that works as long as there is a sophisticated investor at the wheel. Perhaps, if something goes wrong, there would be a house that could be sold to finance the last mile.
For some, you have to think ahead to who your spouse will be depending on emotionally after you croak, and how they may try to influence or take over or outright steal the investments.
An auto transfer of your portfolio into simple annuities would eliminate a lot of these risks, and this is what I have told my mother to do should I predecease her.
My wife will never consider converting cash to income, and will therefore work longer and live smaller, and make our neices and nephews very happy one day.
Amazon.com: Die Broke: A Radical Four-Part Financial Plan (9780887309427): Stephen Pollan, Mark Levine: Books