"We believe it is prudent to lock in some profits, and focus on developing an income stream in the event that we get either a major correction or double-dip recession," says Glenn Rogers.

The contributing editor to The Internet Wealth Builder suggests, "It seems to me to that the most promising areas worth considering are high-yield bond funds and international real estate funds, preferably with some underlying income." Here, the reviews four income ideas.

"I like high-yield bond funds, even though there is concern that interest rates will rise in 2010.

"Chinese markets have been absolutely soaring this year," says long-standing income expert Carla Pasternak.

In her High Yield Investing advisory, she suggests, "The China Fund (NYSE: CHN) - ranked in the top 1% of funds in the Pacific/Asia ex-Japan category for the latest ten-year period -- should be an excellent way to play this growth story over the long term."

"China's massive stimulus spending and interest rate reductions have succeeded in igniting domestic demand.

"It's time to take some profits and play defense for a while," says Glenn Rogers, adding, "Fortunately, we can hedge our bets by taking some profits and building cash reserves and reinvesting in more defensive securities."

In The Internet Wealh Builder, the advisor suggests, a trio of conservative dividend-focused exchange-traded funds.

He explains, "Everybody I talk to these days is nervous, although for different reasons. Some are nervous because they feel left behind. They sat on the sidelines and missed the incredible rally we've had since March. Now they're afraid they won't have a chance to participate because the market has been refusing to correct.

"Others are nervous because they made a pot of money in the rebound and they're afraid they could lose it all in a replay of last year's meltdown. Meanwhile, there some relatively low-risk ETFs where you could park some money while we see how all this plays out.

"All across America, college town populations are rising much faster than practically any other real estate market; that's because enrollments on a national basis are on a steady rise," says income expert Bryan Perry.

In his The Cash Machine, he looks to Education Realty Trust (NYSE: EDR), a real estate investment trust that provides high-quality student housing throughout the U.S.

Perry explains, "While it's still early to call a bottom for real estate in a number of regions -- especially in commercial properties -- one thing is for sure: Parents will give their right arms to send their kids to great colleges.

"There is a stealth bull market for apartment growth in major college towns, and rents are only going to rise in the years to come as the broader economy rebounds.

"We think that junk bonds -- bonds rated BB+ or lower by S&P or Ba1 or below by Moody's -- are worth considering as part of a diversified income portfolio." says Carla Pasternak.

In her High Yield Investing, she asks, "If you agree with us that one's person's junk may turn out to be your treasure, how do you invest?" She answers by offers a pair of junk bond fund ideas.

"SPDR Barclays Capital High Yield Bond ETF (NYSE: JNK) has a $2.2 billion portfolio of 140 junk bonds. Its holds junk bonds in only three sectors: industrials (75.8%), utilities (12.16%) and financials (8.72%).

"It pays a monthly distribution comprised entirely of earnings. JNK is best held in a tax-advantaged account as distributions are taxed at your marginal income tax rate.

"Right now, I believe real estate investment trusts (REITs) are one of the worst places you can put your money; but there is one exception," says Tom Dyson.

In Daily Wealth, he looks to Realty Income (NYSE: O), explaining, "This REIT -- which has paid 463 consecutive quarterly dividends -- is one of my all-time favorite income investments." Here's his review.

"I see abandoned real estate all over my town. Half the businesses still operating are running on fumes. Our Kmart is a basket case. It's always empty. The Walgreen's is a teardown. Sears has gone. The carpet store has gone and they've boarded up the car dealership.

"Our favorite and steadiest U.S. telecom recommendation is Verizon Communications (NYSE: VZ)," says Martin Weiss.

He explains, "We've always liked their steady-Eddie business and their tradition of paying handsome, predictable dividends." Here's the latest from the "conservative portfolio" section of his The Safe Money Report.

"While companies have been cutting dividends at an historic pace over the last 24 months, the fact is that there are still quality companies with long histories of paying dividends that represent good long-term investments," says Chuck Carlson, a specialist in companies offering dividend reinvestment plans.

In his top-notch The DRIP Investor he says, "The seven stocks featured here have each been paying a dividend for over 100 years, have raised their dividend annually for at least the last quarter century and offer direct-purchase plans.

"I remain optimistic that now is a good time to be purchasing high-yielding assets," says growth and income expert Bryan Perry.

Indeed in his industry-leading The Cash Machine, the advisor adds two growth and income picks to his buy list: AT&T (NYSE: T) and Verizon (NYSE: VZ). Here's his assessment.

"Even if you are forecasting a recovery in mid to late 2010, you should be aggressively buying strategic high-income assets over the next three to six months.

"While I continue to avoid bank stocks and bank ETFs , I very much continue to recommend that you buy and own plenty of nicely high-yielding bank preferreds and bank minibonds for your retirement investing," says Neil George.

In his income-focused Stocks that Pay You, the advisors reviews his favorites among these lesser-known investment vehicles.

"Why invest in banks at all? Because -- as they continue to clean up and bolster their balance sheets -- banks are getting even better credit risks, which means that you'll be even more likely to get paid your high-yield dividends and interest payments.

"Kinder Morgan Energy Partners L.P. (NYSE: KMP) is a paragon of consistency; the stock continues to rise and the company continues to deliver on its expectations," says Jack Adamo.

In his Insiders Plus newsletter, he explains, "The master limited partnership has made great strides in cost controls to compensate for the weak economic environment. When things turn around, it could really take off."

"KMP is one of the largest and most respected pipeline and energy storage LPs in North America. It operates or owns interests in more than 26,000 miles of pipelines and 170 terminals.

"Preferred stock has been much in the news over the past 18 months, primarily as the favorite way for cash-strapped banks to raise new capital," explains Mark Salzinger.

In The Investor's ETF Report, he says, "These unusual securities are popular because they offer high yields and have a higher position in corporate credit structure than common stock." Here, he offers a pair of favored ETFs that invest in preferred shares.

"We caution that preferred stocks also have significant drawbacks that dampen their appeal. Apreferred stock is really more like a fixed-income instrument than an equity security.

"Think munis are a risky deal?" asks income expert Neil George. In his Stocks that Pay You, he states, "Don't. Instead, buy them now."

However, rather than buying individual bonds, the advisor suggests that investors focus on buying closed-end muni bond funds. Here, he looks at a trio of favorites.

"The muni market isn't for the uninformed or the novice. Unlike the treasury market and much of the corporate market - when it comes to munis - you have to know each bond inside and out before you buy, and keep tabs on it after you buy.

"We are at the early stages of witnessing a transformation of wireless activities away from voice and towards data for both personal and business customers," says says Ian Wyatt.

In his The Recovery Portfolio, he explains, "This portends great things Verizon Communications (NYSE: VZ), which has the best wireless network in the U.S. (For more on Verizon, see my recent post, The Safest Dividend in the Dow.)

"Verizon provides wireline service to 35 million access lines and 87 million wireless customers. It recently picked up 13 million of these wireless subscribers upon completion of its $28 billion purchase of privately held Alltel in January.

"My investment thesis for Verizon is all about growth in its wireless operating segment. Smartphone penetration, which is more profitable for Verizon, is still small and growing very rapidly.

"Following last year's dismal market performance, investors are looking for something they can be sure of in the year ahead; and for income investors, that means finding a safe and rewarding dividend yield," says Carla Pasternak.

In her High Yield Investing, she offers a fascinating review to find the "safest dividend in the Dow." Here's her assessment.

"The 30 members of Dow Jones Industrial Average represents some of the strongest names in America. So these corporate titans are a good place to start searching for the safest dividend.

"The first step in the process is not to look at the Dow at all, but to start with the 10-year Treasury note, currently yielding 3.86%.