bilperk:

Retirees who are withdrawing money from an income fund live on yield payout and payout growth.

Where will the payout growth come from in VTINX?

best,

Bill

I think a pure indexer is relying on price appreciation.  Like Benj. Graham says, if you're going to rely upon "growth," the price at which you purchase is critical.

I like the idea of the folks at Wellington and D&C generating CG's.

Greg