By this point, all the hard work should have paid off handsomely. Your high risk investments made in your 20s will have turned into 10-baggers and then have been bought by a company like Google for twice as much again. The result is a tidy sum that is able to be put to work so you don't have to any more.
The kinds of companies to look for in your 60s are reliable perennial earners with slow and steady growth. There are three industries in particular to consider here.
Property funds
Property funds offer good cash flows and slow and steady growth. Well managed funds offer low risks and many investors like the thought of the shares being backed by real bricks and mortar. There are numerous funds up for consideration, however General Property Trust (ASX: GPT) is my pick because of its forecast 6% earnings per share growth in 2013 and its near 100% occupancy rate. In the race for 'slow and steady', this is the kind of company that can win.
Insurance
While you may have neglected it through your 20s and early 30s, by the time you hit 40 you know the ins and outs of insurance companies better than you ever thought possible. Like property funds, Australia is home to a raft of insurance companies. Suncorp Group (ASX: SUN) is a good candidate that looks set to start a new phase of strong performance after a thorough restructure. It pays a 4% dividend, but this is likely to rise as earnings stabilize.
Supermarkets
It is hard to envisage a scenario where supermarkets are not required in the world going forward and the dominance of the main three companies makes them the only players in town. However it also makes for cut-throat competition.
The main two players, Woolworths (ASX: WOW) and Wesfarmers (ASX: WES), are having their margins squeezed as the result of competition, but have been stable earners and diversification will likely see them continue to churn out cash.
Foolish takeaway
They may not have the sex appeal of the companies that would catch your eye in your 20s, but property funds, insurance companies and supermarkets are the kinds of companies to offer stability and reliable dividends for a steady income in your 60s.
