[jessriedel]

This Vanguard annuity paying $1k/month starting at age 65 costs $168k, i.e., 7.1%.

https://investor.vanguard.com/annuity/fixed

If you just directly attached this to a dummy pot of $120k, you'd have a $1k/month annuity at age 55 for $288k, which is already 4.2%. It also comes with the significant bonus that your estate keeps the $168k, plus what's left of the $120k, if you die before 65.

So basically, I just think there are much better annuities out there than what you found.