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Image source: Getty Images<\/p>\n
Those with a full record of National Insurance contributions can currently receive a State Pension of \u00a312,548 a year.<\/p>\n
But according to experts, a single person needs an income of \u00a313,400 to provide for a basic retirement. For those seeking a moderate standard of living in old age, \u00a331,700 is required. Worryingly, this is \u00a319,152 more than the State Pension.<\/p>\n
Should you buy James Halstead Plc shares today?<\/p>\n
Before you decide, please take a moment to review this report first. Despite ongoing uncertainties from Trump’s tariffs to global conflicts, Mark Rogers and his team believe many UK shares still trade at substantial discounts, offering savvy investors plenty of potential opportunities to learn about.<\/p>\n
That’s why this could be an ideal time to secure this valuable research \u2013 Mark’s analysts have scoured the markets to reveal 5 of his favourite long-term ‘Buys’. Please, don’t make any big decisions before seeing them.<\/p>\n
However, by using a Stocks and Shares ISA, I reckon it\u2019s possible to make up this shortfall (and more). Let me explain.<\/p>\n
What do the numbers look like?<\/p>\n
An ISA worth \u00a3209,133, paying dividends at 6%, would generate \u00a312,548 a year. Add this to the full State Pension and it could provide a retirement income of \u00a325,096.<\/p>\n
To generate \u00a319,152 \u2013 which would give \u00a331,700 when combined with the maximum State Pension \u2014 a retirement pot of \u00a3319,200 is needed.<\/p>\n
How might this be achieved? By way of example, investing \u00a3266 a month for 25 years, growing at 7% per annum, could build an ISA of \u00a3209,133. Increasing this to \u00a3406 would produce an ISA valued at \u00a3319,200.<\/p>\n
But is it really possible to earn 6% in dividends each year? I think so.<\/p>\n
Lots on offer<\/p>\n
There are presently (26 April) 89 UK stocks offering a yield of 6% or more. Obviously, dividends cannot be guaranteed. And in some cases a high yield could be a warning sign that it\u2019s unsustainable.<\/p>\n
However, companies with low debt levels, limited capital expenditure requirements, and strong cash flows are well placed to return a significant proportion of their profit to shareholders.<\/p>\n
And if they\u2019re in a stable industry where rapid growth is unlikely, their share prices often trade at relatively low levels and their yields remain above average.<\/p>\n
Such as?<\/p>\n
One company that meets this description is James Halstead (LSE:JHD<\/a>). As a global manufacturer and supplier of flooring to commercial and residential customers, it tends to fly under the radar. Yet its current dividend yield of 6.4% is worthy of a few headlines.<\/p>\n Apply this to a \u00a3209,133 ISA and it would produce a healthy income of \u00a313,385 a year.<\/p>\n Impressively, after first returning cash to shareholders in 1979, it\u2019s increased its payout every year since.<\/p>\n However, it\u2019s struggled since the pandemic. Both the group\u2019s costs and the spending power of its customers were affected by post-Covid price rises. Of concern, the current Middle East conflict raises the spectre of inflation picking up again<\/a>.<\/p>\n