“My favorite stock is Johnson & Johnson. They have been in business since 1885 and have paid rising dividends since 1944. When people think of Johnson & Johnson, they always think of Band-Aids and baby shampoo, but they are the largest provider of medical devices in the country. They are also one of four companies in the United States that have a triple-A credit rating. Everybody should own some Johnson & Johnson. It fits in any portfolio.
“Another one of my favorites is California tax-free bonds. Franklin-Templeton offers one that has been around since 1977 and its average annual return is 5.63 percent. What’s important to remember is that these bonds are free from federal and state taxes.