Fender's final approach to retirement.

[NilesMike]

(01-04-2022, 09:08 AM)fenders53 Wrote:

(01-03-2022, 11:03 PM)NilesMike Wrote: 100% agree regarding Vanguard. They are so old and stodgy it's brutal to do much more than buy and hold or covered calls with them.

I tried with them but got totally frustrated.

I have 1000 option trades with Vanguard but they are simple.  I will mostly keep them simple but it's ridiculous I can't do a spread.

Move some money over to TD to use TOS and trade more spreads. SPX spread, for your final retirement approach, 31DTE 4900/4910 call spread pays 2.80, 7.25 risk.

Way better return than doing covered calls on the ETF.
Good luck either way

[fenders53]

(01-04-2022, 03:30 PM)NilesMike Wrote:

(01-04-2022, 09:08 AM)fenders53 Wrote:

(01-03-2022, 11:03 PM)NilesMike Wrote: 100% agree regarding Vanguard. They are so old and stodgy it's brutal to do much more than buy and hold or covered calls with them.

I tried with them but got totally frustrated.

I have 1000 option trades with Vanguard but they are simple.  I will mostly keep them simple but it's ridiculous I can't do a spread.

Move some money over to TD to use TOS and trade more spreads. SPX spread,  for your final retirement approach, 31DTE 4900/4910 call spread pays 2.80, 7.25 risk.

Way better return than doing covered calls on the ETF.
Good luck either way

I am holding index ETFs from now on anyway so they will get calls sold against them when it seems to make sense.  I was beating the SPY most of the year and then got stuck with a ton of cash and fell short.  Wasn't willing to chase he market too high.  Wasn't a bad year at all but I am going to simplify this.  No problem doing some spreads in Schwab where all of my IRA is headed soon.  Some is leaving tomorrow.  I did some major cleanup on the port the past week getting ready. I've had good results selling puts on some select SPACs and LOTs of other stuff I don't want to own much.  Pushed my luck long enough because you know I'd get bit eventually.  I cut 25 tickers the past 6 months.  I like it better when I know what I own is quality and could turn off the computer for a month if I desired.  The results were good and way too much attention required.  I'll find my happy place.

[fenders53]

Time for an update. I put in my notice at HD. Three years flew by fast. Can't say I will never work again but my back/hips will not allow me to do much of the physical part of my job. It's not fair to my co-workers who have to pick up my slack so I'll find a new way to make a few side bucks. Don't really want to dwell on this.

For those who know me here, my port was far from a retiree port. I'm not ready to make it boring, but it required WAY too much daily attention as Crimsonghost warned. The "young man" gave me good advice. It's easier now. I can't track 30 open option trades and relax. If I want to play stock market and make small trades I can, but it's mor optional now. It took many months longer than I thought to transition to something I can ignore for a week or two if I want to just go fishing for a week. It's not perfect but it is approaching the plan I laid out early in this thread. I will share tickers if there is any interest in giving me feedback.

I now own more than one lot of all the index funds I consider must owns. 100 share lots of the indexes are a lot of money so it is hard to balance perfectly but I'll get there.

QQQ-SPY-IWM In that order so I have the US market covered to my satisfaction. I suppose 30% of my total port is the eventual target.

I own about 20 tickers and they are fairly diversified. The index ETFs diversify me anyway so I can lean how I wish the economic cycle turns. Tickers available on request lol.

I have enough cash to play my put selling game and earn monthly income. When I get exercised I sell covered calls, rinse and repeat. Again, trying to lean the port slightly with the economic winds and not chase junk I won't feel uncomfortable holding. My port is 98% trash free at this time.

I am getting close to where I wish to be.

[crimsonghost747]

Glad to hear that you managed to adjust the portfolio to be much more retirement oriented. I actually went through the same, not really by choice. It's a very complicated situation but long story short is that I actually get some student money from the government seeing as I'm enrolled in a university, but option trading would create income that would take that student money away. So the risk/reward just isn't there in for me right now.

First couple of weeks it was tough. Now I'm getting used to not checking my portfolio 20 times a day. And it's actually relaxing.
So when is your last day at work?

[ken-do-nim]

Dropping like flies on this forum. Eric & I are going to be the only working stiffs pretty soon I suspect you will find another job somewhere; I think you will get bored otherwise.

[fenders53]

Last scheduled day is end of next week.  Then a weeks vacation.  The next electronic schedule is posted and I noticed I am down for requested time off and still an employee.  I have a feeling the store manager is not allowing me to quit just yet lol.  He'll probably ask me to work in the cash vault or something where minutes would seem like hours.  I am just done with the retail grind.  I actually enjoyed it before corporate cut staff too far.  I have a few paid projects lined up where I can show up or not if my back says not today.  

If volatility returns I can sell options.  Easy to close them a few days or a week later, rinse and repeat. If the market just flies in one direction I cut way back on options.  I have to train myself to not force myself to be tied to the market 4-6 weeks out.  There are many ways to do that.  I've just gotten used to my way.  I've done it long enough and know how to minimize the chances of trouble.  None of this gets me bill money until end of April without penalty.

[crimsonghost747]

(02-02-2022, 07:33 AM)fenders53 Wrote: Last scheduled day is end of next week. 

So close!
That is if they actually let you leave!

[EricL]

(02-02-2022, 07:21 AM)ken-do-nim Wrote: Dropping like flies on this forum.  Eric & I are going to be the only working stiffs pretty soon  I suspect you will find another job somewhere; I think you will get bored otherwise.

Haha, yeah. With four kids and one being less than a year old, I'll be here for a LONG time! =)

[fenders53]

(02-02-2022, 07:21 AM)ken-do-nim Wrote: Dropping like flies on this forum.  Eric & I are going to be the only working stiffs pretty soon  I suspect you will find another job somewhere; I think you will get bored otherwise.

Working is for poor people that don't flip stocks.  That's probably what bankruptcy procedures are for also lol.  

You are probably right.  Most of my hobbies require decent weather.  I'll probably end up working some each winter for awhile.  I happened to get lucky and found a position at HD I enjoyed. Designing fancy doors and stuff is rewarding. I just can't lift them for hours when we get a big shipment in, and they've cut staff so bad that asking somebody else to do my job every shift isn't fair.  I'll be resented if I stick around.

[cemanuel]

Last scheduled day is end of next week.

Congratulations!!!

[fenders53]

Here are the top holdings.

ETFs QQQ-SPY-IWM

Top ten stocks

JNJ
BMY
WEC
EOG
XEL
TXRH
RTX
GOOGL
VSTO
FB

There are a few I would adjust but I will probably wait for covered calls to hit eventually. JNJ is certainly not my favorite stock at these price levels. FB probably falls off the list tomorrow if I don't add much. ENPH may overtake it.

[fenders53]

I haven't updated this for awhile....

Had my 59 1/2 birthday last weekend. I can now withdraw from IRAs penalty free. I will do so this week. I hate to touch the accounts but pension checks are still six months away.

What a scary market time to retire! My timing has always been mediocre. Out of self preservation I lightened up on equites months ago on every brief market run that brought my stocks up. I sell a LOT of puts with strikes WAY out of the money most of the time. That has been very effective so far. Sure beats getting crushed like I would have holding all my stocks through this beat down.

I hate staring at a computer monitor so much, but it pays 5X my HD pay so this is my life for a few more months. I opened 167 option contract sales in March. It workedout wonderful with the volatility but it was work. I can make it less complicated when I choose to, and spring is coming soon so I can play outside.