The current market environment, CD and money markets have dropped too levels that I can’t make any money unless we are in the market. So, I changed my investment strategy to achieve at least 5-10% a year selling Covered call options that’s been around for years. This will be passive income producing if I want to withdraw from once a month, quarterly or even yearly if I wanted to. This is a real account and I could make or lose money so their is additional risk involved here and no investments are FDIC insured.
We began with 24k and I will put 1k in next month, So we can have at least 25k invested. I will update the video when ever positions change and show you all my trades. Please feel free to follow along by clicking the subscribe Button and give this video thumbs up.
I prefer everyone to perform these types of trades within an IRA, so you don’t have to worry about taxes on the profits you make. Because “wash” rules of the tax code could effect you on claiming any losses on your trades. Remember please consult your tax professional on trading investments outside your IRA’s.
Keep in mind, markets can change and folks can lose money. Please read all my disclosures below and thank you for watching. We’ll see how this proof of concept works out and place information in the remarks section of different stocks you think I should add to this profile. In, August we’ll start a 50k profile as well and that will focus on index funds covered calls.
Money Journey with Sonny and affiliates and related parties do not provide tax, legal or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.
Legal Disclosure: I’m not a financial advisor. The information contained in this video is for entertainment purposes only. Before investing, please consult a licensed professional. Any stock purchases I show on video should not be considered “investment recommendations”. I shall not be held liable for any losses you may incur for investing and trading in the stock market in attempt to mirror what I do. Unless investments are FDIC insured, they may decline in value and/or disappear entirely. Please be careful!