Feb. 3 at 3:57 PM
$SPY for dividend investor I think you should just buy -- on red days / pull back / correction --
$DJD or
$SPYD or
$SCHD using 72,000 annual limit Mega Backdoor Roth (80,000 if over 50) and hold for 20 years to get
$4,000,000. Schwab and Fidelity all allow you to trade instead of buying prescribed mutual funds. Have dividend reinvested. After the 20 year mark, give it 10 more years, (keep contributing 72,000 - or 80,000 annually cos by then you should be over 50+) and you will have a trust fund of
$11,000,000 - distributions all tax-free! That's why law firm partners and accounting firm partners are so rich - but one equity law firm partner told me he regretted owning home TWICE - now he just rents and puts all money into SPY and enjoy 10%+ return yearly instead of a money sink that is a house & mortgage interest (huge on a
$5M home). Actually it puzzles me why big law / big 4 people spend above their means. @mhparvez @bsnacks @LetsGoMets10 @blancoBull @PaPaBaZi @WantedToRetireEarly
