(Bloomberg) -- If your client wants a consistent stream of income when they retire, they’ve probably heard about a few familiar investment strategies. A dividend-paying stock gets investors a regular cash payout from a company while letting them participate in the stock market’s upside. Municipal bonds are safely backed by governments, and their income usually isn’t taxable.

But after years of low interest rates and rising stock markets, these once-conservative strategies might actually be putting investors in risky situations. Here’s where these income investors are going wrong:

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