Mark,I think expected longevity at 65 is more than 24 years, but the annuity provider most likely uses a 60/40 equity/fixed income split which, according to the data Vanguard provides, returned an average annual 9.1% for the period 1960-2005. And as clifp notes, the annual $7000 is fixed, whereas the 4% guideline assumes annual inflation adjustment.db
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