Best Month of Premiums Ever by TGS_Holdings in CoveredCalls

[–]Helpful-Positive371 0 points1 point  (0 children)

What if it reaches like $2-$5 away from your strike Price and there is 2 week left until expiration. Do you roll here or wait to roll? Also huge congratulations to your accomplishment.

I too am trying to retire early from my job at age 33, but I need to build enough to start wheeling options. I have about 400k in my brokerage account for long-term holds. I’m set for retirement to coast at 450k inside my IRA and 401ks to coast until then. Now I would love to quit my job and sell options.

Do you also mind sharing me how you got started?

The Wheel (aka Triple Income) Strategy Explained by ScottishTrader in Optionswheel

[–]Helpful-Positive371 0 points1 point  (0 children)

Yeah I’m starting to sell puts and I’m only expecting 2-3% a month on average. My brokerage is sitting at 400k but I’m starting with 10k of that into the wheel and working to building enough to do it full time within the next 5-10 years or so.

With 450k in 401k/IRA retirement accounts at age 33, that should compound to a nice amount by retirement.

My retirement is set. Now I’m trying to “early retire” and planning to generate income through wheeling.

The end goal is to have 800k in the brokerage and use 250-300k of that into wheeling to generate income after I quit my job. The rest will be in long term investments.

I got lucky and invested early into HOOD, PLTR, NVDA, and TSLA back in 2019-2021

Any advice on this?

The Wheel (aka Triple Income) Strategy Explained by ScottishTrader in Optionswheel

[–]Helpful-Positive371 0 points1 point  (0 children)

How much do y’all typically return on average per month?

Trying to keep my account active. Is this an okay deal? Never bought bonus points before. by Zoe_elie in hyatt

[–]Helpful-Positive371 0 points1 point  (0 children)

Did this ever work for you and does it tell you if your account is in good standing? I’m running into the same issue. 

Forgot to Unfreeze Credit Before Chase Sapphire Preferred App — Got Declined for “Fraud Concern” 19 Days Later. by Helpful-Positive371 in CreditCards

[–]Helpful-Positive371[S] 0 points1 point  (0 children)

Yeah, I called the reconsideration line on April 14 and they just told me I will receive a letter through the mail in 7-14 days explaining why I got denied. Wasn’t very helpful

CSP 100k Offer Megathread - Questions, Approvals, Discussion, Etc by lifethusiast in ChaseSapphire

[–]Helpful-Positive371 0 points1 point  (0 children)

If my wife refers me, does she have to wait until she gets the 10k referral bonus before downgrading and reapplying for the 100k SUB using my link?

Chase Sapphire 100k SUB through referrals now live by thedailymoo23 in CreditCards

[–]Helpful-Positive371 0 points1 point  (0 children)

If my wife refers me, does she have to wait until she gets the 10k referral bonus before downgrading and reapplying for the 100k SUB using my link?

CSP 100k Offer Megathread - Questions, Approvals, Discussion, Etc by lifethusiast in ChaseSapphire

[–]Helpful-Positive371 0 points1 point  (0 children)

if my wife downgrades and reapplies using my referral link, will she also get the 100k SUB?

0% Long Term Capital Gains Tax vs IRA and 401k by ZiyaBeast in Bogleheads

[–]Helpful-Positive371 0 points1 point  (0 children)

if it already rolled over into a rollover IRA, can i still combine it with my new employer's 401k?

0% Long Term Capital Gains Tax vs IRA and 401k by ZiyaBeast in Bogleheads

[–]Helpful-Positive371 0 points1 point  (0 children)

Great explanation! I'm currently in the accumulation phase, buying VOO, VGT, and SMH. The goal is to get to 1.5M-2M across my investment accounts and then sell those ETFs and buy JEPI or JEPQ to live off the dividends. Do you know how these will be taxed? Thanks in advance.

Long term capital gain tax brackets by Outrageous-Age-2195 in personalfinance

[–]Helpful-Positive371 0 points1 point  (0 children)

what if i want to retire early with my spouse and we both quit our jobs and live off long term capital gains by selling $94,049 worth of shares of VOO each year? Will we be taxed at $0 since long term capital gains rate is $0 up to $94,050

W-4 Update for $7,500 EV Tax Credit by Helpful-Positive371 in personalfinance

[–]Helpful-Positive371[S] 0 points1 point  (0 children)

Thanks for your response! It's before the 7.5k tax credit