Do I have the right investment approach??

over thirty years ago I became disabled in a bad car accident, the insurance settlement came to a little over one million dollars, which I have always invested in bonds, which at that time still yielded almost 20%, I always have held them till maturity, now a days I still buy bonds, or rather bills, I guess my question is, is buying short term with low yields, and buying long term when yields are high, a sound investment approach, I need the income from those bonds to live on.

please, no quick bucks artists or sharks.

Well, you've taken a very conservative approach, which to some extent is ok if this is your only source of income, but today you aren't even keeping up with inflation with bonds or treasury bills. You should talk to a financial analyst maybe, call Smith Barney and sit down with a guy and show him you're entire financial picture. You would probably be better off today putting some money in mutual funds, which are very safe and at least take a chance on making some good interest.

You seem to have done a pretty good job so far with your investments... 20% yield in any bond isn't a bad deal at all !!!.

However, may i suggest you another idea? I'm not sure if you're familiar with the concept of Mutual Stocks. There are stock brokers who offer a specific stock portfolio for which lets say... 10 investors like you give money for... these are high-yielding stocks... and even though there are many investors, the interest yield goes for all the money invested which means the actual yield is much higher than when you would invest in stocks yourself....

I haven't had any experience with them personally, but a professor of mine strongly recommends this type of investment.

Maybe you should consider them as an option ...

Consider investing SOME of your money in Canadian oil trusts.
These are stocks that are currently generating 12-15% in annual dividends.
Due your due diligence before investing in ANYTHING.
Some ticker symbols to check out : PGH CNE.
Good luck

Because you are dependent on the settlement money for your income, I think you are correct in having a conservative approach. But these days, I'm guessing you're not getting an interest rate that will sustain you in the years to come.

I would put some of the money (maybe 20%, or 10% if you are nervous) in stocks, and I would do it in a low-cost index fund (such as the ones offered by Vanguard or the Fidelity Spartan line.) Hidden broker and sales fees can really destroy your profits dramatically, and index funds outperform managed funds over time. Check out John Bogle's book, The Little Book of Common Sense Investing for more information.

If you do choose to use a financial advisor, make sure you use somebody who is fee only. If you turn your money over to somebody whose investment choices are influenced by what is paying a good commission, his gain will be your loss.

Good luck!

No.

You really should invest in Stocks. (With the help of a Portfolio Manager with over a decade of experience in the Stock Markets like myself)