Having a dividend yielding portfolio is quite healthy as even the market might not be so good, you should still get steady returns from it. And how I look at it is like this - if I get few good years of dividends, I cover my investment and the rest is a free ride. And if the stock price also grows, that's much better.
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That's true, again everyone's portfolio creation process is different. And for me the mix is what I am aiming for.