Due to the fact that I have the midas touch in reverse when it comes to investing, my wife and I decided that we should purchase a fixed immediate annuity when I retire. Is there a rule of thumb (like the 4% drawdown theory) as to what percentage of your 401K savings can safely be converted to an annuity? One advisor told me not to do it that way, but to simply see how much of a monthly deficet I am running (income vs. monthly expenditure) and get an annuity that can fill that gap. Seems reasonable to me. Any thoughts or advice? Thank you for sharing your time and expertise.