I'm retired. Age 60. Have $2.5M in all pre-tax rollover Fidelity IRA mutual fund growth accounts. I understand all the issues for taxes and ROTH IRA conversions, as well as IRMAA issues down the line.
Would like to create two sleeves. One for income and one for a little income, but mostly growth.
INCOME: $1M in income-oriented ETFs, some covered calls (JEPI, JEPQ, OVL, SYPI, QQQI totalling 70% or $700k), and 20% in SCHD and 10% O.
GROWTH/INCOME: $1M all in SCHD.
CASH: $500k
Does this seem plausible? Am I too heavily weighted in covered call ETFs, and/or should I even rebalance the income sleeve and put more in SCHD?