If your objective is fixed income with more modest risk and you want a reliable dividend stream, consider traditional preferred stocks (avoid convertible and adjustable rate preferreds unless you clearly understand them). Here are some general characteristics:
It's a hybrid security which represents equity ownership in a company but has fixed payments like bonds. Its price doesn't gyrate around from earnings announcements and most other market events.
The yield is usually higher on than on the common stock of the same issuer.
They have a call feature (usually 5 years after the issue date) which gives the company the option to buy back the shares at the issue price. This can be a problem if rates go down and issues are called. replacements will be at a lower yield.
They act like long term bonds and will behave like bonds ( price moves in the opposite direction of interest rates). If you won't need the principal in the foreseeable future, the interest rate cycle is unimportant. Secondarily, share price will be affected by the issuer's credit rating.
Investment grade Pfds currently pay about 6%. As a general rule, consider only “cumulative” issues which requires the company to pay missed preferred dividends before it pay dividends to common shareholders. IMHO, if this comes into play, you've far overstayed your welcome.
Because most Pfds have low trading volumes, it doesn't take much to move their price. With some diligent swapping, you can easily bump the 6% yield to 9-10%. When we had a normal interest rate cycle (pre 2008), it could be bumped even higher.
Note that all investments have risk. These are lower on the risk scale but at times they move up sharply (see 2008 when many financial preferreds lost 1/3 to 2/3 of their price). For that reason, they are also good for shorting when under duress but that's beyond the scope of your question.