use the remaining $400K (after paying taxes) to provide a 360-month inflation-adjusted withdrawal rate of $570/month.I would much prefer to put the $400K into a diversified mix of large and mid-cap equities, then withdraw $1300 per month (adjusted upward annually for inflation) for life, with much left over for others to inherit. Easy, no fees, and a virtually certainty it will work like a charm.
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