Most folks think retiring on $527K is a dream—but most folks haven’t heard of high-yield closed end funds (CEFs). With yields as high as 22%, these unsung income plays can fast-track your race to financial independence.
Here’s how: let’s say you’re looking to clock out and use your portfolio to replace $50,000 in yearly employment income. Many financial advisors will tell you that the most you can withdraw out of a conservative stock portfolio is 4% a year (this is known as the 4% safe withdrawal rate). Simple math tells us that this means you will need $1,250,000 to retire.… Read more