If you’re nearing retirement, or planning for the future ahead, saving up for your retirement is always a smart move. These are many finance savings instruments in the investment market these days. Income fund plans are one of the most beneficial, especially in terms of long term goals.
Saving for your retirement doesn’t need to be a chore; in fact, it can be pretty easy if you take the right steps.

These five popular income fund plans are categorized on total returns, return consistency, capital preservation, and low expenses.

First Trust Morningstar Dividend Leaders Index (FDL)
With a 20.27 percent 3 year annualized total return and a 3.22 percent 12-month yield, this one of the popular ETF plans. It ranks within the top twenty-two of the U.S. News Best Fit List. First Trust Morningstar Dividend Leaders Index usually invests 90 percent of its total assets in common stocks that comprise the index, which is tracked by the FDL.

iShares Dow Jones Select Dividend Index (DVY)
This plan offers a 3-year annualized total return of 21.06%. DVY helps track the iShares Dow Jones Select Dividend Index which comprises of the 100 highest yielding stocks in the Dow Jones U.S. index. This is screened for various criteria such as dividend per share ratios, five year average payouts and minimum daily trading volumes.

Nicholas Equity Income I (NSEIX)
This plan is ideal for those who aren’t thriving risk takers and have low tolerance for high risks. Typically best suited for those who’d like conservative growth and fixed income on their returns in the long-term for their retirement plans.

PowerShares HY Equity Dividend Achievers (PEY)
Hailed as one of the best income fund plans since the financial crisis, PowerShares HY Equity Dividend Achievers takes a contrarian stance. Its expense ratio makes it a big premium in contrast to other popular dividend strategies in the market.

Vanguard Equity Income (VEIPX)
If you’re looking for consistent and above average returns on your dividends, you’d be happy to know that the Vanguard Equity Income Fund (VEIPX) invests in the stocks of medium and large sized companies.

Typically, the stocks they invest in return above-average dividends in the stock market’s industry. They also tend to use multiple financial advisors and keep up-to-date with the market inflation and other financial crises to ensure consistency in their returns. If you’re looking for something safe, consistent and for a plan that offers quality investment options, then this plan can be right for you.