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Plans for the long haul - 20+ years

I really need guidance from the experts here, especially the ones that have invested continuously in the markets here for the last 20+ years. Here are my thoughts as a novice investor. Please correct me if my ideas are flawed.
I am kind of new to this market. Have been reading on markets some, but have a lot more to learn. For the long haul, I have come up with the following strategy:
Some ETFs that give me a decent dividend yield like PFF, HDV, FDRR, IDV, FREL, FUTY- invest a portion of $$ in this religiously regardless of market trends. even if the market goes down, you will still have a good dividend yield.
Sector ETFs like FNCL- with banks going up in a rising interest rate environment, I get appreciation of capital more than dividends.
With a combination of capital appreciation and dividend yield, do I have to fear anything else in this kind of strategy if I don’t need the money for the next 20+ years?
20 years? Don't get too wrapped up in sectors and yield. I would go 80+ wide market, remaining 20% international, RE, sector ETF's if you like.
When this sum gets substantial, investigate investment approach/style/process diversification.
I recommend you read Dividends Don't Lie by Geraldine Weiss and Little Book Of Common Sense Investing by John Bogle. Think about asset allocation and growth stocks as well as dividends.  I want growth as well as dividends in a company I believe in, with good prospects.
Although others may disagree, I recommend diversification between asset classes to protect your nest egg .And a close watch on expenses of the fund or etf.  I consider the fixed income investment as ballast that enables me to take more risk.
Some dividend payers area good for income but do not grow much.  So you need growth as well as income, even as dividends are reinvested.
Now regarding the strategy of investing thru thick and thin , also called dollar cost averaging, I agree within limits.  You still have to keep an eye on things, like management, fundamentals, etf/fund composition, etc.  And not get derailed by the shorter term trading side of the market.
Once again, I'll chime in for a broad based approach.
The VTI is one example.

Fidelity Monitor and Insight were very useful to me when I started out.

If you're working full time with a family and still saving/investing, you will become educated over time.

Many here, including me, now have plenty of time to spend analyzing and tuning our investments.

25 years ago, with family and activities of life, no way.

Remember to enjoy the journey, money and investments are not the goal, they are one result.
Balance your life the way you would balance your investments.
Even before you ask about being a novice investor,  you need to be financially ready to be a novice investor.
**   Is your credit card debt always paid off fully every month?  If not do that first.
**  Do you have an emergency cash stash?  You do not want to have to raid your investment portfolio if you are out of work for a while.  start building an emergency fund before you start investing, and continue giving it equal priority and funding once you do start investing, until you reach a reasonable amount for your situation.
**  Identify your investing objectives (and to a lesser extent, your goals)  Are you investing for future retirement?  future supplemental income? buying a house?  college for the kids?  other?  Your objectives will influence your style and your investing vehicles.
Assuming you get past those gates, and that you're talking about retirement funds, since you say 20+ years,  then I couldn't agree more with rhythmkats.  

100% in a US total market index fund until you've got at least (pick a number, I'd suggest $10K) in it.  Then new money 80% to that fund and 20% diversify international and/or sector focus (as funds) until you've got at least (pick your number, I'd suggest $50K)  Then add a stock or 2 within that 20% focus area if you wish until you've got at least (pick your number, I'd suggest $100K).  Once you've got that floor in place (and if it takes 10 years, it takes ten years) then think about getting fancy, if you wish.  If you can't stand waiting that long, take 5% as speculation (not investment), and play with it as you wish.  Buy stocks, buy lottery tickets, go to Vegas (or Atlantic City or your local casino,  It doesn't much matter, they all have about the same chance of winning. 

The one exception for single stock ownership is if your employer provides significant subsidy for company stock to employees.  Some offer 15-20% discounts, more or less as a replacement for pensions they no longer offer.  Take that if it's available.
I thank you for taking the time and advice. Yes to all your questions.. took care of debt first including mortgage and have a fair net worth, only financial education missing which I am thankful for forums like this one with good folks like you that guide.
Long haul 20+ years your first priority should be maxing out your retirement plan contributions (401K/IRA/Roth), especially if you have an employer's contribution in a 401K.

Dividends fall short in the long run in my opinion compared to other options. They're more important after you retire to have an income stream to live off of, but right now you should be thinking long term growth. Have a look at how a $10,000 investment in PFF would have performed over the past 10 years with dividends reinvested, compared to VUG, Vanguard's growth ETF, as an example. The earning from VUG ($17,877.22) are over 3 times more than the earnings from PFF ($5,788.14). And these numbers include the period of the great recession and this past week's drop.

My personal preference for a 20 year time frame would be

60% in a good growth-oriented fund like VUG, IVW, FBGRX or TRBCX

25% in a broad market fund like ITOT or SCHB

10% in a broad international fund like IEFA or VXUS

5% in an emerging markets fund like IEMG

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