With the new Federal Budget comes the proposal that retirement age should be raised to 70 by 2035. If you were born in 1965 or after, then you may now need around three to five years of more income before you hit the magic number.
One way to maximise your earnings is by investing. You can even get a tax break on investing through your super because that income would be taxed at a lower rate.
The goal now is to decide what stocks could give you strong, reliable returns. There will be ups and downs in the market, but good quality companies bounce back. You can even pick up more of them on the cheap after sell offs.
Here are three stocks that have good growth track records with the ability to expand further.
BHP Billiton Limited (ASX: BHP)
The world's biggest miner and largest ASX-listed company is recovering from the mining pullback and streamlining its businesses to maximise earnings and margins. It is focusing on iron ore, oil and gas, copper and coal.
Asian economic growth is a driving growth factor and BHP can supply the region's basic needs for decades to come.
Ramsay Health Care Limited (ASX: RHC)
Health care is always in demand, so as populations grow the need for medical centres rises. This private hospital operator has medical facilities in Australia, South East Asia and Europe. Its next step is to expand into China, where health care demand is enormous.
The opportunities are wide and long-term for the company. As a growth stock, it has doubled its net profits since 2009 and is still acquiring new medical facilities.
Macquarie Group Ltd (ASX: MQG)
The investment bank is making great strides in business due to the financial recovery of domestic and overseas markets. Corporate activity in IPOs and mergers & acquisitions activity is rising and funds management is achieving higher returns.
FY2014 annual net profit was up almost 49%. Its 4.7% dividend yield is also quite attractive in this low cash rate period.
