You are under the persistent mistaken impression that a person who invests 25x their annual budget with a 60/40 portfolio runs out of money after 30 years.
Ok, but my only point is this. If you did make 6% annualized with your 60/40 and withdrew the same amounts, at the same frequency, for the same number of year, as my 6% IRR annuity, your account would be $0 after 30 years, 100% of the time. That is all.
I'm not saying the annuity is better or even a reasonable choice for many, only that if I lived 30 years after annuitizing, my outcome would be the same as the one described above. It might not be enough of a return for you, it might be good enough for me.
P.S. on your points about miscalculation, I still think my calcs are fine. Maybe someone can clear that up. We don't agree there. My inputs and assumptions seem perfectly fine to me.
Lastly I really don't see why you think an insurance company would not pay an IRR of 6%. An annuity is just a very, very, long term bond, there are 6%, 30 year bonds out there today. A state pension plan that I am aware of currently assumes a ~8.5% annualized investment return, they could easily pay 6% if they had to. Why couldn't insurance companies do the same?
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