An investment technique whereby investors (or portfolio managers) purchase multiple financial instruments/ products with different maturity dates ordered in a staggered manner (as a ladder), i.e., from those with near maturities and all the way up to furthest maturities. An example is a portfolio of fixed-income securities (e.g., bonds) that is constructed using a pattern of rolling maturity dates for the securities held. Laddering may involve different types of instruments: bond laddering or laddering a stock.

In another context (retirement planning), laddering is a method for reducing interest rate risk and reinvestment risk for retirees. Annuity laddering is designed to eliminate the risks associated with inflation and changing interest rates. It allows a retiree to live off of income, while being able to convert to a combination of interest and principal in order to improve annual income.