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For retiree, dividend matters more than stock price (access required)

DEAR MR. BERKO: I retired at 55 in 1997 and moved my $460,000 401(k) to an individual retirement account to be managed by our broker. By late 1999, my portfolio had increased in value to $605,000, so we took out $4,000 a month – about $3,000 from appreciation and about $1,000 from dividends. Then, in ...

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