Pretty much. Selling options without knowing 110% about what you're doing can potentially eradicate a life's work of wealth or worse. Sure, it takes some time before disaster to happen during which you think you are doing great. If you don't intend to put months or years of full time study into it, just getting better in what stocks you buy is a better fit. For the ultimate lazy ass (or smart person realizing they can use their time elsewhere), buying SPY & QQQ still works for the time being. Although I'm a bit afraid the best advice for the past decade won't be as advantageous going forward the next 10 years (at least for US equities). It's natural for everyone to look at the graph of QQQ at this juncture and say that passive investment rocks, when it's just a form of backtrading.
IMHO, live off what you've got, I've seen so many people try that and just end up 200K down and a lot of stress for your trouble aswell, then add another 200K and revenge trade, then another 200K till there poor and homeless. If total wealth is 800K say, age 45, base on average+ age 85 so live on 20K per year + any interest you can make ( not much these days ), if your 65 then 40K per year, if 75 then 40K still enough. Trading is a poor mans game / chance of getting rich, rich people just get gobbled up and spat out, they hate poor trades and love rich traders.
For now i use about $40k writing covered calls and/or write cash covered puts for something i do not mind to own. Sometimes i do index vertical spreads risking a few hundred dollars.
Here is the bad news you will likey have a year from now, you list all your money. You are not understanding thd risk in your strategy.
How much money are you willing to lose per day? Once you have arrived at a target value, multiply this amount by two and expect to lose this for the first several months. This will be your education fee.