And I began investing at a very young age with an eye towards early retirement. Therefore, my basis in most of my stock is well below its current value.

When the market dips, or even tanks, it is painful but doesn't impact the income I receive. That would only happen if a company cut its dividend significantly, which is rare if you stick with high-rated, historically well-performing companies.

My rules for investing mirror my rules for financial living:

1) pay a full-tithe and be generous in offerings
2) spend less than you bring in
3) invest your excess - for growth when you are young, for income when you are older

I still draw way below the dividend income of my investments and re-invest the amount not taken out. It will get a little more complicated when I reach that age when I am obligated to take more from my 401-K, but even then I will reinvest.