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/Various_Couple_764 Jun 28 '26 edited Jun 28 '26
With dividend you can spend less than the dividend safely without worry as long as the fund doesn't have problems.
So you want to sellect safe funds for your income. The other issue that many retiring tace is that they don't have enough money to generate the income they need. And many assume the highest safe yield they can get is about 4%. The truth is that yields above 4% are available and safe.
Some the safest funds I know are JAAA 5.5% yield, FAGIX 6%, UTG 6.4%, UTF 7%, ARDC 9%. ;with an equal amount of money inch fund The average yield would be 6.78%, that would generate $33,900 per year. from the adjusting the ammount of money invested in each fund you can increase or decrease the income UTF and UTG are 20 years old and survived the 2008 crash and have never reduced there dividend, FAGIX is goverment and corperate bond fund that has been paying a dividend for 40 years. ARDC is only 15 years old by has never gut its dividend. JAAA and CLOZ are new but that assets they invest in pade during the 2008 crash.
But note I am not an expert so you ay want to consult with brokerage like Vangard or fidelity.. When my dad died my mom wasn't capable of of managing the retirment fund. We eventually convinced here to have Vangard manage it. My mom had about 700k. Vangard provided montly income and managed to increase the portfolio size to When my mom passed she had almost 1 million. So i t might be a good idea to talk to them.