A diversified portfolio that includes these three stocks could help retiree portfolios ride out the market's inevitable ups and downs, Motley Fool contributors recommend.

Here are the Fool’s three tips:

• Johnson & Johnson (NYSE:JNJ), the maker of big-name consumer goods such as Listerine and Band-Aid, is also a major player in drug development and medical devices. "That means that Johnson & Johnson is perfectly positioned to profit as America gets increasingly older. In the heart of the Great Recession, shares in Johnson & Johnson fell by just 7.7% in 2008, and that was about 30% better than the S&P 500 that year."

• The Consumer Discretionary Select Sector SPDR ETF (NYSEMKT:XLY) "is an exchange-traded fund providing exposure to nearly 90 companies in the consumer-discretionary sector. This includes businesses such as retail, entertainment, restaurants, automobile manufacturers, and apparel goods, among many others. The portfolio includes many of the most-valuable and recognized brands around, including names such as Amazon, Walt Disney, McDonald's, Starbucks, and Nike."

• Magellan Midstream Partners (NYSE:MMP). "Unlike many other companies in the energy space that vacillate with the price of oil, Magellan's business of transporting and storing crude oil and refined petroleum products is mostly done under long-term, fixed-fee contracts."

The Huffington Post also advises that while you are gathered with family this holiday season, it’s a good time to talk to them about your wishes, should something happen to you if you become unable to make financial or medical decisions for yourself.

There are two very important documents that you and your spouse or partner should have in place:

• Financial Power of Attorney:  Creating a financial power of attorney lets you designate someone to make financial decisions on your behalf, should you become incapacitated or unable to make those decisions for yourself. 
• Medical Power of Attorney: Like the financial power of attorney, the medical POA lets you choose who will make medical decisions on your behalf if you are not able to make those for yourself.

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