I am trying to help a person generate $1500-2000 a month off their $500k portfolio - mainly to cover rent.
I'm looking at these, mostly because I own them and it's what I'm familiar with.
DVY 4.01%
SCHD 3.70%
SWVXX 5.237% (Schwab cash)
More background...
This is the entire portfolio, about half is non-qualified, the rest is IRA money.
The person is 52.
Income is $20k a year (yes, this has to change).
I thought maybe a bond ladder?
Annuity? But then you're locked in, for better or worse.
Some sort of combination? Because of the persons age, growth is needed.
My thought is buy a condo with cash and get a better job, but at the moment, this person is stuck.
Any ideas?
I'm looking at these, mostly because I own them and it's what I'm familiar with.
DVY 4.01%
SCHD 3.70%
SWVXX 5.237% (Schwab cash)
More background...
This is the entire portfolio, about half is non-qualified, the rest is IRA money.
The person is 52.
Income is $20k a year (yes, this has to change).
I thought maybe a bond ladder?
Annuity? But then you're locked in, for better or worse.
Some sort of combination? Because of the persons age, growth is needed.
My thought is buy a condo with cash and get a better job, but at the moment, this person is stuck.
Any ideas?