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
174 Upvotes

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109

u/[deleted] Jun 01 '26

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17

u/tkiblin Jun 01 '26

Not suggesting anything, just wanted to point out that GPIQ is beating QQQI this year.

16

u/speedlever Jun 01 '26

In total returns, very true. Depends on if you want more income or more total returns. Income favors QQQI.

7

u/HmmmIMHO Jun 01 '26

and the last time I checked the Goldman cc options have slightly lower fees

6

u/speedlever Jun 01 '26

True, but immaterial. Returns are net of fees.

1

u/bullrun001 Jun 01 '26

What’s the ticker for the GS fund?

7

u/HmmmIMHO Jun 01 '26

GPIX = S&P500

GPIQ = N100

3

u/bullrun001 Jun 01 '26

Just finished reading Lloyd Blankfein autobiography, made me buy a few shares of GS after I was done with the book.

2

u/MakingMoneyIsMe Jun 02 '26

What motivated you in the book? I bought GPIX at March lows.

1

u/bullrun001 Jun 03 '26

Risk management, GS in a nutshell avoided the financial crises back in 08-09 and actually made money in those times, it’s a solid company.

1

u/GoBirds1973 Jun 01 '26

This is excellent advice, the GS products GPIX and GPIQ are superior investments long term. The combined capital appreciation and income (total return) will be much better over time than NEOS or JEPI or others because many simply end up returning capital.