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I'm looking for a similar diversified portfolio but leaning heavily towards income. Has anyone seen something like this?

I see it every time I look at my brokerage statement ;)

I started with the Dividend Champions spreadsheet that dfish uploads onto the Dividend Growth Investing page here at the Fool. Then I took a short term subscription (again) to Valueline and picked a bunch of stocks and printed them out.

Then arbitrarily I knocked out a couple of companies I don't want to have anything to do with (tobacco, for instance, which helped me wreck my lungs). Then I looked at P/E's and all that falderall, and then I bought a healthy slug of those that were left.

At the time the payout was well over 4%, although since prices have risen the "percent" will probably be a little less now. I don't care, I'm not after "yield to get rich", I'm after "reliable dividend stream to live on" which is what I have.

I avoided MLPs because I had two a decade ago and it was a nightmare at income tax time. I have Reits only in the healthcare field, which I think will hold up even in recession, and the rest are corporate stalwarts, good reliable dividend payors across many many years.

We also have a few non-dividend payers left over from previous investing strategies and which I do not want to cash out because of tax implications (BRK is one that comes to mind quickly) and I have a couple of non-dividend payers that are just there for fun (Facebook, which I got at $17.)

But yeah, you can avoid all the muss and fuss with a couple of ETF's; there are many which are oriented towards income and which give you tremendous diversity, although in any market swoon - as we have seen - they all seem to swoon at once, eh?
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