Fender's final approach to retirement.

[rnsmth]

(04-30-2022, 08:11 AM)fenders53 Wrote: Good for you!!

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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.

[rayray]

(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.

ahem ahem ahem....

i can't retire anytime soon lol


fenders, have you ever considered preferreds??

https://www.quantumonline.com/

it's free but lots of good info

[fenders53]

(05-08-2022, 08:21 AM)rayray Wrote:

(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.

ahem ahem ahem....

i can't retire anytime soon lol


fenders, have you ever considered preferreds??

https://www.quantumonline.com/

it's free but lots of good info

I own some preferreds and it's growing.  I do it via a Nuveen ETF though.  The returns are the APR equivalent of a below average month of option selling.  So I will balance it out some to reduce my trade volume, which really is a bit like a fulltime job sometimes.  Selling monthly options rather than mostly 1-2 weeks would help too, but the return is less and it is not as safe in a market I suspect may have some more bad months in the short-term.  If it sounds like I am complaining, I do it because my returns have been excellent in this terrible market.  It encourages me to keep doing what I am doing for now.