If you’re making buy decisions based on the daily gyrations of the S&P 500, you’re setting yourself up for big losses—and costing yourself a shot at big dividends, too. Why? For starters, at a 1.6% average yield, the popular names simply don’t pay enough. You’d need to save $2.5 million just to generate $40,000 in yearly dividends! We need a better option—one that lets us save a reasonable amount of money (I’m talking $500,000 to $600,000 here) and still generate meaningful income. I’ll give you two of my best contrarian strategies for doing that in a moment. First, let me show you why it pays to be patient right now, even though many folks are rushing to buy stocks, with the S&P 500 up 14% as I write this.… Read more