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tlswms,

The charitable annutiy may be what you are looking for.

You could calculate the amount of money for all of your expenses toward the end of life and then purchase the annuity to provide that level of income. With the remainder of your portfolio, estimate how long you would like it to last. Say 30 years, so that would be a reduction in principle of 3.33% per year. At the end of each year, take out whatever you have earned plus 3.33%. IF overall you lost that year, just recalculate starting with the current year as the "first" year.

After you reach your life expectancy you are left with just the annuity.

DrTarr
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