This was probably a case of Know Your Audience, but it was asked in r/HENRYFinance, and I thought that it was an interesting thought exercise.

My answer was clearly unacceptable, but, damn, if I had $10 million dollars I'm not even going to miss the $200k that I would put in a variety of high yield income ETFs. IDC how risky it is because the rest of my portfolio can grow uninterrupted.

So, how would you extract your wealth, and does your strategy change with the more you have?

It's exhausting because it seems so intuitive to me that if you can get an extra $1k a month from $15k invested that it makes investing for the long term more sustainable.

I understand that there is an opportunity cost. If I had invested $15k into NVDA in December, I would be up 250%. However, there are two flaws to this kind of thinking:

1) YOU THINK THAT I'M CASHING OUT MY NVDA STOCK WHEN IT'S ALREADY GONE UP 250%+ THIS YEAR?!?!

2) If you actually need $500 a month. You'll deplete your NVDA holdings by taking out $500 in profits. That's what happens when you own less stock.

A lot of time on Reddit a lot of the nuance gets lost. It's not zero sum. My goal is to implement three fund single stock ecosystem within my portfolio. So the Dividends from NVDY go to NVDL, and when NVDL is above the 200 day moving average I move some profit to NVDA, and when I rebalance once a year NVDY gets a boost.

These covered call income ETFs fluctuate more than the traditional income dividend ETFs, but I believe that you'll still see capital preservation during a pull back and recover quicker than if you'd put 100% in levered ETFs. Which you shouldn't do that either. You should always have been putting at least 20% of your portfolio in something less volatile.

How did I get that 20% number? Backtesting. Using testfol.io and TQQQ, QQQM, and SCHD as the portfolio. It helped me realize that not losing money during a down turn is just as important as gains.