2 of the best ASX shares for your retirement portfolio

If you’re approaching retirement, then now might be the time to start focusing on capital preservation and income rather than chasing huge gains.

But which shares should you buy? Two ASX shares that could be great additions to a well-balanced retirement portfolio are listed below. Here’s why they are being tipped as buys:

This leading supermarket operator has been a very positive performer this year. Due to the pandemic, Coles has experienced a surge in demand from consumers, leading to a notable jump in sales and profits.

For example, in FY 2020 the company reported a 6.9% increase in sales to $37.4 billion and a 7.1% lift in net profit after tax to $951 million. Pleasingly, this strong growth accelerated in the first…