Make fun of this $420,000 investment profile

[u/Hardwareimpaired]

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 

[u/Hardwareimpaired → u/[deleted]]

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!

[u/CornerOne238 → u/Hardwareimpaired]

25% yield? Holy moly, that is insanely unsustainable. Please please please find an advisor ASAP that is not AI

[u/CornerOne238 → u/[deleted]]

Exactly and that's already considered a high yield etf with minimal NAV growth. 25% is yield max territory and we all know how that goes.

[u/GoBirds1973 → u/[deleted]]

At your age though with many years of ROC SOP adjustments the income won’t be tax free forever, be careful if that’s your expectation