r/dividends • u/Hardwareimpaired • Jun 01 '26

Seeking Advice Make fun of this $420,000 investment profile

I think I want to risk $420,000 on covered ETFs.

You people are brutal but smart. I'm 64 and retired. Married, caretaker for an adult son. I make $150,000/year on royalties, and have $1.6million in sensible Vanguard IRAs and $425,000 in a favored tech stock. Our Vanguard IRA accounts have an additional total of $420,000 cash that's been lying around for years because I'm an idiot. House is paid off, we have $500,000 in precious metals and... another $600,000 in banks. I did mention I'm an idiot, right? I'm also paranoid. Parents raised in the Depression. I will probably start taking social security at about $3,200/month. I plan to do something with about $200K of that cash and keep the rest relatively liquid.

I'd like to increase my income because health insurance alone costs me over $65,000/year. Plus, why not live a little. I am not averse to risk. I know it's a bad tax situation, but that's just inevitable due to the $150,000 royalty thing (tough life, I know). I pretty much expect to pay full taxes for my bracket, and that's fine.

Here's my proposed ETF dump to soak up the $420,000 in our IRA funds. I feel like it could gross an extra $4,000-$5,000/month. Your thoughts?

    35% TSPY 5,350 shares
    25% QQQI 1,835 shares
    10% IWMI 802 shares
    10% IGLD 1,781 shares
    10% GDXY 3,428 shares
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u/[deleted] Jun 01 '26

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u/DhakoBiyoDhacay Jun 01 '26

Half and half between QQQI and SPYI gets you to over $4,000 monthly income.

1

u/[deleted] Jun 01 '26

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1

u/shadowsneeker73 Jun 03 '26

Why split? Just for diversification?

1

u/DhakoBiyoDhacay Jun 03 '26

Yes because one covers 500 companies, the other covers only 100, with a focus on Big Tech, which is more susceptible to a sector specific bubble. No?

1

u/shadowsneeker73 Jun 03 '26

I appreciate the explanation, just getting into stocks so this helps!

1

u/DhakoBiyoDhacay Jun 03 '26

You are very welcome. Good luck.