By Christine Benz, Morningstar
CHICAGO ( Morningstar) -- Ernesto, a 63-year-old former engineer, is looking forward to a long and happy retirement with a peace of mind most retirees and pre-retirees would find enviable. Having retired seven years ago and still earning some income through periodic consulting work, he relies on a pension that more than covers his day-to-day living expenses. His children are grown, and he owns his home outright. In addition, he has managed to set aside more than $1 million in investment assets.
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Ernesto's portfolio is streamlined and conservative to the hilt, and his long-term investments are all favorites of Morningstar's ( MORN) fund analyst team.