When people hit retirement age, they typically move their financial focus from accumulating wealth to preserving it. In recent years, this trend has leaned heavily toward safe, income-generating assets that provide a hedge against inflation while also helping retirees pay the bills.
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So which assets do retirees invest in most? GOBankingRates asked Gemini that question, and it said that the typical retiree portfolio is broken down into the following four major categories.
Also see five investment options commonly recommended for retirees.
Fixed-Income Assets
This is the largest segment for most retirees because it provides predictable payments. Here’s a breakdown of the top fixed-income assets.
- Bonds. This category includes U.S. Treasurys, municipal bonds and corporate bonds. Many retirees use bond ladders to ensure that a bond matures every year to provide cash.
- Annuities. With annuities, retirees can essentially buy a “guaranteed paycheck” for life, which helps alleviate the fear of outliving their money.
- Certificates of deposit (CDs) and money market accounts. In 2026, many retirees are keeping significant portions of their “safe” money in high-yield savings accounts and certificates of deposit to earn 4% to 5% interest.
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Dividend-Paying Stocks
Retirees don’t abandon the stock market entirely — but they do change how they approach it, favoring value stocks over growth stocks. Here are two popular categories among retirees.
- Dividend Aristocrats. These are blue chip companies, often in the S&P 500, that have increased their dividends for 25 or more consecutive years.
- Real estate investment trusts (REITs). These allow retirees to invest in real estate without the headache of being active landlords. These investments are legally required to pay out 90% of their taxable income to shareholders as dividends.
Cash and Liquid Reserves
Gemini cited 2026 data showing that retirees in their 70s and 80s often hold 35% to 45% of their portfolio in cash or cash equivalents. These funds are used to cover two to three years’ worth of living expenses so retirees don’t have to sell stocks during a market crash.
Specialized Health and Inflation Hedges
This category includes the following:
- Treasury Inflation-Protected Securities (TIPS). These bonds are popular among retirees because their principal value increases with inflation. Another advantage is that they’re backed by the creditworthiness of the federal government, making them a safe investment.
- Health savings accounts (HSAs). For retirees who haven’t spent them yet, HSAs are treated as “super-IRAs” to pay for rising healthcare costs tax-free.
Average Portfolio Mix by Age (2026 Estimates)
Here’s a look at how retiree portfolios are typically broken down by age group, according to Gemini.
| Asset Class | Retirees (Age 65-75) | Late Retirement (85-Plus) |
| Stocks | 35% to 50% | 20% to 30% |
| Bonds | 30% to 40% | 20% to 30% |
| Cash/CDs | 10% to 20% | 40% to 50% |
| Alternatives (Gold/REITs) | 5% | 2% |
Charles Schwab recommended a slightly different asset spread based on the following age groups:
- Ages 60-69. Consider a “moderate” portfolio of 60% stock, 35% bonds and 5% cash/cash investments.
- 70-79. Moderately conservative (40% stock, 50% bonds, 10% cash/cash investments).
- 80 and older. Conservative (20% stock, 50% bonds, 30% cash/cash investments).
Editor’s note: This article is for informational purposes only and does not constitute financial advice. Investing involves risk, including the possible loss of principal. Always consider your individual circumstances and consult with a qualified financial advisor before making investment decisions.
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This article originally appeared on GOBankingRates.com: I Asked Gemini What Retirees Invest In Most — Here’s the 4-Point List
