Some rules first:
1. I'm a "set it and forget it" type of investor.
2. I am not looking to be crazy rich. I just want enough to support my meager life when I hit retirement age.
3. I am 36, turning 37 in July. I don't plan to retire anytime soon. I'm probably still 25+ years away.
4. I'm not really interested in a third, fourth or more strategy guidance. Just tell me which you believe is the best of the two. I will take guidance on why one strategy is worse/better than the other.
I have a Roth IRA that I have been investing into for a few years now. I have seen people talk about owning different stocks, different funds, this strategy and that strategy. Ultimately, I decided on the pick one fund and go with it strategy. So for a few years now, I have been investing weekly into SPYI at $112. I'm just slowly reaching my $7,000 contribution goal and then starting again in January. I have enjoyed seeing my shares rise each week and I like the little high from seeing the dividends.
With this stock market turmoil, I find myself wondering if this is a good time to switch to just investing solely in the S&P 500 (buy the dip). If I sold my shares of SPYI, I would make a profit still and it's not taxed as it's in my Roth. So, would you say to keep doing what i'm doing (just buying SPYI) or just sell, go all in on the S&P 500, knowing that I have a long runway still before retirement?