Hi MTR - As you might know from my previous posts I hold a significant amount in an Australian Vanguard high yield share managed fund. The fees are extremely low, the fund holds about 40% in the banks and other high yield, blue chip companies. All the details are in the prospectus. Dividends are paid every quarter and its really nice to see income coming in without anything going out.
I drip feed automatically on a monthly basis set up on Bpay. As China says if I see a headline adverse to shares and they drop 1 or 2 % I will go to BPay and inject a bit more. It couldn't be any easier. I would eventually like to see a weighting of around 50/50 with shares and property. It really is a boring, tried and tested strategy - won't make you rich over night but the discipline of dollar cost averaging over time and reinvesting all dividends into the fund has paid off for me. I also hold half in wifes name and half in my name to minimise tax once I stop full time work.
I'm very interested how you and others approach this as it forms and will form a greater part of my wealth moving forward. I'm actually thinking of opening up a more balanced/conservative Vanguard fund with a mix of shares, bonds, property etc as I get older and want to protect my capital.
good luck - it appears you don't need it!