I am 65 years old. I have been been both managing my portfolio and managing to live off of the capital gains and dividends for the past twenty years. My average yearly return has been 17% over this period. Constant vigilance, hard work and a lot of luck contributed to the results. Now that Social Security has kicked in, albeit not nearly covering my expenses I have decided to cut down both the time and intensity of my efforts. I am willing to give up the home-run stocks that appreciate 1000% although, I must admit, some lucky picks did goose my long term performance. I am now seeking a less volatile portfolio with a goal of returns of 10% a year. I am focusing on a core portfolio of "Quality Dividend Achievers" which are dominant in their industries, have A balance sheets and most, importantly, have raised their dividends for 20+ years. This is the increasing dividend stream section of my holdings. The other element are the "High Yielders". The key to this is that even if dividends don't grow, at least they won't be cut. Of course, no one position can be too large as, inevitably, some will be crash and burn. Losses can then be minimized. If any company in the Quality camp stops raising the dividend, it is sold. Likewise if a High-Yielder cuts the dividend it is sold.
I am a medical professional schooled in the ways of Graham and Buffett. I also subscribe to many of the great Peter Lynch's ideas, outlined in his classics. Everything I have learned has been through self-study and this wonderful site, and the outstanding articles and commentary posted by the users. My investment strategy focuses, as you might imagine, on value investing for dividend growth. I am diversified across industries, and have an aversion to placing my money in the hands of financial advisors, however well-trained.