I HAVE EXPERIENCE & KEEP IN MY MIND I DONT LIKE LEVERAGE
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Average SPY return is 11-12%;
is $5,500 @ year enough?? Depends on how good a money manger ,debt free, business man you are. MORE than few have done it with much less;
but they were exceptional+ sometimes used leverage.
Paid for real estate,single good hunter or fisher helps, single, use budget, low taxes,+ making 25% on SPY like his year; but trading50k as per plan instead of 75K[25% on 50k, now 75k].
Some people live off the power grid [solar]for next to nothing, not me.
.I've used leveraged ETFs many times but cash ETFs some times, so no leverage could be an advantage.
Jim Rogers got divorced \his 1st wife wanted to buy furniture\oops, while he was trying to build his fund..............................................................