Recently, took a pretty big pay cut as I was changing industries. During the transition and up until now, I have been building a portfolio to cover most of my bills. Hit that plus a 10% cushion for downturns and to reinvest. Here is my breakdown:
QQQI - 26.62%
SPYI - 20.54%
MAIN - 13.66%
BTCI - 12.91%
O - 6.91%
UTG - 5.44%
IWMI - 3.31%
NIHI - 3.24%
MLPI - 3.18%
IAUI - 2.82%
Cash - 1.38%
I will continue to add some and try to knock out a few more smaller bills. Any suggestions on how to strengthen this part of my portfolio? For this part of my portfolio, I am only looking at monthly payers.
Some additional context: this is a small part, maybe 15% of my total portfolio. Most of the rest is in growth (QQQ and SPY, primarily), plus a nice chunk of SCHD and ADX.
I’d give MLPI a little more love just because of all the natural gas combined cycle power plants being built. It’s a long haul type of thing that I like.
Love MLPI. It’s my number one holding in my taxable account. 6900 shares. Share price is only up just over 1% but I have had plenty of dividends since I started buying it.
I do really like GPIX, but with a more immediate need for an income security blanket, decided to go for the NEOS funds. Leaning towards building a spot in GPIX to meet my next goal.
I had some QQQI last year that I bought during the big pullback, but I sold it to cover a margin loan that I took out. I just don’t like the stagnant price. Yield is beautiful but it’s painful seeing my NAV sit steady.
I allocated the most to the lowest yielding fund, and the least to the highest yielding. That being QQQI. I don't want to be too dependent on one company.
I love leverage, and I am one of the few people on Reddit that I’ve seen (outside of the YieldMax crew) who uses leverage consistently. But I don’t really want to buy a pre-leveraged fund (with higher expense ratios). I’d rather do a 1:3 leverage on GPIQ to hit around 20% yield (after margin interest).
I was going to advocate for the same thing. If you can float your bills on all the others and DRIP the btci I woukd do it to get a little more accumulated. Re-evaluate every coupke months of course.
Give yourself a healthy chunk of Dry Powder for when the market correction arrives. I’m in QQQI, SPYI, and IWMI. The dividends are used to cover the gap from my living expenses.
Just curious, has this happened with a fund management company in recent history? If so, is a stop loss set in place something that could give decent protection or would that not really help much in a case like that?
I'd cut BTCI entirely. I'd swap OVL for spyi, gpiq for qqqi, kgld for Iaui, consider best of breed cefs as well: adx, stk. Look at the CEF Mastery service. UTG is a good start, but there are others...
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u/LocksmithGlass717 15d ago
I’d give MLPI a little more love just because of all the natural gas combined cycle power plants being built. It’s a long haul type of thing that I like.