Seems like there’s some great generic advice. Pay off debt, especially high rate debt. Make more than you spend. Invest the difference. DIVERSIFY!
I think this is terrific advice for most people.
I’m not the type.
I love to study stocks and balance sheets and news. I only own 11 stocks, Reddit being the biggest position so thank you for using Reddit!
While I own a little spy and QQQ, I actively and opportunistically sell naked puts and calls, have been for 20 years. I’m ok with volatility, in fact I’d like more.
In my view, with a little effort you can outperform SPY or VOO. And it’s perfectly OK for 99% of people if you don’t want to put in that extra effort. Getting a market return is amazing. I recommend VOO to my mom.
But it’s not that hard to outperform. I don’t do this, but off the top of my head you could put 100% of your account in VOO. Then sell 1 naked call on SPCX strike 450. That’s a market return plus $100.
If you find a few of these ridiculous things per year, it starts to feel like extra dividends that you can just buy more VOO. This is just an idea off the top of my head for this post, but I look for a lot of opportunities like that.
So many people watch YouTube or look for training courses and stuff like that and I feel like they’re wasting their money and time, and getting bad advice.
Feel free to join the subreddit r/ThetaGang if you’re interested in selling options and letting theta work for you. It’s not my group, but I’ve been a part of it for a few years and the guys are great.