VYM
Vanguard High Dividend Yield ETF
stock NYSE ETF

VYM looks like SCHD too

I'm holding about $25k of ET & ENB in my taxable account and dripping the dividends. I would be comfortable buying more on major pullbacks. However, am investing more
of my taxable brokerage funds for retirement in CC ROC ETF's, such as QQQI, SPYI and GPIX. My largest holdings that generate income for me by far are my dividend ETF holdings (SCHD, VIG, CDGC, PVAL, FDVV, VYM, IDVO etc.) Some of these are held in my traditional IRA and some in my taxable. Oh, am holding a good deal of national muni bonds in ETF's in my taxable as well, for federal tax free income generation.

By 50/50’i hope you mean in equities you own , not total portfolio. 50/50 is a good start , but have a sizable amount in bonds, CDs and/or T Bills. Protect yourself to be able to endure the inevitable market downturn . You do not want to have to sell equities in a down market . Have enough in a cash bucket ,SGOV as an example, to hold you over until TBILLS or CDs mature so you do not have to sell . VYM as part of the SCHD split is s good one as well. I also like to put a small percentage in VTI as a growth fund. 5 to 7% .

Yes, very easily just live off dividends. Sell it and buy high yield low fee tickers ran by banks with a 1/5 of the liquidity. SCHB, VYM and JEPI are good ones.
Buy SPY, VT and QQQ with 2/5 or 3/5 of the liquidity.
TLT, GLD and SLV for hedging with the remaining amount. You’ll cover every market, have global coverage thru VT, have steady income thru high yield bank tickets and have good hedging.
Wouldn’t recommend retiring and quitting, definitely continue working. But you’ll be set in a decade.