Peter Thiel spent Wednesday browsing various dividend ETFs in an attempt to squeeze out an extra $75 million or so in annual income within his Roth IRA account. Sources familiar with the matter say that the 1.78% dividend yield on the S&P 500 ETF SPY wouldn’t be enough for Thiel.
“$89 million a year in dividend income is good, but I think I can stretch my capital a bit more,” said Thiel. “I’m looking at some high yield dividend ETFs that might get me closer to 3% a year.”
Thiel has a comfortable $5 billion in his Roth IRA, but like many Americans is nervous about being able to live comfortably in retirement.
“I have a pretty good nest egg, but I just want to make sure I’m taking care of my needs today and still growing the capital over time.”