Should I be doing something differently? I am putting $50 into HHIS everyday, is this a smart decision? I would like to have a good monthly income from dividend with growth ETF’s as well.
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25 Comments
Kar Yung Tom@karyungtom · 2dEdited
If you want exposure to the companies in HHIS, then it's fine. If you hardly know anything though, stick to the basic market-cap ETFs like VFV and XEQT. Even then, I would read up on some basic fundamentals.
Jojo Wang@jojo84072 · 2d
It looks like you are very young, would not recommend covered calls. XEQT and VFV are good to have 👍
Bill Johnston@billjohnston · 1dEdited
I'm retired and I buy covered call ETFs and I day trade. I don't recommend either to you and I'll tell you why. You're young and you have a long time horizon ahead of you. Passive income from covered call ETFs is great (I love it!!) but here's the thing: My wife and I buy over $300,000 worth of CC ETFs monthly and it pays our living expenses. With the amount of money you're working with, you're going to get the $30 you mentioned. This is not what you want to hear but this is what you should be considering: Buy the $VFV and the $XEQT for years and decades until you have a major pile of money invested in them, THEN chase those CC ETFs and live off of them. Chasing yield and sacrificing growth when you have little money in the market is going to burn you and you're going to lose. That's not a guess, that's a promise. Buy index ETFs like the two I mentioned for at least the next 20 years then take that growth and apply it to income. That's the hard reality: You have to make money from growth stocks and ETFs before you can make money from CC ETFs. 👍
Alex G@djz69y · 2d
You are young and you can absolutely invest for monthly income, i do recommend understanding deeper in what you’re getting into because you can lose your capital while you’re “getting paid”. I personally hold ULTY after watching @nettspend video, i use my weekly payments to buy more XEQT, i lost capital but compared to what i put in i already made the money back from my dividends. As long as you understand your risk level, everybody’s income and opportunities are different.  
Jon G@jayman20 · 2d
Everyone has a different need for their investment. In his case he is looking to increase his monthly income not so much of what 20 years can bring in slow growth non dividend paying ETF etc. One thing to keep in mind. Always chasing a high yield can lead to having your investment paid back to you in the form of dividends due to NAV decoy.
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