Should Retirees Use A Total-Return Or Income Portfolio?
Total-return investing focuses on building diversified portfolios from stocks and bonds to seek greater long-term investment growth.
By focusing on total return, the objective over the long run is to produce a greater and steadier amount of income relative to what could be obtained by investing for income by focusing solely on interest and dividends to support spending without the need for principal drawdown.
Pfau, Wade D. PhD, "Should Retirees Use A Total-Return Or Income Portfolio?" (2017). Faculty Publications. 762.