How to Retire on $250K [STEP BY STEP]

[@AverageJoeInvestor]

*Good Afternoon and HAPPY FRIDAY everybody! Thank you for being part of the community. Make sure to leave your $0.02 in the comments with any questions, concerns or feedback. =)*

[@EntertainMeNow]

So in a bear market you use the cash reserve until all is locked in and then what? I know that's the worse case scenario but bear market do happen even if less frequent than bull ones

[@lawrenceneo2626]

Really interested to see the difference with your method of selling daily covered calls on IWM, vs just holding the RDTE. And daily cc in SPY vs holding XDTE, QQQ vs QDTE. I love to see the upcoming spreadsheets.

[@Riggsnic_co]

Am 58 retiring next year but the thought of retirement gives me weakness. My apologies to everyone who have retired and filing social security during this time after putting in all those years of work just to lose everything to a problem you never imagined to happen. It’s so difficult for people who are retired and have no savings or loved ones to fall back on.

[@JacquelinePerrira]

True, It has never been easier to understand how to build your money after retirement than it is right now with the inflation, when you may study and experience a completely variegated market passively by employing a successful portfolio-advisor. The impacts of the U.S. dollar's gain or fall on investments, in my opinion, are complex.

[@Jamessmith-12]

Even if you’re not skilled, it is still possible to hire one. I was a project manager and my personal portfolio of approximately $850k of my retirement pension took a big hit in April due to the crash. I quickly got in touch with a financial-planner that devised a defensive strategy to protect my funds and make profit from my portfolio this red season. I’ve made over $250k since then.

[@kevinmarten]

Mind if I ask you to recommend this particular coach you using their service? Seems you've figured it all out.

[@Jamessmith-12]

'Carol Vivian Constable, a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.

[@kevinmarten]

She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.

[@slammer6789]

I like how you remind people that they dont have to sell options daily, if they might be going away on a trip. Lessons learned!!

[@kimbiwasmith9661]

BTW, thanks, Joe! You do a real service to people seeking to learn to manage their own financial futures. Keep up the great work.

[@dcgain]

Thanks for another good one joe. Btw I posted the video of my 6 month test on your IWM strategy. Thanks for all you share on here.

[@DollarswithDiana]

Thanks Joe, I’ll practice with paper trading first.

[@Gzvzusba]

_I KNOW NOTHING ABOUT TRADING/ INVESTING AND I'M KEEN ON GETTING STARTED . WHAT ARE SOME STRATEGIES TO GET STARTED WITH ?_

[@Hzgsbaja]

As a beginner, it's essential for you to have a mentor to keep you accountable. I'm guided by a widely known crypto consultant

[@Hzgsbaja]

Mrs Annette Gina

[@Thahuai]

This is correct, Annette Gina strategy has normalized winning tra-des for me also and it's a huge milestone for me looking back to how it all started,..

[@tsvysba]

[@agywhzua]

Isn't that the same Annette Gina that my neighbours are talking about, she has to be a perfect expert for people to talk about her so well

[@thumperjr100]

Excellent content, thank you for your time and effort you put into each video.

[@burrahobbithalf]

I have a hard time believing you can make $35K on $100K per year. There has to be a very dangerous glitch in this reasoning or everyone would be doing this. I think it's knowing whether it's going up or down, which nobody can really know given the random fluctuations.

[@EllenHarry]

Being unemployed and turning 39 has left me feeling lost. What chances for passive income do I have with $425,000 saved for an early retirement at the age of 50, $10,000 in an HSA, and a property that could provide an additional $200,000

[@keithfletcheer2156]

It makes sense to consider hiring a financial advisor at this point, but delaying retirement for a bit might be a more prudent choice

[@EllenHarry]

I’m confused about whether to combine all my investment accounts into one. If I decide to do this, how should I go about it, and will there be any consequences I should be aware of? I also intend to sell my property, which could add an extra 200K overtime. Should I consolidate everything into one investment account, or diversify across several sectors?

[@adamalford-x1p]

These are important questions for a financial planner. I met mine at a NYSE event, and she helped my wife and i rebalance our 1.7 million portfolio between a traditional IRA and a brokerage account. She has been trading with our permission and has managed to recoup our financial losses thrice over again. We keep and manage the market cautiously.

[@kimtreasa]

That is impressive! my portfolio has remained stagnate. Who is guiding you please?

[@adamalford-x1p]

Monica Lisa Payne. She is well known, so you can look her up online

[@rhainc2263]

Another great video! Just what I needed to get some inspiration for my investing.

[@kimbiwasmith9661]

QQQ dividend earned you a whopping 67.70 last qtr for those who may be wondering.

[@juanserrano3297]

SPLG also tracks the S&P 500 index at a much lower price. So it cost much less to own the required 100 shares.

[@KeanuReevesIsMyJesus]

SPLG doesn’t provide good option opportunities. The whole point is to use options to generate income.

[@aquamonkeyeg]

SPLG only has monthly options tho.

[@kimbiwasmith9661]

I used to sell daily and now sell weekly with the target to roll or close the trade at 50% of earned premium or 2-3 days. At that point I will roll out another week, so I generally capture premiums twice a week. It’s not worth the risk to sit on these trades until expiration. The guys at Tastytrade have proven that over and over. I may look at moving to their 45 day mange at 50% or 21 days model.

[@travisgarrett9398]

What delta do you use as a strike price?

[@ferr0gan]

Im curious as well ​@@travisgarrett9398

[@raymond-i2v]

Lately I've been contemplating retirement, uncertain whether my 401(k) and IRA will ensure a secure future. I've also invested $800K in the stock market, experiencing fluctuations without substantial gains.

[@davidjohn-u4v]

Using a 401(k) or IRA is a valuable strategy for retirement planning, providing potential savings growth and tax advantages. While the stock market is promising, expert guidance is essential for effective portfolio management.

[@Derawhitney]

Exactly my solution too, even though I'm not retired. As a contractor with limited time to analyze investments, I've relied on a fiduciary for the past seven years to manage my portfolio. This strategy has helped me navigate market fluctuations effectively and also increased my porfolio by up to 300%. You might consider a similar approach.

[@RayaMarcus]

I've got similar problems and I have also considered using an FA but I don't know how to go about it. Please, what are the steps for getting one? Like a really good one.

[@Derawhitney]

Stacy Lynn Staples is the licensed advisor I use. Just research the name. You’d find necessary details to work with to set up an appointment.

[@BridgetMiller-]

Thanks for this. I just googled her name and found her webpage. I'm really impressed with her credentials and I reached out to her since I need all the assistance I can get.

[@alphadogpack]

Thanks for all you do. Your vids have helped me be much more confident that things like medicare+supplement, and maybe even all utility bills can be funded with the meager amount in my IRAs. I've experimented the wheel strategy in my Roth for several months and feel I won't be chained down in my upcoming retirement.

[@citizenm9590]

For education purposes what are your highest conviction stocks for growth stocks for us to research?

[@delliott777]

Hey Joe: an idea. When selling options etc, why not make the contracts at different strikes? For example, maybe a 1 contract at ~30 delta, another at ~20 delta etc. This could mitigate the impact of when shares are called away. I’d be curious to see a back test of this.

[@RealKimJungUn]

I thought that was what he was getting at at ine point, but he didn't. Like sell the $90 plus the $50 to generate his needed $140

[@hl7843]

Is it a good to keep cash in SVOL? Any other recommendations for holding cash? Thanks

[@SilverFox-s9f]

I’ve heard Robinhood does pay 4-4.5% on cash account but may need the upgraded account. Or use Fidelity SPAXX core account pays 4.6%

[@ShihabPersonalFinance]

What do you do when your call is itm at expiry? Do you roll for a debit?

[@BH195829]

Hi Joe … I read that doing exactly this strategy, but selling puts as opposed to calls resulted in 50% less “touches” (assignment) what are your thoughts on that?🙏😊

[@kxkayser]

Hey Joe. When do you place your 1 DTE trades? That is, what time of day? Near the close of the previous day's session or earlier or the start of the session when they expire (which would make it 0 DTE)? Thanks for your channel

[@antonexus]

Thank you for sharing. Financial education is crucial today to show incredible resilience and discipline in the volatile market, masterfully balancing strategy and insight for success. This dedication to continuous learning is inspiring...managed to grow a nest egg of around 2.1BTC to a decent 15B TC in the space of a few weeks... I'm especially grateful to Seren Wintersun, whose deep expertise and traditional trading acumen have been invaluable in this challenging, ever-evolving financial landscape..

[@antonexus]

SHE IS ON TELE GRAM.

[@antonexus]

@Serenwintersun

[@Stephanielow6]

Get yourself someone like Seren Wintersun who understands the market very well and is also a professional in placing trades. That's the key.

[@9KateMoran]

What I appreciate about Seren Wintersun. is her ability to tailor strategies to individual needs. She recognizes that each investor has unique goals and risk tolerances, and she adapts her advice accordingly.

[@Kathleendinges]

The key to financial stability is having the right investment suggestions for a diverse portfolio. Many investment failures and losses happen when you invest without proper guidance.

[@stevensaxon8888]

Enjoyed another great video joe. Your thoughts on selling weekly csp & cc on sofi

[@kentfaver]

Excellent video Joe. You have mentioned before and maybe even in this video, but the cash account can also get a kicker if you sell puts very conservatively from that account - taking that 4.5% up to 7% or 8% is a nice boost to monthly income.

[@SummitMan165]

Good video Joe! Seems almost too easy !i should try on paper for e few weeks before doing it for real ! Or stick to ETF tradings the same options

[@douglaswallace7176]

Captial gains tax?

[@sigor2011]

Don't brokerages also charge like $15 to $25 to write a contract?

[@jamiedavis567]

I think O.65 is the fee for 1 K.

[@KG-wh8yv]

50 cents

[@marcr2204]

Joe the rock star, this is exactly what i needed, for puts i think we can leverage margin of at-least 50k without paying interest?

[@citizenm9590]

Do you know if there is a discord or group where we can look at utilizing margin to sell cash secured puts to accelerate our early retirement?

[@aat3tville181]

Thanks I really

[@bunbohue369]

why not just buy 500 shares of SPY, it is will be over 250k but margin will cover the rest. Income from dividends and cover call will cover the margin interest.

[@thomaswhiddon9124]

Staying abreast of the latest trends and strategies is crucial for traders to stay ahead and make well-informed decisions. Beginners in trading and investing must recognize that success in these fields demands technical analysis, emotional maturity, and self-discipline. Thanks to Monica Lisa Payne insights, daily trade signals, and my dedication to learning, I've been increasing my daily earnings. Kudos to the journey ahead!

[@thomaswhiddon9124]

erNameIs Monica Lisa Payne, cant divulge much. Most likely, the internet should have her basic info, you can research if you like

[@MargaretDKnapp]

I just looked up this person out of curiosity, surprisingly she seems really proficient, I thought this was just some overrated BS, I appreciate this.

[@StephenMPetty]

It is really refreshing to see a comment about Monica Lisa Payne.I have worked with her also for months now, reached out after reading more about her on the internet. she simplifies matters, whether it's a market surge or drop; her approach consistently keeps you ahead of the trend, She's a guru i'll say

[@johnjoe_247]

Risky Bitnezz!

[@cobynette6738]

This is just ridiculous and completely unrealistic. This doesn't work like you're explaining. You're leaving out many important factors, inflation, taxes, etc. Let alone the risks of a year like 2022... Please dont mislead people and tell them they can "retire" on 250k....

[@effigy98]

Most would be better off in taxable doing something like SPYI. It has return on capital during your earning years to lower tax bill and does the option yield for you. You will probably come out ahead over managing your own options since it takes the human mistakes and emotion out of it. Add 6% $MSTR and you will have a fast growing portfolio. 94% SPYI, 6% MSTR. On 500k, you will be clearing about $60,000 per year in yield with a portfolio growth rate of over 20%. The only thing that will stop this if the governments around the world become fiscally responsible and stop spending. The system cannot handle that so the probability of that is extremely low, they have to print and inflate to keep the system going. $MSTR will be the new $BRK.A of our time.

[@kevinclark1482]

Wonder how many he lost on the explanation of options to be used as the method to retire, but maybe it was just me 😢. Looks like I still will stay working until I find something easier to understand more closer to basic investing, because options is not my thing.

[@cobynette6738]

@@kevinclark1482 options are a great way to increase returns and cash flows. But he's talking about selling close to the money, daily options which will blow up in someone's face on day one of a drawdown ... I recommend learning options strategies but be realistic. No one is retiring off 250k.

[@johnwolfe8305]

Options aren’t hard to trade. I have really just started in the last year myself, but I’m just dipping my toes in the options water. I have found the Robinhood software and app is the easiest for me to look at and understand. So my advice would be to start small and make some trades. I am currently trading options in SLV (silver). It’s been working well for me. Try to watch a lot of videos on trading options in Robinhood or in Fidelity or Schwab or whatever trading platform you use. Good luck!!!

[@YouGotOptions2]

You can definantly retire on 250k usd.

[@BA-pz3lo]

Is there a “for dummies” version of this 😂

[@rep4293]

Much better to start the process with selling puts on QQQto acquire them discounted and get paid to do so. Then sells the calls. Spin the wheel

[@DeannaPeters-lz8we]

I retired at 53 now, 55. I have close to a six-figure portfolio, 70% income uk stocks, blue-chip companies, the rest in growth etfs sp500 nasdaq global technology, etc. I still like the growth aspect of investing but as my grandkids would inherit all this how best does all this get best managed for better returns?

[@Gracejay-d2e]

Yes, you can do that. Investing $80,000 in the S&P 500 at an 8% annual return will grow to about $805k in 30 years. fiduciary advisors can achieve 10-15% returns, so do your research and consider consulting one.

[@rebeccaartgallary]

Absolutely! Wealth is made in growth investing . We aren’t in a bear market, but nibbling heavy red days has proven to be fruitful for me over 9 years of investing. I am at 2.25 mil. Biggest positions PLTR, TSLA, SCHD, NVDA, and now looking to build up DRGO alongside finding quality value/growth stocks to buy. I got $48k divs last year in taxable divs. Q3 taxable divs this year was $18,388 this year. Don't sell when the market is down. Having a skilled CFA that puts the time in to do in-depth research can be invaluable in strategizing your portfolio.

[@JohnBeen-r3v]

Well it seems like a lot of your interest is riding on your source, I could really get well accustomed to your viewpoint, get me involved.

[@rebeccaartgallary]

SHARON CRUMP CLINE is the advisr I use and im just putting this out here because you asked.

[@JohnBeen-r3v]

Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.