EMO
ClearBridge Energy Midstream Opportunity Fund Inc.
stock NYSE Closed Ended Fund

Age is not a factor in your decisions Some young people don't have the risk tolerance for growth investing. Dividend investing is better for those with low risk tolerance . And for some people there financial future it better if they invest in dividneds when young to Each person has different income, jobe security and financial needs so ther is no one size fits all investment sratagy. And not MLPs generate K1 tax forms that can complicate your taxes. And you don't want to hold them in IRA or a roth. They could creat a taxable hit in the roth or IRA. You can avoid the K1 complications by investing in fund that invest in MLPs. I USE EMO 8% YIELD IINMY ROTH AND Taxable account.
ET is an MLP (master limited partnership) They make money processing and moving oil and gas through pipelines. They are required by low to pay out most of there income as dividneds. Although it is a small sector of the economy it is in general a profitably sector of the economy.
The only real reason growth would be better is because growth always does better in a bull market than dividned funds. But in bear market (the last bear market ended about 15 years ago dividneds generally do better then growth. Now when you recieve a dividend you owe tax on that income. Growth index funds are very tax efficient due to the very low to zero dividend and the fact most just hold the funds without selling which also generates taxes. But MLPs in the US generate qualified dividends which are taxed at much lower rate than bond, savings account interest.
Now the best portfolios are ones which are diversified. Many growth investors believe they are diversified but by focusing on growth they exclude much of the market that generate dividends, bonds, and debt obligations. Which means portfolio performance suffers considerably during a market crash or a sideways market were there is very little growth for a long time.

Age is not a factor in your decisions Some young people don't have the risk tolerance for growth investing. Dividend investing is better for those with low risk tolerance . And for some people there financial future it better if they invest in dividneds when young to Each person has different income, jobe security and financial needs so ther is no one size fits all investment sratagy. And not MLPs generate K1 tax forms that can complicate your taxes. And you don't want to hold them in IRA or a roth. They could creat a taxable hit in the roth or IRA. You can avoid the K1 complications by investing in fund that invest in MLPs. I USE EMO 8% YIELD IINMY ROTH AND Taxable account.
ET is an MLP (master limited partnership) They make money processing and moving oil and gas through pipelines. They are required by low to pay out most of there income as dividneds. Although it is a small sector of the economy it is in general a profitably sector of the economy.
The only real reason growth would be better is because growth always does better in a bull market than dividned funds. But in bear market (the last bear market ended about 15 years ago dividneds generally do better then growth. Now when you recieve a dividend you owe tax on that income. Growth index funds are very tax efficient due to the very low to zero dividend and the fact most just hold the funds without selling which also generates taxes. But MLPs in the US generate qualified dividends which are taxed at much lower rate than bond, savings account interest.
Now the best portfolios are ones which are diversified. Many growth investors believe they are diversified but by focusing on growth they exclude much of the market that generate dividends, bonds, and debt obligations. Which means portfolio performance suffers considerably during a market crash or a sideways market were there is very little growth for a long time.

Eventually the 15 year old bear market will end. And when long bull markets ends a bear market will take over and history has shon that long bull markets are followed by long bear markets like 20000 to 2010 were there was essentially no growth for about 10 years. The current tariffs and inflation guarantee a recession will eventually start and that can trigger a bear market.
MLPs are companies that run oil and gas pipelines and refineries that are required to pay out most of there earnings as dividneds. So they don't have a lot of gowtth but pay a heatlthy dividned. One problem with MLPs is they generate K-1 tax forms which complicates your taxes and can generate tax within a Roth or IRA. However if you invest in a ETF or CEF fund that invest in MLP the fund takes care of the K1 tax forms so don't report any K1s in your taxes and avoid all the tax complications.. I have EMO in my taxable and Roth for MLPs and it has a tax efficient 8% yield. EMO should generate impressive earnings in a bear market when index funds may not produce any gowth.

Dividned investing is much better strategy. I currently get enough dividneds to cover my 5K a month living expenses and with excess I can reinvest to compensate for inflation, I am not selling any shares for this income.
The problem with the 4% rule is your are selling stock for income. Which means you willl eventually run out of stock to sell ieven in good market conditions. In bad market conditions like 2000 to 2010 the average S&P500 return for eac of these 4 years was less than, 4?% Factoring Sequence of return risk from selling shares at a loss for 10 years, inflation, and the yearly increase in sales to adjust for inflation 4% rule is just bleading your money away. Now many address this issue by adding bonds , typically government bonds to the portfolio. When these are very safe they only returned about 3% during that period. So they didn't stop the bleeding. They just slowed it down a little bit.
With dividned investments you can easily get a dividend of 6%. Double the long term inflation rate And safe yields of 8 to 10% are also available. I have income from QQQI 13%, SPYI 11%, KGLD 11%, EMO 8%, UTF 7%, UTG 6.8%, PFF 6%, CLOZ 8%, PBDC 9%. And only 50% ion my portfolio is invested in these funds. The rest is in growth index funds. I live off the dividneds and reinvest any excess invome to compensate for inflation. The growth will also be used to compensate for inflation buy selling 4% once every 4 years. this is 1/4 the 4% rule and all that income will be reinvested for more dividneds.
There are dividend investsthat have been paying dividned for a very long time ADX 8% yield is 97 years old. FAGIX 5% for 45 years. But wait isn't the maximum safe yield 4%, No. yields depend on the company and how they make money. Oil companes classivfied as MLP routinely generate 6 to 7% yields, BDC 9% and unlike most companes mLP and BDCs are required by law to pay a dividned. investment funds that invest in loan obligations or corperate bond preferred stock routinely pay 6 to 7%. or more.

I have relative 90 years hold still in good health She retired with a pension. However last year they cut the healthcare benefit and the income has not been keeping up with inflation. A reverse home mortgage has helped and her kids are also helping out.
Morral of the story is you don't want to rely on the Pension. You likely don't have enough money for SCHD to help you oer your kids much. Its yield is actually lower than the interest , from money market funds and current inflation rate Yes SCHD has growth but at this point in your life you want supplemental income EMO 8% yield, CLOZ 8% , UTF 7%, UTG 6.8. And PFFA 8.5% are all good steady sources of income and they all earn more than the rate of inflation right now. And you can add covered call funds like IWMI 14% yield, QQQI 14%, SPYI,12% for your kids. Add money to these funds and if needed you can use the income to support yourself or let it compound for your kids. And you can leave some money in growth index funds for emergencies

this gets my juices flowing, 100%+ profits you sir are a patient investor, are you waiting a time frame for it to get there or just follow momentum, i can see my portfolio growing to 20-30 stocks and then either culling at stop losses & adding to positions that are generally going up or i've got a little attachment too or like the story of (EMO fucker I can be) still figuring out how to take a profit I'm in the business of just staying/rolling when the profit is coming in but a tight ass in nature so usually just prefer to save my money (not spend it) hope that makes sense.