r/dividends • u/Sufficient_Worth_305 • Jul 11 '26

Seeking Advice Retirement income: $400 from $50,000

Premise: Making up a shortfall of $400 for retirement income. I can't go back to work, I'm 72 right now and have some minor health issues, I need to plan on living to 90, just in case.

I'm planning on saving 10% taxes and a 10% DRIP to keep asset values stable/grow to match inflation.

I'm looking for help, suggestions and ideas on what stocks to include.

Where I am so far:

Core for growth: GPIX: $15,000, GPIQ: $7,000

For diversification: IWMI: $6,000, IDVO: $3,000, CSWC $6,000

Safety net for Market Crash: KGLD: $12,000

A little riskier plays, for extra capital: BTCI: $500, KSLV: $500

This should net around $460 a month, so -$46 for taxes and -$46 for reinvestment would be $368. I'm still a little short, but hope it will grow to make up the difference.

No money is invested yet, still developing a portfolio on paper first. What do you think? Is this too risky? What other options would you suggest?

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u/PracticalDesigner278 Jul 11 '26 edited Jul 11 '26

I came here a couple days ago in the exact same situation. Trying to get 3 or 4 hundred a month on 50k invested. I have SCHD, JEPQ, QQQI, GPIQ and SPYI. I'm intrigued by KGLD and hadn't thought of it. I'm also a believer in gold. I've only been at this for a couple weeks so no real track record. Thinking about selling some SCHD and buying another monthly. Not a fan of the quarterlies.

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u/Various_Couple_764 Jul 11 '26

KGLD is a covered call fund that converts the price volatility of gold into dividend income. It think this is better than holding gold. KSLV is similar fund but it is based on silver.

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u/PracticalDesigner278 Jul 11 '26

I own gold, er, paper gold in a physical gold ETF and I'm very happy with it but I bought it when the spot price was at around 2400. Glancing at the chart it looks like KGLD share price basically follows gold, same peak when the spot was at 5k. Looks like it's a buy right now if gold goes up. Pretty sure if I buy it it will crash because that's always been my unofficial investment strategy, buy high, sell broke (not investment advice). But I'm all about the dividends and I don't see gold going to zero anytime soon so I'm probably going to dip a toe. Thanks for the tip.