That seems to be the majority opinion at bogleheads- well, opinion supported by stats- that although it is psychologically pleasing to want to live off dividends, it is total return that counts. And yes, you can always sell shares for income.tarentola wrote:On Seeking Alpha, Eric of Servo Investments has written a series of articles in which he makes the point that total returns over time are maximized by investing in globally diversified equity types (see list below), and each year taking income from the winners, or from your short-term bond investments if there are not enough equity gains.
It's a point that Larry Swedroe (of the "larry" portfolio) drives home often.