One of several questions in life whose answer seems illusive: is it genetics or nurturing that determines a child's outcome? Is passive or active management better for income investors? Let's look at my experience.
I understand the time it takes to manage your own stocks. Therefore, I recommend young investors use quality low cost ETF's like SDY, SPY and VIG until they have time to learn how to manage their own stocks. I am not a fan of mutual funds including target date funds.
Look at the last five years of investing in dividend stocks for income by selecting your own stocks versus investing the same amount in SDY an ETF that concentrates on growth stocks that pay good dividends or VIG that concentrates on dividend stocks that grow their dividends. If your measure is income, this five years of experience shows that investing in your own portfolio of between 20 and 50 stocks will deliver better income than sticking with SDY or VIG when you retire.
Keep it simple!