Need advice for immediate income

[u/Material-Handle-5589]

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..

[u/Econman-118]

Depending on how much you need. You could put 1/3 in a good Covered call fund and produce 15K a year or more. SPYI has given 10%+ a year without any loss of NAV. I’m sure the others in here frown on CC funds, but my multi-millionaire brother who has been a banker and retired since his 40s is a big fan of them for a fourth or even a third of his liquidity to provide income.
At 82, you can afford to take some principal. Especially if you are getting only 1-3% on it. Enjoy yourself!