Bar1080, There's definitely something to be said for a strategy of buy/hold forever, especially if you're young and adding additional money regularly into the market via dollar cost averaging. With buy/hold you avoid the problem of market timing, and avoid the capital gains taxes associated with trading.
For older retirees a buy/hold forever strategy could also work well, assuming your allocation percentage in stocks is appropriate. You could just ride out stock market crashes while continuing to collect the dividends. While companies can reduce or eliminate dividend payments, that risk is minimized by sticking to the most solid companies, like those found in the Vanguard High Dividend Fund/ETF.
Vanguard is really unique in the financial world due to their ownership structure - the investors in Vanguard funds actually own Vanguard. Bogle pioneered the no load fund concept and also indexing, and the entire business model was unique. Their ultra low fee structure also means they can have less risky assets in the fixed income funds since they don't have to overcome the usual high management fees.
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