Thank you all for your responses. One more thing. With his current portfolio if I put everything into bonds he would make about 21,000 annually. There is tremendous longetvity in his family with an aunt who just turned 95 and my Dad is in very good health. I am not opposed to using some or all of his principle, but I do want it to last. My concern is that now my broker wants to hire a money manager so that takes more of his money. It would be great if this person could guarantee his return but in the market today I doubt that. I guess am just disaapointed in my broker who I had too much faith in-fool is right! Thanks again for all of your advice.