Use annuities and short-term bonds as an anchor

Rand Spero, Street Smart Financial, Lexington, Mass.

"Choosing an immediate annuity plus short-term bonds can be an option to explore now for the $250,000 investment. One can consider diversifying the short-term bond funds to include a small portion of emerging market bonds that have higher yields and some growth possibility over the next 20-plus years. Overall, I would be cautious now given the current low interest-rate environment to get locked into anything long-term."