To Gaucho 44. 

First thing, PLEASE STOP WRITING IN CAPITALS.  People dislike it.

Second, if you want income, the best investments to investigate are closed-end funds, many of which actually have the word "income" in their names!  I currently own 16 closed-end funds, of which 14 are for income.  In addition to paying yields of from 7 to 14% per year, most of these are selling at discounts, which is the equivalent of buying dollar bills for 85 or 90 cents each.  Check out the Closed-End Funds forum on Morningstar for more information.

Another excellent source of income is Master Limited Partnerships [MLP's], most of which are pipeline companies. They are extremely conservative investments yet pay yields of 6-7%. I own two of them. Preferreds are also good ways to get high income.

My portfolio of stocks, preferreds, MLP's and closed-ends is currently paying me an overall dividend yield of 5.90% a year.

Jagor