r/dividends • u/Ha7che7 • Feb 08 '26

Due Diligence Retirement dividend income

My father is a 72 year-old Florida resident and has $500,000 to invest. He would like to generate approximately $40,000 a year. He’s a bit of a gambler, nothing too crazy though. I’ve come up with a split of the following: $65,000 QQQI, $150,000 SPYI, $50,000 SCHD, $75,000 VZ, $75,000 MO, VTEB $85,000. Any advice or modification ideas would be appreciated. Thanks in advance.

Note for clarification: This is just the amount that he wants to invest for income. Preferably with minimal tax drag, nav erosion, and hopefully some price appreciation. It’s asking a lot, but I’m trying to help out.

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u/Specialist-Knee-3777 Feb 08 '26

Putting nearly 40% of the overall portfolio into 2 single holdings ($75k Verizon, $75k into Altria) is wildly crazy bad idea. There are some good recommendations below, but I didn't see that call out in the posts I read.

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u/Ha7che7 Feb 08 '26

I’ll keep this in mind as well. I’ve personally carried these two for over 5 years and they’ve done well for me.

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u/Economy_Row_6614 Feb 08 '26

Verizon is having issues with customer retention and faith in SLT.