Short version...Rich has been investing since 1973, and over the past 39 years has used several of the most popular strategies. As a retiree, he invests in dividend-paying stocks bought at fair value or below, for their attractive total return with lower market volatility. He is now a Growth & Income investor.

He also recognizes there are many successful strategies that offer a good fit for investors of various ages, interests, and risk profiles...and that all strategies will have periods of out-performance, and under-performance. He had found dividend-paying stocks (including a mix of traditional dividend-growth stocks, high-yield stocks (including also REITS and BDCs) work best for his retirment as he ... More seeks income and lower volitility, along with moderate price growth...together, these stocks produce a portfolio with an attractive Total Return.

Longer version…Since 2008, Rich has become a strong supporter of dividend-paying stocks, and especially recommends them for investors positioning for retirement, in retirement, and ANYONE who cannot/does not CLOSELY follow the economy, the market, and stocks. A diversified portfolio of dividend-growth stocks and high-yield stocks offers a growing income and lower volatility, and thus provides a more consistent Total Return (sum of price change + dividends)...but 'market-beating' returns will be rare events for an entire dividend-portfolio because such a strategy means giving up the high-beta and high p/e ratio stocks that (sometimes) shoot-the-lights-out...however, out-performing the market with this portfolio in down markets is quite likely.

In addition these stocks provide SWAN (sleeping at night)...an especially important attribute to retirees, and others with a low-risk profile.

Still, there is no substitute for monitoring each stock for any news or ‘market chatter’ indicating a potential problem affecting its earnings, dividend, and valuation. Holding dividend-paying stocks lessons the need to monitor, but only modestly. Those who are unaware their dividend-stock might cut its dividend, and thus hold through the announcement, will suffer much greater losses than those who sell early and move on to better tasting fish from the sea.

Rich readily admits to having built greater returns faster when he was investing in growth-stocks, foreign / emerging / frontier markets, and commodity stocks. He made 3 small fortunes while chasing growth and other hot stocks...and twice (1987 and 2001) he lost 50% or more of his portfolio (thus they were no longer 'small fortunes'). Fortunately, he correctly read the moving averages, and sold many of his high-beta and high p/e stocks in mid-2008, and before the worst of the market's crash, thus perserving his small fortune--which he than converted to dividend-paying stocks and has built to his greatest net worth ever...and now has a far smoother ride.

Thus Rich now invests exclusively for income with modest growth. Later this year, Rich will take his first Minimum Required Withdrawal from his IRA (this portfolio). Adopting a "build an income stream" strategy via dividend-paying stocks has provided the opportunity to take his MRD from his dividend income, rather than selling stocks to raise cash for the MRD. The MRM's formula takes increasing large bites from IRA balances, but his dividend strategy will keep him ahead of needing to sell stocks for many years.

Reading about the economy, markets, and stocks, occupies much of Rich's time. Having been blessed by years of excellent investment returns, he and his wife are avid world travelers and have covered 1+ million travel miles to over 50 countries over the last 30+ years (the Taj Mahal is reflected in his sun glasses). Being self-directed Investors has blessed their lives beyond anything they could have imagined.

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p.s. If you have labored this far, you have won a valuable tip: Never, ever, allow yourself to display your naivety with a phrase like "I just love my JNJ", or "I love my PG"...don't ever fall-in-love with your stocks. Stocks are THINGS…things can’t love you back. Never allow yourself an emotional attachment to your stocks (you already know emotions clouds judgment). You have a tool box in your home or garage, and inside you have a hammer and an assortment of screwdrivers. If a tool is broken, you replace it. Do the same with a broken stock!

If you are a real investor, you will both monitor your holdings closely so that you know when one is damaged...and thus you will be able to replace it at a better price BEFORE it is completely broken. Remember, there are always many tasty fish in the sea.