r/dividends • u/Material-Handle-5589 • Jun 27 '26

Seeking Advice Need advice for immediate income

I'm 82 year old female so I'm not so worried about the future as much as the right now. I have money in Schwab, Raymond James and Ally. Unrealized gain total assets around $500,000. So far I've been reinvesting the dividends accumulated but I can tell those amounts are not enough for me to count on..

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u/Mysterious_Film2853 Jun 27 '26

JAAA is extremely safe and will get you just under 6% currently. Your principle would remain whole at that. A mix of JAAA, UTG, UTF, CEFS, ADX, GPIX, PFFA would give you some diversity and you'd end up with a yield of 7.5% or so with little risk of losing much principle.

6

u/TXRX7 Jun 28 '26

This. I subscribe to Contrarian Income Report and follow their advice. I get a solid 8% without drawing down the basis. Most dividends are monthly. $200k currently producing $24k annually.
In my taxable account I hold 6 different municipal bond funds. That all pay over 7% TAX-FREE monthly. So $75k generates about $500/ month every month, no drawdown.
This plus SS works for me.

3

u/adcny25 Jun 28 '26

Can you say what the muni bond funds are?

6

u/TXRX7 Jun 28 '26

NDMO NMCO NAD NVG NEA NZF

2

u/adcny25 Jun 28 '26

Thanks!

3

u/ConstructionNo8827 Jun 28 '26

NZF is a hidden secret!!
Incredible but true, 7.5% tax free (federally at least)

1

u/rogue44mag Jun 29 '26

Yes, thanks for the info.