Keep in mind, along with higher income comes higher risk. You need to ask yourself "Can I afford to lose it all?" The experts recommend you only go high risk with money you can afford to lose.

Don't think anyone knows the answer to that one. At this point I would say dividend paying stocks is probably the only option for my situation. Yours could be different.
I have seen a few financial planners recommend the purchase of an immediate annuities when your resources may not be adequate to meet your income needs. The idea is you purchase the annuity x years into retirement because inflation has reduced the value of your pension and your assets would have to be invested in high risk investments to earn enough income. This could be something to consider down the road. I do not think you would want to buy an annuity until interest rates increased. Annuities can be expensive so be sure to shop (try Vanguard and Fidelity to start) around and maybe hire a fee only financial planner.

Bought more T today (10/10) at $28.85. Pays 6%.

T ?
 

What is "T"?

Thanks.

AT&T, my favorite.

Dividend.com has AT&T and VZ in their top 20, best ranked
stocks. I have the VZ shares, with a dividend of 5.4%

Also consider MO and PHT for a dividend portfolio.

I've got them both. I have several times bought T when it goes way down to a point below what my average cost per share is and bought some more. This lowers my average cost per share and makes the dividend more attractive.

My dividend investment strategy
 

1. Never, I say never invest more than 12% of your funds in any single stock. Trust me on this no stock is immune to a disaster. I don't care if it has done fabulously for you - it is a weak link.
2. Use dividend mutual funds to diversify your risk. Including interntionall dividend funds.
3. If you like utilities be warty of electric companys with nuclear power. Anyone really know how to dispose of an old reactor or fuel? if you still must- remember rule number 1. Yes I know there are some great cos w/nuclear (just think unlimited operational risk)
4. If you are running to the Internet every day to check your stock prices - find a new hobby. The market gyrates with every politicians sneeze. Even if you are 70 invest like you are in for the long haul. I have seen several crashes in my life and watched my friend panic pull out and lose their shirts. Had they rode it out well they woul be fine.
5. If you are worried about inflation (and you should be) and you have fixed instruments. If you can move some money to the market.
6. Understand the business you are buying and look for firms with established track records.

Good advise Ray. I would add one more thing. No one and I really mean no one beats the market long term. It is not possible. Everyone of us can claim we did for 3 years or a few maybe 5 years, but anyone who tells you they are ahead of the market long term is telling a lie or is an inside trader. Even Peter Lynch who did it for several years running will tell you he got out because he could not continue to beat the market.

If you believe the above, the only investment that makes any sense is the lowest cost mutual fund that is a total market index fund. I do everything possible to match the total market in low cost index funds. I use only Vanguard (lowest ER) index funds. Total stock market, Total International and Total Emerging markets and Total Bond. And yes I to play trying to beat the market with dividend stocks and a couple ETF's. But for the major part of my investments I use index funds and try to map to the world markets.

I also have an IPS (investment policy statement) that has a few triggers to move in and out when things go way down or way up, but I stick to my AA (asset allocation) re-balance at certain trigger points, and stick to my plan.

And once more, no one beats the market long term. It has been proven many many times.

My Financial Advisor believes dividend stocks are the way to go. However, there are some that want to raise taxes by increasing the tax you will pay on your dividends. Wonder who?

For those of you enjoying your dividend paying stocks be prepared for the beginning of a long drop unless the party in power renews the tax cuts. Today stocks trading at $100 and paying a $10 dividend return $8.50 after tax (15% tax.) On January 01, 2013 the dividend rate will rise some 43.4% because the 2001 Bush tax expires and in addition ObamaCare adds an additional 3.88% on all forms of investment income So come Jan 1 investors won't keep $8.50 but rather 43.4% less or $5.66 meaning a stock yield will move from 8.50% to 5.66% Experts predict investment returns will be lowered by 30%. That will teach us 1%. Oh I am a 99% Hmmmmmmmmmm

Agree on Verison being on the list would also include EPD enterprise products partners and check out GABUX Gabelli utility fund. It pays $.07 per share per month and shares trade at $5.75 (14.6% div)

Those that like to spend.

And there was the promise that those making less then $250,000 wouldn't see one penny increase in taxes.