Funny. The rates posted in the G&M for 60 yr old female are about $438 / month for 100 K, or 1,752 K / month for 400 K which is about 21K per year, not 24K, unless the adviser knows where to get better rates.

So that would be about 5.2%

You could probably generate something close to that rate (including stock gains) in the stock market by sticking to safe stocks like the banks. And you'd still have the 400K to spend as well.