Once your pension rolls in, you should be golden, and that is not so far off.
I am not up on Calls, but judging from others here, relying on them may not be a good idea. So then my next question would be. Could you make it without the money from this?
Second thought. What's the worst that can happen if that income stream didn't materialize? A. You could sell some of your stocks for your short fall in the next 3 1/2 yrs. However, you may need a new car soon and you need to pay off your house. B. Get a part time job. C. Get a room mate.
I like option B best. If it were me, I would pay off house, buy a used car for cash when absolutely necessary, and try and keep this one running for another 3 1/2 yrs. if you can. I have a 95 Ford pick up truck that looks great and runs great. I also have a Prius so the truck is a secondary vehicle.
I have an Ooma phone too for house and a cheap pre-paid for cell costing me $10 a month. I even cut my cable a few yrs. back, and have OTA with antenna and DVR recorder and Netflix in it's place. That was a hard CALL - that last one. But now I'm used to it, and with the DVR, I have plenty to watch. (another way for you to save)
To me, your $1,800 a month pension is worth way more than $370,000 if the company behind it is strong. Pensions don't go down like the stock market. Hey, I'll give you $400,000 for it. Just sign it over and I'll give you a check.
(That's me green with envy!)
Curious what your total combined yield is on your Dividend Stock Portfolio.
I have a similar one.
I am not up on Calls, but judging from others here, relying on them may not be a good idea. So then my next question would be. Could you make it without the money from this?
Second thought. What's the worst that can happen if that income stream didn't materialize? A. You could sell some of your stocks for your short fall in the next 3 1/2 yrs. However, you may need a new car soon and you need to pay off your house. B. Get a part time job. C. Get a room mate.
I like option B best. If it were me, I would pay off house, buy a used car for cash when absolutely necessary, and try and keep this one running for another 3 1/2 yrs. if you can. I have a 95 Ford pick up truck that looks great and runs great. I also have a Prius so the truck is a secondary vehicle.
I have an Ooma phone too for house and a cheap pre-paid for cell costing me $10 a month. I even cut my cable a few yrs. back, and have OTA with antenna and DVR recorder and Netflix in it's place. That was a hard CALL - that last one. But now I'm used to it, and with the DVR, I have plenty to watch. (another way for you to save)
To me, your $1,800 a month pension is worth way more than $370,000 if the company behind it is strong. Pensions don't go down like the stock market. Hey, I'll give you $400,000 for it. Just sign it over and I'll give you a check.
(That's me green with envy!)Curious what your total combined yield is on your Dividend Stock Portfolio.
I have a similar one.
