"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.

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Bank bets for income investors originally appeared on BloggingStocks on Fri, 14 Aug 2009 14:20:00 EST. Please see our terms for use of feeds.