Years of historically low interest rates have left investors starved for income, and feeling compelled to make a difficult choice in their ever-expanding search for growth.

Either invest in ultra-safe bonds and get their paltry payouts, or opt for high yielding investments that carry considerably more risk and volatility. Many investors remain overweight cash, hoping to lock in higher rates when yields finally climb. But with interest rates likely to remain low for the foreseeable future, the odds don’t favor this approach.

We’ve found that a diversified approach to income investing can help savers combat the low interest rate environment. In our view, choosing a broader set of income-producing assets may help improve a portfolio’s risk/return profile.

A truly well-diversified portfolio draws from a variety of income-producing asset classes, including stocks, bonds, real assets and alternatives, an approach that may allow investors to earn competitive yields without taking on excessive risks.

Read our full perspective on finding income in a low rate world.