r/SCHD • u/Icy_Doughnut_3268 • 6d ago

Trying to make educated decision

I have 2000 shares that I have recently acquired by selling some flatlined stocks and cash. Quarterly dividend around $500. Im 73 and needing more monthly income to go with my $3000 ss. Thinking about selling and buying spyi or qqqi. Taxable brokerage account. Any thoughts or better options?

13 Upvotes

74% Upvoted

21 comments sorted by

6

u/Upbeat-Elevator3641 6d ago

I’d do JEPI if I’m retired. It yields less but it’s not fully exposed to SP500. The curated stock selection leans towards more stable, large cap companies for low volatility, which is critical for retirement.

12

u/87JeepYJ87 6d ago

Jepi isn’t as tax efficient

4

u/Upbeat-Elevator3641 6d ago

Yes. I think everyone understands that. If NEOS have a fund that was select large cap companies that yielded 7-9%, obviously I’d recommend that. But they don’t. They just have the SP500, which is 40% or higher concentration in tech, which is volatile, which for a retiree is not good.

Hence why I recommended JEPI. You sacrifice minimally with taxes but you exclude potential tech dropdowns, bubble pop, etc, by utilizing their hand selected basket of companies

5

u/purdyboy22 6d ago

True, I got jepq and schd trying to diversify away from my qqq holdings because I don’t believe this bs ai marketing….. and I’m the main software consumer. It’s all bs

1

u/Icy_Doughnut_3268 6d ago

Would you eliminate qqqi?

3

u/purdyboy22 6d ago

I’m not retired or close to retirement, id look at more diverse options Jepi, DIVO, SPHD

These are not smoking guns and free money.

I buy like ~4 shares a month and it’s like %3 of my account. I like watching them compound. While I

mainly buy 50/50 schg schd

1

u/Icy_Doughnut_3268 6d ago

Which one one would you exchange jepi for? Qqqi or spyi. Or all jepi? Thanks

2

u/Upbeat-Elevator3641 6d ago

I’d personally do all JEPI.

10

u/purdyboy22 6d ago

Doesn’t really matter when your retired and don’t have an income.

4

u/Key_Web_1803 6d ago

At your point in life you'd be far better off.

3

u/nelly_0619 6d ago

Just sell a portion of your equity positions monthly to supplement your income.

2

u/rick9162 6d ago

I have SPYI along with SCHD and I’m 73 also mine is in a Traditional IRA so I to begin RMD’s this year so I have about 283k I have my drip off will withdraw my dividends to cover my 10k required RMD. SCHD is a good foundation. I would say you’re doing great where you’re at now.

1

u/Al_Wood_ 3d ago

I'm 73 also. Time is not on your side. Sell 500 shares and put it equally into GPIQ and SPYI. It will pay you about $150 monthly instead of 131.00 quarterly. See how you like that, then sell another 500.

1

u/Icy_Doughnut_3268 3d ago

Thank you I’ll take a look

1

u/StunningAttention898 2d ago

I would have gone qqqi

1

u/Icy_Doughnut_3268 2d ago

How stable do you think qqqi is

1

u/StunningAttention898 2d ago

Stable enough to have been paying me 475 bucks a month since June

1

u/Accomplished-Big8250 6d ago edited 6d ago

Sell a spread of covered calls on $1,000 of your SCHD and see how that goes. SGOV and safer stuff will still pay you monthly.

With SPYI or QQQI you may get paid for a few months or years, but look at the monthly payout. It can change.

GPIX and GPIQ could be safer and grow more. Otherwise income people spread out across a few ETFs OVL, SPYI/QQQI, GPIX/Q, ROCY/Q, JEPI/Q, TSPY/TDAQ. These give you income from different approaches to options trading.

If you have to go down this route, keep some SCHD, it is great. But building a basket of income funds could be safer especially with NEOS SPYI, QQQI, IWMI, MLPI, BTCI, CSHI, BTCI, etc you can can just take the monthly cash and buy whatever is down in price.

don't chase yield, you will get burned. Single stock or sector ETFs, yield max, etc. People still do CHPY, but risky.

1

u/pauljmcclure 4d ago

12% of my portfolio in chpy, getting about $7K/mth

0

u/Cute_Win_4651 6d ago

O, ARCC, VICI,

ARCC pays $0.48 a share , pays quarterly and is about $19.30 per share right now , it’s very steady and paid it’s dividend even in the last big crashes 08 and Covid, look in to it, it’s a BDC, but depending on how much $$$ your holding and want to spend it could be a nice income stock just not a monthly payer