LMT), the country's largest military contractor, which derives virtually all of its revenue from the government. It's not quite on the scale of Lockheed or Raytheon, but firearms manufacturer Smith & Wesson Brands (NASDAQ: SWBI) deserves your consideration too.

Source: NASDAQ

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