She's in her 80's, widowed, like most,lost 40-50% during the last couple years, needs to earn about 6% on what she has, and is only earning about 2.5%. Has 33% invested in Tech stocks, the rest in other diverse equities, and a couple bonds. Broker advising a variable annuity - I feel as though there's a better way to stop her from withdrawing from the princpal each month, than an annuity. HELP!!!It's beyond comprehension that someone who professes to be a financial advisor would suggest that anyone in their 80s should convert their portfolio to an annuity. This would do nothing more than generate a huge fee for the broker, with a corresponding loss to the holder. If you simply put her money in intermediate term corporate bonds, with a dose in large cap dividend-paying equities, it would be easy to reach your desired rate of return. I would stay away from long term bonds. All in all, it's hard to believe that her existing portfolio is doing so badly, given the diversification you described.
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