Core Insights - The transition from accumulating wealth to living off it can be challenging for retirees, particularly when moving from a steady paycheck to a fluctuating portfolio [1] - The financial landscape now offers "paycheck replacement" options, such as high-yield ETFs, which provide reliable monthly income without the need to sell assets [3] Group 1: Importance of Monthly Income - A shift to monthly income is critical due to market volatility, which is inherent in investing, making traditional withdrawal strategies less effective [4] - An income-focused strategy, particularly through high-yield ETFs, helps retirees avoid the risks associated with selling assets during unfavorable market conditions [5] Group 2: Investment Options - The Amplify CWP Enhanced Dividend Income ETF (NYSE:DIVO) is highlighted for its dual strategy of holding high-quality large-cap stocks and writing covered calls, offering a 4.55% dividend yield and a $2.08 annual dividend per share [6][7] - Other ETFs mentioned include the Virtus Infracap U.S. Preferred Stock ETF with a 9.36% yield, the iShares Flexible Income Active ETF yielding 6.13%, and the iShares Broad USD High Yield Corporate Bond ETF with a yield of 6.81% [8]