Ep. 84: Real Income in a Low-Yield, Late-Cycle Market — Small-Cap Rotation, Defensive Dividends, VIG Over Headline Yield & Covered-Call Income Without the NAV Bleed

6 curated sources on getting real income in a low-yield, tech-concentrated, late-cycle market without wrecking capital: (1) 24/7 Wall St — Russell 2000 +18% YTD small-cap rotation away from concentrated large-cap tech, 5 high-yield R2K dividend names (SSTK 9.33%, UVV 6.16% Dividend King, OXM 7.71%, HVT 5.42%, KRNY 5.08%); (2) YouTube — don't time the crash, own defensives: the MRK/ABBV/KO equal-weight trio (+28% in 2022 vs SPY -18%), stay invested; (3) YouTube — how to tell which covered-call ETFs destroy capital: constructive vs destructive ROC, ATM vs OTM calls, zero-DTE erosion, the 3-year rule (QYLD/RYLD ATM bad, JEPI/JEPQ/SPYI/QQQI better, GPIX variable override); (4) Vanguard ETF Report — VIG over VYM: dividend growth + total return beats headline yield, VIG drops the top 25% yields and tech-tilts (AVGO/AAPL/MSFT); (5) YouTube — 4% rule vs 8% rule vs income investing: income (~11% blended) needs less capital and never sells shares, but NAV erosion/distribution cuts/sequence risk are real; (6) 24/7 Wall St — SPYI 12% covered-call income fund retirees use to replace bonds (caps upside/full downside, ROC/§1256, 5-15% sleeve not a bond sub). Dropped a YieldMax-cheerleader clip (GPTY/LFGY) and the ODTE single-fund promo as redundant with the covered-call thread.