What about fixed with CoLA? Or is it that considered variable?
Can you suggest a complete strategy?
I ask the same question here
For example: 1 lifetime fixed now, and 1 30 year deferred lifetime now. Anything else, like an additional 10 and 20 year deferred now?
I plan on doing as you advised, staying with fixed immediate and deferred, just really unsure if some or all should be lifetime or period certain and the best method to layer and/or stack them.
Fixed with cola is variable, I'd stay away from that. I started buying annuities when I was younger than you, so the exact thing that I did would not be applicable, but this is what I would do if I were you.
1. Buy a home. That would be the absolute priority.
2. I don't have kids or anyone else that absolutely must have my inheritance, so I would get a longevity annuity that starts paying out at 80, fixed amount, without death beneficiary.
3. Get a deferred time-limited fixed annuity that starts paying at 60, and pays out for 20 years. That one will automatically have a death beneficiary.
4. Whatever is left, I'd put in a high yield bank account (although there are no high yields now, but the highest you can find).
5. Out of #4, I would buy $10,000 worth of iBonds every year (that is the maximum you can buy).
You are still young, and if you find out you can't live off of what you have, you can still go back to work in your 50s. You won't be able to do that at 80, so I would defer annuities for later. If there is a severe inflation at any point, that destroys the purchasing power of your annuities, you have your home, and you can sell it at inflated price after the inflation is over (in which case you will have to rent, but I would not rent unless I am forced to, by having to sell the home to compensate for severe inflation).