The Big Plunge

I finally made the decision to contact my financial advisor and tell him to sell a large chunk of my mutual fund holding that are not in my IRA. I am going to wire the funds to the brokerage by the end of the month and start selling covered calls for bigger income returns. I started 6 months ago with about 33K in an account and it is now about 40K so I have completed my learning period.

I will keep the new funds in a separate account since I will draw down some funds some months to supplement my SS and IRA withdrawal. I want to try to grow my total estate rather than just count on the advisor to earn enough for me to live to 100. Financial advisors seem to be happy if they get you a net of 5-6% per year. That amount does not keep up with inflation and draw down to live on.

Will let you know when I get start selling calls on the new account as-well-as keep posting relative to my learning account.