Paul Merriman, founder of the Merriman Financial Education Foundation, discusses income strategies for people who are no longer employed.
Here’s the PDF used in Paul’s presentation, complete with links:
Paul Merriman’s Favorite 12 Vanguard Funds for Retirees
Presented with the Bainbridge Community Foundation
Merriman Financial Education Foundation: …(read more)

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As people enter retirement, ensuring a steady stream of income becomes a top concern. While relying on savings and pensions is common, increasing investment income can provide an extra cushion to maintain financial stability throughout retirement. Here are 10 ways to boost your investment income during retirement:

1. Diversify your portfolio: Invest in a mix of stocks, bonds, and other assets to spread out risk and increase potential returns. Diversification can help protect your investments from market volatility and provide a steady source of income.

2. Consider dividend-paying stocks: Investing in companies that pay regular dividends can provide a reliable stream of income. Look for stocks with a history of dividend payments and strong fundamentals.

3. Invest in real estate: Purchasing rental properties or real estate investment trusts (REITs) can generate passive income in the form of rental payments or dividends.

4. Consider annuities: Annuities can provide a guaranteed income stream for a set period or for life. While they may come with fees and restrictions, annuities can provide a sense of security in retirement.

5. Take advantage of retirement accounts: Maximize contributions to retirement accounts such as IRAs and 401(k)s to take advantage of tax benefits and potential growth opportunities.

6. Utilize a systematic withdrawal plan: Set up a systematic withdrawal plan from your investment accounts to receive regular income payments, while still allowing your investments to grow.

7. Invest in dividend ETFs: Exchange-traded funds (ETFs) that focus on dividend-paying stocks can provide diversification and a steady stream of income.

8. Consider peer-to-peer lending: Investing in peer-to-peer lending platforms can provide a higher yield compared to traditional fixed-income investments.

9. Seek professional advice: Work with a financial advisor to develop a retirement investment strategy tailored to your specific needs and goals.

10. Stay informed and be proactive: Keep track of market trends and economic developments to make informed investment decisions. Regularly review and adjust your investment portfolio to maximize returns and mitigate risks.

Increasing investment income in retirement requires careful planning, diversification, and a willingness to explore new opportunities. By following these ten strategies, retirees can enhance their financial security and enjoy a comfortable retirement.