For many investors approaching retirement income planning for retirement has become extremely difficult, if not downright impossible. So many people had hoped to live off of income generated by relatively safe treasury bonds and high quality corporate bonds, but that strategy is out the window for most given where interest rates are today. Even with interest rates rising over the past few months, they are still well below historical norms.

Growth is slowing in the U.S., Greece is on the verge of leaving the Euro, and some economists are now predicting a recession this year. Add to that the possibility of the Fed finally raising interest rates and we have a recipe for a potential plunge in corporate earnings and the stock market.

With the stock market continuing its rise, the dividend yields on many stocks are down. This combined with the continued low interest rate environment is putting major stress on those who want enough income in retirement so that they never run out of money.

Target (TGT) has been on a tear lately with its stock price up 26% over the past year. Perhaps equally impressive is that its dividend has increased by 20% over this same time period. For investors in Target, times have been very good.

With the recent major decline in oil prices, Exxon's (XOM) stock price has taken a hit. It is now down about 10% from its peak. Given the price decline, it dividend yield is now up to 3%.