<prompt> Human: My grandmother moved from her home to a retirement community last year, and she just sold her home for about 150k. She wants me to research mutual funds that she can put the money into -and- withdraw an average of 1600 per month. Am I right in telling her that mutual funds are the wrong way to go? Shes not going to find any funds that distribute 1600 monthly from 150k, and she needs this money to last at least 10 years. What can I recommend to her instead that will be stable and present minimal tax burden for monthly withdrawals?  <response>: At 90 years old and wanting to just get income from this and leave no principal behind, she is the rare and perfect case for an annuity. She should be able to get a bit over 1600mo. example 85 year old female quote was 1592month She may have some trouble getting someone to write one at her age but her age works in her favor for getting favorable payout rates. 