Hi Ears:
I thought it an honest and honorable conversation - a swapping of ideas, with someone I respect and always enjoy hearing from. In the end, as I mentioned way, way back at the top of this thread - in this particular tug-a-war, thrust and parry of ideas between Growth and Income investors seldom is either side much assuaged less convinced by the other. For me Its not unlike standing on a glacier that is splitting with a foot firmly on either side: I am a Growth investor first and foremost. Income investing interrupts that but years ago I made it an absolute necessity. Why?
The Income port was created for that exact reason - my wife left with ease of living when the good Lord decides he has had quite enough of me. And Safe Harbor? Why… Her first order of the day is: Immediately sell the Growth Port. Because - the Income port has grown to be several times greater than what is annually needed and again -Safe Harbor - being the status that if half the company’s in the port…fully half… went belly up, eliminated their dividends she would not be impacted one single bit. Not a single hair on her head would be economically distressed. Not even if the remainder cut their dividends in half. Well almost - not counting savings accounts, real estate and insurance benefits. All part of a family plan thunk up and through and built piece by piece over decades of work.
Having achieved that goal over almost a decade of compounding, I cannot imagine anything short of the total collapse of our system where such an event occur. And that is the life raft - the parachute I reasoned - for her. Nothing more - nothing less.
Personally I couldn’t care less about income investing: it’s boring, bland repetitious and totally without appeal. But it is the one reason - the sea wall against the storm, the dike against the dam breaching - holding back the flood which allows me to be as nonchalant and reckless in my Growth port as I am.
Simple as that.
All the Best,
BDH Investing