5 of the best investments on the ASX right now to complement your superannuation

For retirees looking to complement their superannuation with quality investments, there are several factors to consider. 

Dividend stocks are a fantastic option because they provide passive income that can supplement retirement savings while offering the potential for long-term capital growth. 

Companies with a strong history of paying consistent, and ideally increasing, dividends can provide a reliable income stream, although it’s important to remember that dividends are not guaranteed and share prices can fluctuate. 

Another important consideration is the impact of inflation.

Many retirees will need to live off superannuation for more than 20 or 30 years, and inflation can eat into the purchasing power of their savings over time. 

Investments that have the potential to deliver returns above the rate of inflation can help preserve wealth and maintain living standards throughout retirement. 

Building a diversified portfolio that includes growth assets alongside income-producing investments can provide a balance between protecting capital and ensuring retirement savings continue to work over the long term.

Here are five options to consider that stretch across growth and income assets to compliment your superannuation. 

Dividend stocks to consider 

For retirees looking to target dividend stocks, one great option is Telstra Group Ltd (ASX: TLS). 

It is often considered an attractive dividend stock for retirees because of its established market position, relatively stable cash flows, and history of paying consistent dividends. 

Its essential telecommunications services provide resilient earnings, making it a popular choice for investors seeking reliable income alongside the potential for modest long-term capital growth.

Another dividend stock with a strong reputation is BHP Group Ltd (ASX: BHP). 

It is a popular dividend stock for retirees because of its strong balance sheet, global leadership in mining, and history of returning a significant portion of profits to shareholders through dividends. 

While dividend payments can fluctuate with commodity prices, BHP’s exposure to essential resources such as iron ore and copper provides the potential for attractive income and long-term growth.

Finally, income investors might also target Macquarie Group Ltd (ASX: MQG). 

While its dividend may be more cyclical than those of traditional defensive companies, Macquarie’s exposure to infrastructure, asset management, and renewable energy provides both income potential and opportunities for long-term capital growth.

Growth shares to consider 

While passive income is important, it isn’t the entire story for a healthy compliment to your superannuation. 

For investors looking to outpace inflation during retirements, two great ASX ETFs to consider are: 

• BetaShares Nasdaq 100 ETF (ASX: NDQ)
• Vanguard Diversified High Growth Index ETF (ASX: VDHG)

These ASX ETFs focus on strong long-term growth potential. 

This makes them both an attractive option for retirees seeking capital appreciation to help offset the effects of inflation.

They also offer broad international diversification helps reduce single-market risk while providing long-term growth potential.

The post 5 of the best investments on the ASX right now to complement your superannuation appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Bell has positions in BHP Group and BetaShares Nasdaq 100 ETF. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended BetaShares Nasdaq 100 ETF and Macquarie Group. The Motley Fool Australia has positions in and has recommended BetaShares Nasdaq 100 ETF and Telstra Group. The Motley Fool Australia has recommended BHP Group and Macquarie Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.