@程宮_658 It's a bit long, so I have to start a new post to respond. Just sharing some thoughts, might not be useful, but hope it helps 🎑

If it's a passive portfolio, it's best to have no fewer than 5 and no more than 8 holdings; and you must research them thoroughly. My younger brother has a portfolio at HSBC that is cross-regional and cross-asset class, cash flow-driven.

First, I chose 20% $Realty Income MD(O.US) and 20% $Ares Capital(ARCC.US); one is a BDC asset, the other is a REIT, with low correlation in income sources and asset attributes. Over the past 10 years, ARCC and 30 years for O, their dividend records have been stable, growing, and verifiable. For income-type assets, I hope they don’t rise, just maintain stable dividends, or even grow slightly. Rebalancing itself is a compounding effect.

Second. Since I’m not very familiar with the AH market and see opportunities in the call/put spread, I decided to allocate long-term via covered calls. Here, I chose $A GX HSCEICC(03416.HK), also at 20% allocation.

Finally, you can allocate some companies you believe will perform well over the next 10 years based on your style—either dividend stocks or growth stocks. This part might drag down your rebalancing but could also bring excess returns.

Cash flow assets are simple: collect dividends, rebalance, and leverage the advantage of cash flow to smooth the return curve. Rebalance instead of buying low and selling high—turn buying low and selling high into a result of rebalancing, not the process.

Normally, I wouldn’t respond to such detailed customization questions, but I saw your post about volunteering 🎑 so I felt it necessary to reply 🥰👍 Wishing you prosperity and good health for your family 🙏