We have a property that we have refinanced and gotten essentially our initial investment back out.We are collecting a nice annuity to sit and wait while the neighborhood continues to improve, and our exit might be us building a duplex, or us selling to a developer. 

My friend has close to $100k combined in her retirement accounts, a 401k and some annuity.

Annuities are excellent tools and GUARANTEED to NEVER loose money.  

IF there motivation is to spread there tax income into a form of annuity they probably dont want you to refinance anyway.

Steady inflation-adjusted income comes from real estate rentals (annuities are crap!)

I focus primarily on the Medicare (65+) market, life/health/annuities.

That means that in a fair game, you would have a chance to win 584 million bucks with your one ticket, so of course, you would never play until the jackpot hit that number.Let's ignore all chances of a split jackpot and of course let's ignore the annuity option if you win, because I'm way too lazy to calculate how crappy a deal that is with inflation.

I look at it comparable to buying an annuity with no fees, a generally higher than market interest rate and no counterparty risk.

Purchase a annuity with part of it...., 2000.00 a month SS, 1000.00 a month cash flow off my 4 flat, 401k savings. 

They're in it for immediate compensation when the goal should be long term relationships which would in turn provide an annuity of income.