I’ve talked in the past about the benefits of off-loading risk to an insurance company to create a pension in retirement. When certain cash flow becomes a higher priority than investment growth, I’ve considered single premium immediate annuities (SPIAs) to do the job.
Another idea is a bond ladder. It’s a very unsexy solution, but may very well do a better job. I’m putting this article here while I develop this idea more.
A Pseudo-Life Annuity: Guaranteed Annual Income for 35 Years by Robert Muksian, Ph.D.