D R I P Suggestions?

Hello fellow Traders,

I am a long time options trader, 8 years of experience and have a sizable account but have become frustrated and disappointed with recent market volatility. I have read up on Dividend reinvestment plans and taking an initial investment and constantly writing covered calls and obtaining the dividends and reinvesting over time.

Obviously starting out with 5 or 10k would not bear much fruit until way down the road but it would be a start for someone.

I am 21 years old and am going to start this strategy with 500k, the current stocks I have come down to look to start this strategy are T, VZ and KO. The typical investor would always say “never put your eggs into one basket” but I’m going to do just that and sell constant covered calls and take the dividends of whichever stock I buy and put them right back into the same stock for a period of 3-5 years.

After 3-5 years of that I would hope to of accumulated enough shares to be able to get 4-5K bi weekly off of covered calls and then start accumulating shares of another company, the goal is to eventually have 20,000 shares of T, 20,000 shares of KO and 20,000 shares of VZ by the time I’m 35 (so about 13 years from now).

Does anyone here think this is possible or am I just being too optimistic, I know people do this same strategy and could give me some valuable input/advice.

Thank you!

Submitted April 20, 2018 at 11:33AM by WhaleTrader1996 https://ift.tt/2qP66H1