I will be buying my annual limit of Treasury I Bonds in a couple weeks. The real rate of return is likely to be zero, but that is significantly better than the APY in savings accounts, where the real rate rate of return is negative. Every month the value of each I Bond increases, and payment of interest and principal is backed by the full faith and credit of the United States.
At my stage of life, preservation of capital is a more salient goal than growth. The entire long-term investment portfolio includes diversified equities as well as fixed income (about 50:50). I don't foresee buying more equities, unless the prices are considerably lower.