Creative Ways To Add Income To Your Retirement

Retirees are constantly on the hunt for income but the terrain is not only becoming more difficult to cover, the targets are also getting more and more dangerous. Stocks are at an all-time high, which means dividend payments are lower. Interest rates remain low, yet the prospects of the Federal Reserve raising rates within a year continue to climb higher making good long-term fixed income holdings as elusive as stalking Sasquatch… or Bigfoot in layman terms.

Whether your five years away from retirement or walking out the door tomorrow, it’s likely you still have some assets in an existing or old 401(k) or 403(b). While many investment professionals suggest reducing your equity positions for fixed income as you get closer to retirement, I suggest swapping growth related funds for income oriented ones. Fact is, on the day you retire you’re not going to need all your money in cash or fixed income. It may have to last 20, 30, or even 40 years, meaning you still need some equity exposure.

Source: Forbes

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