Doug Meeks is a Registered Investment Advisor in Plano, Texas. He is the Principal Advisor for Pier LLC, an investment management company. The focus at Pier is to build and manage income-producing portfolios for our clients. We provide individual service to those who are inclined to see their money working for them. Growth and income do not have to be different parts of your portfolio.
Owned three distinctly different businesses over my 40 year professional life. Recently sold my business and retired. Now, a Private Investor who has been in the stock market for approx. 50 years since I was 13 or so. Main focus now that I am retired is dividend paying equities which include CEF's, REIT's, BDC's and MLP's. Goal is to live on the income w/o touching (and hopefully growing) the principal.
Retiring to Maine seemed like the American Dream back then:
Today I would picture myself sipping cold brewed Starbucks in LL Bean slippers in front of the Vermont Casting gas fireplace in the sunroom. Later a little snowshoeing in the woods before a lobster Mac and cheese lunch followed by a nap in the Lazy boy recliner.
“If you just sign the payroll deduction form we can get your retirement started all with the help of American Funds”, the broker/adviser said. He made it sound so easy.
Thirty years later reality sets in. The broker is on his sail boat and I'm wondering where my yacht is. Must be docked with the other customer's yachts.
Today, I’m trying to convert a very modest assortment of American Funds into a dividend paying portfolio that will beat my RMD and supplement SS.
Enter SA and the “new achievable” American Dream. With the help of some very knowledgeable SA authors and a bit of luck we will make it and SWAN too.
In the spirit of full disclosure, we have all the goodies described in the first paragraph plus our yacht is a 12 foot Carolina skiff. It still is nice to grab a quick NCL cruise to Bermuda or a longer one to the Caribbean using some of those delicious dividends.
Semi-retired old f......t who is still learning how not to get burned in the market. Very small retirement portfolio, which is making me progressively more cautious. Living in central California, but, if my health declines further and I am forced to surrender my part time position, considering moving back to my Texas home state to a small, inexpensive town near the DFW area, where my better half and I can exist on my SSA and her modest job....