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Reaching retirement is a milestone worth celebrating; you’ve saved wisely for years, and now you’re ready to reap the benefits of your hard work. At the same time, you may want to explore some investment opportunities to maximize your retirement income and continue living your best life.

Fortunately, there are a few relatively safe and smart investment opportunities that are great for retirees. These options offer high returns with a low overall risk.

  1. Bonds

Perhaps the safest bet when it comes to post-retirement investing is the old-fashioned bond. These can be purchased individually or grouped into different funds; either way, a bond comes with a set maturity date at which you can cash it out for a pre-determined amount of money with essentially no risk involved whatsoever. Bonds are typically guaranteed by governments or large corporations, so you should have no issues collecting on them when the time comes.

  1. Retirement Income Funds

Similar to mutual funds, retirement income funds allow you to invest your retirement income into a diversified portfolio that typically contains an assortment of both stocks and bonds. This can be a great option to increase your monthly income in a way that is relatively risk-free and offers quick returns. And as an added bonus, these funds are set up in such a way that you’ll always have access to your money if needed.

  1. Real Estate Rentals

If you’re interested in an investment opportunity that requires a little more involvement on your part, then investing in real estate may be right up your alley. Specifically, renting out residential real estate can be a lucrative opportunity. Consider taking out a mortgage to purchase a property that you can then rent out to tenants at a substantial monthly profit. Just make sure you’re prepared for the responsibilities that come along with being a landlord—or that you’re willing to hire a property management company to handle those responsibilities on your behalf.

These are just a few of the best investment opportunities for retirees to consider. For more information and guidance on which investments are best for you, contact our team at Santa Clara County Federal Credit Union today. We also offer a wide range of mortgage options for those who are thinking about purchasing a property for rental income.