Newbie in investing :
Currently using wealthfront for investing want to try something else.
Looking to invest monthly in dividend funds.
What are some good funds ? and what portal to use have etrade account already.
Do u have to pay tax on dividends you get ? any ways to avoid it ?
As to why dividend funds only, seeing returns on wealthfront on different sectors and dividend sector is the max.
TC : 310k
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comments
You also do pay tax on the option premium, strike - entry, and underlier dividends, but that usually comes out to only 20-30% of the distributions, so you're effectively delaying taxes on more than half the gains while being able to take your money now. Beats getting a dividend that's taxed right away.
Alternatively you can own SPY and sell off a few % a year, but selling calls has a smoothing effect making it more like dividends whereas in a down market selling and incurring excess capital losses that have to be carried over for taxes isn't great.