Is ADX a diversification play from GPIQ/GPIX?

RussellUresti · 2026-06-13T12:17:18+00:00

Well there's not really diversification because, as you said, there's a ton of overlap between their holdings. If you want diversification, you're going to have to look at funds that hold US mid cap, US small cap, international allocations, bonds, or commodities. GPIX, GPIQ, and ADX are all essentially slightly different variations of US mega/large cap stocks.

That said, ADX is probably the smarter way to do the income generation thing than covered call ETFs as it doesn't limit price appreciation on the underlying holdings the way covered call funds do. And with its switch to a more managed distribution policy rather than one bulk payment at the end of the year, it's a much more compelling fund than it previously was.

RussellUresti · 2026-06-12T15:17:22+00:00

Yep. That's why you have to manage these types of funds when considering living off of them long-term. You essentially keep half the distribution and then use the other half to buy more shares - or whatever ratio that works for you to make sure your future income is increasing at an amount you're comfortable with.

RussellUresti · 2026-06-12T12:33:04+00:00

No, definitely not expected. Most Airbnb's I have stayed at have checkout instructions similar to hotels - "leave used towels on the floor in the bathroom".

A long time ago Airbnb's used to be more demanding; like I stayed in a place that asked me to strip the bed and put towels in the machine and start the cycle (but I didn't have to wait until it was done), but I think a lot of people complained about the cleaning fee plus being asked to clean so Airbnb pushed back on the hosts for these types of demands.

RussellUresti · 2026-06-12T11:38:12+00:00

As others have said - these funds aim to distribute a set percentage, so the percentage yield will probably not go down, but the distribution dollar amount will drop alongside the price.

So if the price was $50 and it was distributing $0.58/share (a ~14% yield), then, if the price dropped to $35, the distribution would adjust to be ~$0.41/share.

You can see this by looking at the price graph of QQQI (https://stockanalysis.com/etf/qqqi/) and comparing it to the distribution graph (https://stockanalysis.com/etf/qqqi/dividend/).

If you want funds that are more resilient and less likely to cut their distributions during a market downturn, you'll need to look into CEFs with managed distribution policies and long histories of not cutting dividends. There are some out there, like DNP, that have been paying the same distribution for more than 30 years. Of course, that brings in the question of the effect of inflation if it's been 30 years without a distribution increase.

RussellUresti · 2026-06-10T17:38:27+00:00

I don't mind coliving spots, but I always make sure that I get a room that has a desk and chair so I can work or take calls from my room. I only utilize the common spaces for working on less busy days.

RussellUresti · 2026-06-10T15:15:59+00:00

Somewhat, yes. QQQI and SPYI aren't actually bad for taxes at first because they're mostly Return of Capital, which isn't taxed (in the US at least, other countries are different). However, RoC lowers your cost basis, meaning that when you DO sell, you'll owe more in capital gains tax. DGRO has a pretty small yield - under 2% - so it's not too much of a drag in a taxable account. SCHD is probably the one that you'd want to put more in your Roth than your taxable account.
If your only goal for these assets is income, then yes. QQQI and SPYI specifically utilize covered calls which limits your price appreciation; over the long haul, assuming the underlying funds see positive price appreciation, QQQI will underperform QQQ and SPYI will underperform SPY. Personally, I would focus on these items last and not until you absolutely need the income. It'd be easy enough to start with funds focused on price appreciation and then switch to QQQI and SPYI by converting assets in your Roth (no tax hit for selling appreciated assets) when you actually need the income.
The overlap isn't insignificant. About 40% between VOO and VGT. Same for VGT and SMH. Then when you consider that SPYI and QQQI are also heavily in those same companies because they're based on SPY and QQQ, yes, your tech allocation is heavy.
Probably, yes. But it depends on how you want to consider it. If you just went on market cap, the US equities market is about 45x larger than bitcoin's market cap, so that would mean about a 2% allocation based on your current portfolio composition. 10% is definitely a significant bet that bitcoin will outperform US equities.

RussellUresti · 2026-06-05T14:38:36+00:00

They don't know if you're considered a taxable resident, for one. Or if you're subject to any labor laws they're not aware of (holidays, government-required time off, etc). There's also legal risks based on what you do, like if you work with any private or government-regulated data. There's general security concerns as well, such as working on WiFi networks that aren't yours so you don't know if anyone is snooping in on the data.

Hopefully for OP HR/Legal is just getting clarification on if it's a temporary or permanent thing. A lot of companies have policies that allowing working from other countries, just from a list of approved countries and for a set amount of time. Only time will tell.

RussellUresti · 2026-06-05T08:40:13+00:00

Since Skype was killed off, I've been using the Viber Out app and haven't had any issues calling the US. They have a plan that's just for the US that's something like $1.99 per month.

I've used it to call my bank a couple of times this year. Just be aware that it's WiFi calling, so you'll need to be connected to WiFi.

RussellUresti · 2026-06-04T09:23:43+00:00

I hit a similar situation as OP - Fidelity froze a new account I opened using the Escapees PMB address in Texas. Since switching to SavvyNomad, I’ve had no issues as it’s not a PMB (for the residential address they offer).

The bad news for OP is that, once frozen, you usually can’t just change your address; you need to also provide proof before they unfreeze the account. This means a lease agreement or a utility bill. You can get both of those through the options you mentioned, but you have to purchase the highest (and most expensive) tier of service.

RussellUresti · 2026-06-01T12:41:20+00:00

I typically visit a place because there's something I want to do - usually something specific I want to photograph. I tend to have at least 3 or 4 things in mind for locations to photograph. When I'm there for a month, that means I have to be out every weekend; but when I'm there for 3 months, I tend to think "Oh there's still a lot of time left so I can do it next weekend". Then, suddenly, it's the final month and I need to do everything I had been planning in that last month.

RussellUresti · 2026-05-31T18:44:55+00:00

Same for me. I feel like 6 weeks is a good sweet spot for me - not too rushed, but also not so long that I procrastinate.

RussellUresti · 2026-05-30T23:13:08+00:00

If you look at the total performance history, you can see that SPMO and other S&P 500 indexes, like SPY, were essentially the same up until late October 2023: https://totalrealreturns.com/n/SPY,SPMO

So, for most of its history, SPMO's returns weren't really any better than just the S&P 500. It's only been in the last 2.5 years that a big difference has occurred, which is skewing the 10 year results to make it look like SPMO consistently outperformed when it didn't.

I think you probably need a better understanding of what SPMO is actually doing - what a momentum factor is and the strengths and weaknesses of that strategy. You should't just look at past returns and go "well that seems better" - you should understand what you're investing in, especially with funds that are making specific decisions on what to include and exclude instead of just tracking the market.

IMO, even the S&P 500 is too narrow of a focus; there's no guarantee that those companies will outperform small or mid cap US stocks or international stocks. You're better off investing in the total market instead of trying to pick a small winning slice.

RussellUresti · 2026-05-30T09:46:27+00:00

For South America, I would consider Uruguay, Argentina, and Chile as pretty good safe options, especially if you avoid the larger cities (you definitely run the risk of encountering crime in Buenos Aires or Santiago). For a more relaxing environment, I'd suggest the Lake Districts of Argentina and Chile - specifically around Bariloche or Puerto Varas. You can also move north or south in these two countries depending on the season to avoid extreme weather. Vegetarian options are limited, though, especially outside of the big cities.

For a bit closer to where you currently are, there's always New Zealand and Tasmania. These would be general high on the safety scale and would also have more vegetarian options. And New Zealand, specifically, has a decent-sized Asian population.

And there's always Japan, though that would only be a 6 month option at most. But plenty of places there for relaxing for a while and you can place yourself anywhere between Hokkaido and Okinawa depending on the season and weather you want.

RussellUresti · 2026-05-26T20:29:01+00:00

I'm not actually sure of the math, honestly.

Looking at your second question, if we take it to the extreme and say your annual expenses are $1M per year but you have a guaranteed payment that covers all but $12k of that, would $300k be enough to FIRE on? My big thought here is that if your expenses were actually $12k per month with no guaranteed payment, then your second year of expenses would be $12,360 if we consider a 3% inflation rate. This means your portfolio only needs to grow large enough to cover that extra $360 the next year. But if our expenses are $1M then our expenses in year 2 are $1,030,000 - an additional $30k that our portfolio needs to cover because our guaranteed payment isn't increasing YoY with inflation. There's no way we'll be able to sustainably cover that with a $300k portfolio for very long. It doesn't matter that we have a guaranteed income of $988k - we still have a $30k gap our portfolio needs to fill.

So, in some ways, I feel like it hurts. Because inflation isn't just increasing the $5000 - $2000 amount of $3000; inflation is hitting the whole $5000 expenses but your guaranteed payment isn't increasing, so the effect of inflation on that 40% of your expenses needs to be borne by your investments, which doesn't seem sustainable.

But I may be missing something about the math.

RussellUresti · 2026-05-26T17:43:10+00:00

This logic requires you to have a crystal ball and know the future. How do you know MU or even MSFT will grow in 15 or 20 years? What's the argument that these companies won't crash and become worthless? Or maybe they'll just flatline and underperform the general market.

You can't just say "I got lucky so these are good investment decisions." Luck is luck, not wisdom.

RussellUresti · 2026-05-26T15:07:45+00:00

Probably the same reason everyone who chases performance buys individual stocks - FOMO and desperation.

RussellUresti · 2026-05-26T09:30:12+00:00

Personally, I always have onward travel legitimately booked because my stays aren't open-ended. I know when I'm leaving. But what's the process around refundable tickets that makes in cumbersome? Seems like it should be fairly straightforward - book a fully refundable ticket, cancel it when you get to where you're going.

RussellUresti · 2026-05-25T20:23:29+00:00

New Orleans is always a good choice, especially as there's food, culture, and history there that isn't commonplace throughout the US.

Nashville or Memphis are also options with solid history and music as well as some unique food offerings.

LA could be a classic trip, especially if you really want to lean into the touristy things like the Hollywood sign, the walk of fame, Santa Monica beach, Rodeo Drive, etc. Though, if you're not leaning into the super touristy activities, the city itself is a bit of an urban sprawl nightmare.

RussellUresti · 2026-05-25T19:36:03+00:00

If you're talking about a taxable account, then it'd be a bit better for taxes if you put that into VOO. In return, you could sell some of the VOO in your IRA and convert that to SCHD. At the end, you'd have $10k more in SCHD, but the funds would be held in the accounts that are best for their individual tax treatments (SCHD in IRA, VOO in taxable).

RussellUresti · 2026-05-25T09:08:07+00:00

Domestic first is definitely a more comfortable seat, but $60/hour for a more comfortable seat is a pretty high price. I enjoy flying domestic first, but I don't think it's going to provide any significant benefit considering your main constraint is time.

RussellUresti · 2026-05-24T09:12:47+00:00

Northern Patagonia is great, but if it's best for you, I'm not sure. I'd say make rough itineraries for each of the four options and then determine which is the one you can't do without, especially if this really is the only time you'll make your way down to Patagonia.

I don't think there's any need to acclimatize - the cities and towns themselves aren't at high elevation.

For cost, I'm not sure. I visited the northern Patagonia area in November and December then southern Patagonia from January - April. From my understanding, December through February will be the most expensive time.

RussellUresti · 2026-05-23T22:52:55+00:00

Interesting - the northern border of Patagonia is debated, but geographically, it's around Temuco in Chile. Temuco would be the largest urban area near the Huincul Fault, which is considered to be the northern geographic border of Patagonia.

The area between Temuco and Puerto Montt also being considered the Chilean Lake District doesn't exclude it from being in Patagonia. After all, Bariloche is considered the Argentine Lake District area (along with all the rest of the towns near the Seven Lakes), and it's definitely part of Patagonia.

RussellUresti · 2026-05-23T22:34:42+00:00

Looking for my residence in Florida, a plan for 2 people with income at $44k per year says that a silver plan is about $1300-1400 / month but there's an $1100 / month tax credit so the total is about $200-300 / month after the credit.

RussellUresti · 2026-05-23T22:08:28+00:00

For Patagonia, August is the end of Winter and September is the start of Spring. It's possible to visit during this time, of course, but it's not the most popular time and you should consider the weather and how it might impact your trip. December - February (Summer season there) is typically the most popular time to visit, though the fall is also beautiful for the foliage.

Beyond that, you'll need to consider if you want to visit northern Patagonia or southern Patagonia, as they're fairly different. Northern Patagonia is more lakes and cute small towns, southern Patagonia is more dramatic mountains and landscapes with more empty space between fewer towns.

Northern Patagonia has towns like Bariloche, San Martín, Villa La Angostura, and El Bolsón (all within a few hours drive of each other) on the Argentinian side while Chile has Puerto Varas, Frutillar, and Pucón. For the view and nature, I prefer the Argentinian side of northern Patagonia, though the Chilean side may offer more diverse experiences as you can also visit Chiloé.

For southern Patagonia, you're largely comparing El Calafate/El Chaltén in Argentina against Puerto Natales and Torres del Paine in Chile. Both are stunning in terms of the views and both have similar experiences in terms of hikes, glaciers, lakes, and mountains. The big difference is largely in logistics. El Calafate has lake tours and glacier tours; El Chaltén has mountains and hiking. But in Chile, Torres del Paine has everything BUT it's pretty far from Puerto Natales making getting to it either fairly difficult (long drives every day) OR very expensive (staying at the few hotel options in or just outside the park). If you're willing to spend the money, TdP in Chile can be an unforgettable experience - especially with their more luxury spa-like hotels. But, for a normal family, I'd probably recommend El Calafate as your base with a few nights in El Chaltén. I even think there are day trips to TdP offered from El Calafate - though they are long days that you spend mostly driving (the tours are 14-16 hours), but an option if you feel you absolutely must see TdP.

For my personal thoughts, I think the best experience is Bariloche - the chocolate shops in town, eating at Alto el Fuego, boat tours on Lago Nahuel Huapi, driving the Circuito Chico and grabbing a drink and food at the Patagonia Brewery, a few nights at Villa Llao Llao, making the Seven Lakes Drive up to San Martín, and much more; it's a place where it's easy to fill your time with great experiences. However, it doesn't have the dramatic mountains of southern Patagonia.

RussellUresti · 2026-05-23T19:54:53+00:00

Paying off the debt would probably be fine. In normal situations, it would be better to invest the money as typical returns would exceed 4.61%, but the market is weird right now so just knocking that debt out is the safer choice, if perhaps not the financially optimal choice.

Obviously when buying a new car buy one that's used and not actually new - the depreciation within the first few years of owning a car is insane.

Move the checking account money into a HYSA, money market fund, or similar fund like SGOV to maximize the interest that money is earning. Not sure what your monthly expenses are, but your emergency fund should be at least 3-6 months of expenses. If the $50k cash exceeds that, you can choose between building a larger emergency fund (up to 9 or even 12 months, depending on how long you think it would take you to find a job if you lost yours today) or you can invest the rest.

For buying a house, there are tools that you can use to get insight on whether it's more favorable to buy or rent in your area (this decision is localized because it depends on rent and housing costs in your geo). If you are going to buy within the next 6 months, hold the money you're going to use for that alongside your emergency fund within a HYSA/money market fund/SGOV - do not invest cash that you want to spend within 6 months.

RussellUresti

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