Howdy all. I've been looking into the notion of bit by bit picking up some solid dividend stocks for long-term holding onto. I've got an (what may be dumb) idea of buying some well-performing, stable dividend producers to supplement retirement income (looking at ~30 years vested in a defined benefit pension plan + somewhat-neglected Roth IRA rolled over from my retirement account from previous employment + Social Se...nevermind that last one). The crux of the idea being that I identify a handful (maybe 5 or 6) that have a good dividend track record with the potential for splits, buy a few shares each month over the next ~20 years, and keep reinvesting the dividend money into buying more shares too. Examples of stocks that some light digging around has brought to mind are EMR, MMM, HRL, etc. Nothing too flashy or exciting, as my IRA is positioned for more aggressive growth so that angle's pretty well covered at this point, I'd think. Basically, this obviously wouldn't be a primary income stream in retirement...more like a stable bumper crop of beer money when I retire to Costa Rica, perhaps.
Am I crazy? Daft? Might the VN Stock gurus have any recommendations?