In this episode I’ll show you how I make $150,000 US dollars per year in passive income from dividends. I’ll start with a look at my portfolio in Fidelity, then share some interesting dividend charts from my spreadsheet tool, and finally explain some of the strategies I use when analyzing covered call ETFs, including why some of them strike me as feeling like Ponzi schemes.
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Timestamps:
00:00 Intro
01:49 Why I made some changes to my portfolio
03:46 My dividend portfolio in Fidelity
07:06 My dividend portfolio in my spreadsheet tool
14:41 Some helpful ways to analyze CC ETFs
22:08 Shoutouts
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I don’t know if you really were going to recession part of me thinks so in the next year but I hope not. I know you’re not gonna be able to get well, but I hope you’re doing good right now.
Poor people can't invest. It's like the lottery. It keeps Poor people poor
Covered call etfs ,i think, are the future to every portfolio finding the right percentage is the key and how it works for your needs. Im presently at 40 % high income( yield max) to more conservative like jepq to spyi to spyt at 60%.im 72 makeing 1200 a month on 40k in the market for 6 years.
Hope you get better!
Sorry to hear about your health issues. And YES, you should absolutely be looking to spend some of those savings on experiences with your family NOW!
But why are you pulling anything out of your IRA before 59.5 and paying penalties when you have $1.7 million in a taxable account? Just reinvest the dividends in your IRA and sell an equivalent amount of holdings in your taxable account and spend that instead. And you can even harvest losses in your taxable account to lower your tax bill.
I look at my portfolio every December and dump any losers that I don't see bouncing back in the next six months in a tax-loss harvesting move. And if I still like a stock but don't see a quick move, I dump the shares for the tax loss and consider buying it back after 31 days to avoid the wash sale rule.
So you can potentially save on taxes there as well as avoid the 10% penalty from the early withdrawal on your IRA.
Like you, I have more in my taxable accounts than in tax-deferred accounts. I just retired at 52 and have no plans to touch my Roth IRA or 401k balances when it would cause me to pay penalties. I'm also not rolling my 401k into a traditional IRA yet because then I would no longer be able to make backdoor Roth contributions (I have no traditional IRA). My wife still works part-time, and as long as she chooses to do so, I will continue to move money into our Roth IRAs annually. The plan is that we never touch that money and can leave the ideal inheritance – Roth balances that can continue to grow tax-free for the 10 years before our children would be forced to fully distribute the accounts, all 100% tax free. (Assuming congress doesn't change the rules between now and then.) I plan to slowly shift my accounts from growth and bag-holding on failed trades to being largely income-focused, leaving myself around 20% to actively trade.
You might also consider doing some hedging to protect those nice gains you've seen in recent years. I actively trade, and when I have a strong week, I take a portion of my gains and buy index puts or bear put spreads (SPX, SPY, QQQ, RSP). Since the markets have mostly been rising, it's been like insurance (expiring worthless). But there have been a few points where they paid off nicely (including the last two Aprils and August 2023).
How many years you are investing since you don't sound old and have 3,4M$?! What's the total amount invested?
I’ve been following your journey since I started my own YouTuber journey back in 2020. Every video is always high quality and provides instrumental wisdom. Thank you for all you do. Definitely praying and hoping there is a turn around with your health so that you can enjoy the hard work you’ve put in to providing your family and future generations with a comfortable life. I’ll be starting my channel back up soon. Great to see you still kicking. Keep up the great work.
I opened positions in GPIQ and QDVO. QDVO is fairly new. So far, it has even outperformed QQQ. Although, i don't expect for it to continue to outperform in the future. I felt comfortable buying QDVO b/c of the history of DIVO. The fund managers have done a great job with DIVO, and the fund has been around for almost 9 years.
It pays to income invest and reinvest until you want to retire you add to your social security and what ever else you may have
Great video. People who believe only in growth stocks need to see this. I think it is more important to people in or near retirement because you can’t just wait the market out when you need income. Selling stocks when they are down can destroy a retirement.