Turbocharge Your Dividends Review
If you’ve ever wondered if there’s a way to turbocharge your dividends and increase that return by a couple percent per year, stay tuned, because I’m about to tell you about a book that has changed my entire mindset on this topic.
The book is called you can guess it “Turbocharge Your Dividends” and to quickly summarize, the entire book is talking about how you can leverage your current holdings that you’re already holding and earn additional income by selling covered calls.
The author goes by business famous on Twitter. He provides a tremendous amount of value, so definitely go check out his Twitter.
The book quickly goes over and shows you how you can double your dividend stock yields by selling covered calls. A popular ETF that does this strategy is called the Amplify CWP Enhanced
Dividend Income ETF ticker symbol $DIVO. Their strategy is to invest into high-quality blue-chip dividend stocks that pay a 2-3% dividend yield and then they also will leverage their holdings via selling covered calls to make an additional 2-3% in covered call option premium income.
This is definitely a great skill set to have if you’re looking for income. It may not be the best strategy if you’re only a growth investor, but when you get close to retirement learning these skills that you can use to produce more income from your portfolio is very valuable.
Do understand that using options as an investment strategy can be very risky. So do your own research. Make sure you understand your risk before ever implementing this strategy.
He does a great job explaining that in his book, but that is something I just really wanted to emphasize again as well.
Check out the book. Let me know what you think in the comment section down below.
