Since you are retired the goal is to find the safest place to protect the principle.
There is nothing that is 100% safe, but annuities are a fairly good parking space.
You seem to know what you're doing and hopefully you did all your homework.
I'm also in the same position and the first thing I did was tally all my yearly expenses and deducted that from my net income after taxes. Once I realized that I could live comfortably on what the annuity was bringing in whatever was not tied up in the annuity I felt was safe to invest in the stock market.
Each person has to determine what is best for them, just do your homework.
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