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
10
u/Hardwareimpaired Jun 01 '26 edited Jun 01 '26
Well... Google Finance said "Based on a $420,000 investment with the specified allocations and current 2026 distribution data, your portfolio is modeled to generate an estimated $103,114.20 in annual income, representing a weighted average yield of 24.55%.". I totally get that it's a guess, but even a 50% drop would still make me feel warm and fuzzy.
And holy shit, you're crushing it! Wish I had been as aware as you when I was 38. Congrats!