Right now a lot of companies are in the process of changing their defined benefit plans to cut costs and save money during these lean times. But, as you know, that means that retirees are going to be on the hook for most costs.
Perhaps the most visible company is GM (NYSE: GM), who recently cancelled the health care benefits for retirees over the age of 65.
For those being affected and for those who are looking to escape from tired mutual fund returns, Jack has an idea for you.
Stocks like Bank of America (NYSE: BAC), American Capital (NASDAQ: ACAS), Citigroup (NYSE: C) and Pfizer (NYSE: PFE) are all paying large dividends right now that could be your way to beat the market, if you're willing to be a patient investor.
Listen in as Jack explains how you might be able to employ this strategy and what sector you might want to watch as everyone frets the sagging economy.
Right now a lot of companies are in the process of changing their defined benefit plans to cut costs and save money during these lean times. But, as you know, that means that retirees are going to be on the hook for most costs.
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