No. of Recommendations: 4
Although I haven't gotten very far in searching for preferred shares, I was trying to use QuantumOnline and also look at the free info you get via your brokerage. I was cross checking the companies in both Fidelity and Schwab to get a better idea of what the company is, financial ratings, etc. It takes some effort and I've been lazy and distracted.
For some money I took the easy/lazy way with MYGAs (multi-year guarantee annuities). I'm not fond of dealing with insurance companies but I had a couple that matured a few years ago and since I could still get 5-5.5% for 3-5 yrs of money, I went for it. I only use companies rated A- or better and never go past 5 yrs.
This money would be used to cover expenses at the 3 yr and 5 yr mark (i.e., money to bridge us to when I collect social security). I already have a bunch of individual treasuries and TIPs to cover some other years.
I think if you know what you are doing (not sure that is me), preferred stocks are a solid idea for a retiree.
Good luck
Rich
