This Dividend-Powered Plan Lets You Retire In 7 Years

This Dividend-Powered Plan Lets You Retire In 7 Years

Financial Indipendence Retire Early write on a book isolated on Office Desk. By now I'm guessing you've heard of the FIRE movement—you may even know someone who's following this "extreme" form of retirement saving. An acronym for "financial independence, retire early," FIRE advocates look to retire earlier than the traditional age of 65—and I mean way earlier. Some even clock out in their 30s! They do it by building up a huge cash hoard over a period of years, then making steady withdrawals (with some going by the flawed 4%-withdrawal rule) to sustain themselves. Some keep working during their "retirement"; others clock out entirely. I was thinking of the FIRE folks this week and wondering how they'd fare if they tapped into the wealth- (and income-) generating power of closed-end funds (CEFs), which boast monster yields, sometimes north of 10%. Members of our CEF Insider service know what CEFs can do for their retirement income. These funds not only give us huge yields but also the price gains we can only get in the stock market, letting us pay our bills without having to save a large cash hoard (and often without having to sell a single stock for cash