Ways to Boost Your Investment Income

If you need to live off your savings and investments, you're having a tough time right now. For tens of millions of Americans, it's a struggle.Interest rates are on the floor. A one-year certificate of deposit barely pays 1% -- just $100 for $10,000 of savings. Yields on government and corporate bonds remain near historic lows. And yet your costs are rising. The official inflation rate is 1.6%, but it surely understates the reality for many people. Many household items are rising much faster than that, and with raw-materials costs booming -- from copper to cotton -- we can probably expect further rises ahead.

What can you do? In this environment it can be a big mistake to try to force things by taking on too much risk. It may be sensible to be patient, hold lots of short-term CDs and wait for better opportunities. But you're not without options. If you need income, here are six moves worth thinking about. 1. CD ladders, 2. Prepaying expenses, 3. TIPS, 4. Blue-chip stocks, 5. Selective bonds and 6. Master limited partnerships.

Source: Wall Street Journal

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