Originally Posted by Helen
Does this seem like a good idea?
I don't really like variable income annuities, if I wanted to fill an essential income gap I'd probably buy a fixed annuity as the guarantee is what I'd want. Then I'd use low cost mutual and bond funds to generate discretionary income. Of course you'd have to buy an annuity that gave you more than your immediate need for income to account for inflation.
Having a few bad stock market years might leave you short of income with the variable annuity depending on where the min annual income was set.