I love being an income investor because I let professional investors do all the heavy lifting. I simply purchase their closed-end funds and earn lovely yields on my money.

However, when I want more control of my money, I use the options wheel strategy. The options wheel consists of selling cash-secured puts and then covered calls.

If you can control your fear and greed, you can earn over 30% annual returns using the options wheel strategy.

The best strategy is to leverage both techniques for your portfolio. Personally, I like to allocate 85-90% to dividends and about 10% to the wheel. Your portfolio is up to you. Good Luck!