Over 60% of millennials believe they will have a part-time job during their retirement years. But it does not have to end up this way. If you are able to save up through your working years and invest into safe stocks that produce cash, that might make for a very enjoyable retirement.

Two dividend stocks that could be a foundation for your stock portfolio in the long term and give greater cash are Fortis and Walgreens Boots Alliance. Both of these companies have strong records of boosting their dividends over the years, and they seem like very good investments to buy and hold.

1. Walgreens Boots Alliance

Healthcare company Walgreens raised its dividend payment back in July, marking the 46th year it did so. Investors who own this Dividend Titan will now bring in $1.91 a share each year, up from $1.87. With the raise, the stock is now producing an impressive 4.1% — well higher than the S&P 500 average of under 1.4%.

Investors have been uneasy about the company due to competition from companies like Amazon that are getting more into healthcare. There are even some rumors that Amazon might launch its own pharmacy. But Walgreens is not slacking, and it has been doing the right things to get more competitive.

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The company gives same-day prescription delivery from almost all of its locations, every day. It is also seeking to open 600 facilities for primary care over a four-year time line in their partnership with VillageMD.

While its profit margins are slim (usually no higher than 4%), the firm has a positive net income in every year in the past five. And its payout of 74% seems very sustainable. It might not be a top growth stock to purchase, but the investment might be a great source of recurring income. And the stock is cheaper, trading at a forward p/e multiple of only 10; meanwhile investors are handing over 11 times future earnings for the company’s rival CVS Health.

2. Fortis

Utility firm Fortis has been enlarging its dividend for 47 years. Its yield of 3.7% is higher than the average and can give you long-term stability. Over the previous four years, the firm’s profit margin was 12% or more. And their top line steadily increased during that time from 8.3 billion Canadian back in 2017 to over $8.9 billion last year — that’s an increase of 8%. While it’s not high growth, utility stocks are known mostly for their security instead of growth.

The company says it will increase its dividend by 6% every year at least until the year 2025. At this same time, it will push forward with its other growth opportunities, including focusing on clean energy — Fortis plans to remove carbon emissions by up to 75% by 2035.

Not every stock experienced a hot July. Some growth companies saw their shares take a step or two back last month. So opportunity is knocking if you know where to look.

Shares of Pinterest and Coinbase Global lowered last month. They are now trading between 35% and 47% under their 2021 highs. Let’s go over why I believe these are two stocks with good chances to getting back on track this month.

Pinterest

One of July’s biggest losers was Pinterest, losing over a quarter of its value back in July. The biggest decline came on the final day of trading for the month, as Pinterest’s stock went down 18% after it revealed disappointing financial numbers.

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Revenue was well higher than expectations, but the market was hit by a 5% y/y decline and a 7% quarter-over-quarter lowering in U.S. users. Pinterest was an early winner during the lockdowns, as folks went to the image-centered social platform for recipes, home decoration tips, and other crafty ideas. It’s only logical for its customers to be distracted with real-world hobbies and responsibilities as we get past COVID-19. The 7% dip was something that even shocked bears.

The good news is that revenue is increasing because average revenue per customer in the U.S. has more than doubled over the previous year. With some unfortunate signals that we are not entirely over covid-19, we could see a one-two boost where Pinterest usage rises again with the company’s better monetization in place.

Coinbase

Coinbase Global held up much better in July than Pinterest did — down only 7% — but the company also shed almost half of its top IPO value after reaching the market previously this year. The top cryptocurrency exchange goes into August almost 45% under its April high.

Whether you believe digital currencies will go up or down in the next weeks or months, it’s a fair bet that volatility will be seen. Coinbase benefits from trading volume. Falling crypto prices will naturally harm overall demand, but this was a firm that started the year with an 845% surge in revenue on explosive profitability. Growth will decline, naturally, but Coinbase should keep appreciating at a headier clip than crypto prices are.

When it comes to choosing stocks to keep for the long term, it is wise to focus on the underlying business. 

To win your investment dollars, a corporation should be able to show a strong history of growth, have a durable competitive moat, and have lots of tailwinds that can help you be sure it will keep bringing in prosperity.

And regardless of which path the economy takes as the United States looks ahead, there are some companies that are well-positioned to take advantage of almost anything that can happen in the future — which is why the following two stocks are great candidates to have in your investment portfolio for the next ten years or so.

Facebook

Facebook is an important social media website, Gen Xers, as well as baby boomers — even if they do not all favor the same types of programs. The company also owns Instagram and WhatsApp, and it is an advertising behemoth. Its dominance in the digital ad sector should keep going in the foreseeable future as no other social media website comes meet its reach and scope.

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The company has impressive figures too. Q2 revenue has 56% higher than the same time frame last year, while profit more than doubled, reaching $12.4 billion. Net income increased by 101% y/y to $10.4 billion. Daily and monthly user counts were also up by 6.9% and 7.2%, respectively.

Shopify

The pandemic has caused many business owners to increase their retail operations online, and Shopify gives a platform that allows this transition to be convenient and seamless. The company gives entrepreneurs and larger enterprises the digital tools they need to build and grow their businesses, earning a piece of their transactions in exchange.

With consumer spending increasing, Shopify has reported strong growth over and over again. In their Q2, the company’s revenue went up by 57% y/y/ to $1.1 billion. As more companies joined its platform, subscription revenue boosted by 70% year over year. Recurring monthly revenue and gross merchandise value also kept going up, increasing by 67% and 40%, respectively.