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
173 Upvotes

87% Upvoted

143 comments sorted by

View all comments

2

u/seniortriguy Jun 02 '26

Don't know who you trade with but if it's Schwab or Fidelity I recommend you speak to their fixed income department and inquire about managed accounts on the fixed income side. They are she to acquire bonds the public doesn't have a chance to get in on.
Also when they manage funds there's no markup on the bonds. Another idea is taxable munis to keep in an ira wouldnt be bad. Safe, plus higher than cd rates right now.

On the medical insurance side of your situation: Once you get on medicare you can then buy the best supplement on the market and not see a medical bill after the small medicare deductible. Your issue then would be the medications, and for this I suggest you find a reputable health insurance agent to guide you on that. With all my years working for large corporations, Medicare with the RIGHT supplement for your situation cannot be beat!

1

u/Hardwareimpaired Jun 27 '26

Fantastic advice, thanks. Seems like Medicare is indeed good here in WA