3 Cheap High-Yield Dividend Stocks to Grow Your Retirement Portfolio

If you're looking to grow your retirement portfolio, there are two things that can make a huge difference. First, find stocks with low valuations. Second, find stocks that consistently pay high dividend yields. History shows that, more often than not, cheaper stocks of solid companies perform well over the long run. And reinvesting dividends is one of the best ways around to make investments grow.

But can cheap high-yield dividend stocks be found? Absolutely! Here's how three of them -- AbbVie (NYSE:ABBV), Cisco Systems (NASDAQ:CSCO), and Ford (NYSE:F)-- check off all the boxes for retirees. The biggest risk for AbbVie comes from potential competition for Humira. A biosimilar won U.S. regulatory approval last year, but AbbVie is using the court system to defend its patents for the drug. Wall Street analysts project that Cisco should be able to grow earnings by 10% annually over the next several years. Ford is laying the groundwork to become a leader in the autonomous car market, founding a start-up to focus on self-driving technology in February.

Source: Motley Fool

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