A big alternative to stocks is fixed income, so what is it?
It means bonds, and there are many kinds of bonds. When you buy a bond it’s usually $1,000 denominations, but sometimes can be more.
You’re typically paid an interest rate semi-annually or quarterly. Most of them are taxable or you can go tax free.
Bonds are considered safer than stocks, which is why people should have some bonds in their portfolio.
For more finance tips, go to the Money Monday page.