Retirees and soon-to-be retirees may have investment options they haven’t either considered yet, according to BusinessWeek Online.One option is to decrease spending, and eliminating or reducing unneeded life-insurance coverage can cut down on the need for cash today, financial planners suggest. Also, baby boomers might even be able to turn the cash value of an unnecessary policy into an annuity.

The recent rising interest rate environment has led some investors to seek fixed-income investments other than bonds, which tend to underperform in those circumstances. “Nontraditional fixed income offerings, such as bank loans, can be a smart income generating alternative,” said James Holtzman, a financial planner at Pittsburgh-based Legend Financial Advisors. “Nontraditional fixed income still isn’t correlated to stocks, but has done well when interest rates rise.” 

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