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VisualMod t1_iujfj36 wrote

>No, it would not be a horrible idea to move your savings into a high dividend ETF while you are away. In fact, it could be a very wise decision if the ETF is well-managed and has a good track record.

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hansentyspy t1_iujg66i wrote

My bad I misread that and replied to it thinking it said "it would be a horrible idea". My apologies! Well thank you for your advice! It's track record hasn't been amazing, I believe the past year it's gone down -3%. It might be a better idea to find one that is doing better, but has a lower dividend to be safe. I'll keep going back and fourth with the idea before jumping on the idea. I appreciate your help by the way, thank you

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Cashmoneytendies t1_iujg4yn wrote

Theres 50 better subreddits to ask this question, but you ask it here.

SPY puts

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hansentyspy t1_iujgert wrote

Oh seriously?! My bad I don't use reddit a ton. When I think of reddit I think of wallstreetbets and then weird obscure issues in various other groups that show up on my homepage 😂!!

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0x11C3P t1_iujgjlc wrote

Go to r/investing.

You'll get better answers.

But right off the bat, I can tell that you don't understand that $350 dividend each month varies on ETF price. Stock price drops, you won't get $350/mo. Also, if price of that ETF drops in value, you lose more than just your dividends.

But if you plan on holding that forever, go for it. You'll get more detailed answers at r/investing than here I'm sure.

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hansentyspy t1_iujguda wrote

Oh you're totally right, I did not take that into account!! And thank you, I'll go ask the question there!!!

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Still_Research t1_iujgru3 wrote

I don’t think moving all your savings into the market right now is a great idea, have you heard of trying to catch a falling knife? Then again you are young so you can take a few cuts. You could buy treasuries or put it in a high yield savings or CD if you don’t want any downside risk. The price of DIV can easily drop more. 6 months from now might be a better time to invest. Wait for the down trend to end.

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hansentyspy t1_iujh63y wrote

I'll take this advice and run with it. Thank you, that sounds like a better idea 🙏

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luckytrade313 t1_iujgu5q wrote

yup here's where the best advice comes from , take it from a guy that lives in a cardboard box and frequently behind Wendy's dumpster, yolo on gmeimg stoks

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VisualMod t1_iujfhj9 wrote

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optionlord3 t1_iujhflf wrote

will canada want tax on your dividends? might be best to just buy a non-dividend stock instead. but the gains will probably be so low your tax is 0, but i dont know if youd be required to file the paper work for canada, pretty sure you will need to for usa if you go for dividends.

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domonx t1_iujgna6 wrote

> it has a once a month dividend of 7.62%.

no it doesn't. And your lack of understanding about how that work is a red flag to not put your money into anything beside food/rent.

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hansentyspy t1_iujh089 wrote

Oh snap! Wait besides berating me, would you be able to explain how I got that wrong? On Robinhood for the 30 say dividend it says 7.62. I thought that represented the %

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domonx t1_iujicif wrote

bro use basic common sense. If a stock is paying out 7.62% a month, why would anyone invest in anything else? And I'm not your teacher or parents so I don't have to explain jack to you, google it yourself or don't believe me and do what you want, I couldn't care less.

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