Higher interest rates are bad news for borrowers because they're paying more money to borrow money. However, higher rates benefit savers and investors because they can earn more investment income. Many bank CDs and bonds currently yield more than 5%, while several top dividend stocks pay even more.

Energy Transfer (NYSE: ET), EPR Properties (NYSE: EPR), and  (NYSE: VZ) offer payouts yielding over 7.5% these days. That could turn a $1,000 investment into more than $75 of annual income. Meanwhile, unlike fixed-income investments like CDs and bonds, this income should grow in the future.

Energy Transfer's distribution currently yields 8.8%. The master limited partnership (MLP) backs its payout with rock-solid financials. It generates significant recurring cash flows supported by long-term contracts and government-regulated rate structures. That allows it to produce very predictable and stable cash flow no matter the market environment.

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Source Fool.com