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Emotionally I don't think that plan works. After losing a good portion of the portfolio I think it would be highly unlikely that anyone would have the discipline to just throw in the the towel and buy the annuity. Good plan on paper, not realistic in practice IMO.
If you want to buy an annuity to lower volatility that's fine. If you don't, that's fine too. But thinking you can time the decision to just before the disaster....... good luck on that. Sounds like market timing to me.
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