RE:RE:RE:RE:RE:RE:RE:RE:RE:I'm outCouldn't agree more about financial advisors. I never found one that I felt had my interests at heart more than his/her own fees.
Yes, those utility sales for broad-based market sales I made couldn't have been more poorly timed, but I guess I'll chalk it up to a painful learning experience and move forward. They say that the first year before retirement and the 2-3 immediately after are the period where retirees are most likely to make emotional trading decisions, and I'm sad to say I'm part of the statistic!
Your strategy of layering into a name in 3-4 tranches is exactly what I do, so hopefully it works well for both of us!
Thanks again and happy dividend collecting, WW.
SargeX wrote: Hey Walter
Man oh man, those financial advisors. I've decided most are absolutely uselss. There's the odd good one but they are really hard to find. No one ever cares more about your own money than you do and I get p*ssed when they try to say they have your best interests as their priority.
That is a bummer on your recent sells given that you are close to retirement and they all have very good income. I used to hold more ETFS but I found they were too unpredicable in their distributions and the make-up of them (ie: capital gains, dividends, income, etc). I also think they don't raise their distributions enough compared to the actual undelyng stocks. Lastly, they still do have a fee assocaited with them.
I kept FIE and ZWB because they are a little different in that FIE uses leverage to enhance their payout and ZWB uses covered calls.
I generally buy in 3 or 4 individual buys that are anywhere from a couple weeks apart to up to 3-4 months, My logic is that if it goes up, I feel smart that I at least bought some. If it goes down, then I feel smart in that i can buy more at a lower price.
Good luck with the transformation back to dividend income/growth. It did take me a while but I i totally feel like my wife and I are in a fantastic spot now.
Sarge
WalterWhy wrote: I've actually been transitioning into retirement slowly myself so was looking at building a stable portfolio that I wouldn't have to fuss with too much. I then made the mistake of speaking to some finance types who convinced me that a dividend portfolio was not going to be as stress free as an ETF-based equities portfolio and ended up trimming my utilities positions to change the money into ETFs--what a mistake!
I like your approach of steady income: as long as the dividend gets paid, you can just enjoy life and not fret about the day to day fluctuations and all the news headlines. Glad to see that it has worked out for you.
Going forward, I'm going to adopt a buy and hold strat where I just add to my positions and try not to trim any (absent any big news). Do you generally enter your positions in a company all at once, or do you layer in your position over time?
Thanks again,
WW.