Investors know they can't generate sufficient income from a traditional portfolio of CDs, bonds, and market markets; the yields are too low, notes Bob Carlson, editor of Retirement Watch.

Here's a look at two new additions to our Retirement Paycheck portfolio which seek high income without stretching for yield.

We are recommending Cohen & Steers Infrastructure (UTF), which used to be a utility stock fund. However, a few years ago, it switched to one that invests in infrastructure companies, especially those that have utility-like characteristics.

It looks for companies that provide part of the physical framework, such as utilities, pipelines, tolls roads, airports, ports, and telecommunications. Its primary goal is high current income.

Recently, the fund's top sectors were integrated electric utilities, cell tower operators, corporate bonds, master limited partnerships, and toll roads.

The companies held in the portfolio are headquartered 51% in the US, 9% in France, 8% in the UK, 6% in Japan, and 4% in Canada.

The top recent holdings were America Tower (AMT), Crown Castle (CCI), Vinci (VCISF), Dominion Resources (D), and NextEra Energy (NEE).

We're buying these companies at a discount because the fund sells at an 11% discount to net asset value, which is a little above its long-term average discount. The fund uses about 27% leverage to produce a yield of 6.96%.

We're also adding Cohen & Steers Global Income Builder (INB) to our Retirement Paycheck portfolio.

This fund focuses on earning current income via global large company stocks, global real estate securities, global infrastructure stocks, global preferreds, and closed-end funds.

The portfolio recently was 53% in US stocks, 38% in non-US stocks, and the reset in bonds and other investments.

Its top holdings were Exxon Mobil (XOM), Kroger (KR), Tyson Foods (TSN), CVS Health (CVS), Avago Technologies (AVGO), and Actavis (ACT).

The fund recently sold at a fractional discount to net asset value, but has averaged a slight premium over the last six months. It uses about 20% leverage and currently yields 9.35%.

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