For those over 50, now is an opportune time to consider retirement planning and how to supplement Social Security income. With the average wage earner receiving only about 40% of pre-retirement earnings from Social Security, exploring alternative income sources is critical. This involves identifying ETFs that can provide steady income streams and help build retirement wealth.

Three ETFs are highlighted for consideration: the JPMorgan Nasdaq Equity Premium Income ETF (JEPQ), the SPDR Portfolio S&P 500 High Dividend ETF (SPYD), and the Vanguard Total Bond Market ETF (BND). JEPQ offers high monthly income but comes with volatility due to its tech-heavy holdings. SPYD provides consistent income through high-dividend stocks.

For those nearing retirement, BND offers a lower-risk option with investment-grade bonds, providing stability. Investors should consider their risk tolerance and time horizon when choosing. Pairing stock-focused ETFs with bond funds can balance potential growth and reduce volatility. Taking a more active approach to investing can yield better returns.

Ultimately, a hands-off approach to investing may not be the best strategy for everyone, especially when planning for retirement. Engaging with your investments and seeking professional advice can help tailor your portfolio to your specific financial goals and needs. It's time to rethink passive investing and take charge.