Just over 20 years ago, I was the subject of an article on dividend investing in Kiplinger's Personal Finance magazine. At the time, I believed that by investing in companies that reliably paid and increased their dividends, I could build up a nest egg that would eventually cover my costs of living from dividends. These days, I still appreciate the power and benefits of a growing dividend stream, but I now plan to use dividends to help maintain my bond ladder, rather than directly spending them in retirement.

The reason for that shift in mindset is simple: As awesome as dividends are, they are never guaranteed payments. When it comes to covering my retirement, I want something with a bit more certainty for the money I need right away. Still, I certainly do still appreciate the dividends I receive. After all, the ability of dividends to potentially grow over time -- and the fact that they get paid based on the health of the business, not the whims of the market -- make dividends a wonderful investing tool.

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