One approach I'm considering suggesting is annuitizing about 1/4 of her investable assets. That covers her expenses above what she gets in social security (SS covers 3/4). Giving her a baseline at least where she doesn't have to worry about her basic expenses being covered. I'm hoping with this she can be more comfortable with some of her investments fluctuating. Then perhaps with some funds set aside for some short-term spending goals, she can invest 1/2 in some type of "income" fund with a low stock component (say 20%), and the remaining 1/4 in a fund with a higher stock component for growth. Then she can just leave them alone, collect the dividends, no monitoring, no rebalancing, no nothing. In five to 10 years she can decide whether to take some of those longer term investments and annuitize again to increase her guaranteed floor. She would like to pass some along to children, so it's a balance between guaranteed income for her with a little growth, and still be able to pass some along.