Updated: September 28, 2016
If you feel trapped grinding out dividend income at 3% or so, listen up. The Fed’s latest “no hike” call has provided big 7% to 9% yields with the “all clear” signal for another year or two, at least.
In a world where a million bucks worth of dividend aristocrats will only net you about $29,000 annually, you’re probably looking for higher yielding options. Some closed-end funds (CEFs) paying up to 9% can be good candidates – if you choose wisely.
You’re probably familiar with their mutual “cousins”. Closed-ends are a bit different. While mutual funds tend to buy individual stocks and mirror the market, CEF managers tend to have wider mandates and longer leashes.…