With banks, CDs, annuities, treasuries, and most bonds paying under 2%...I say an IRR of 10%+ is a decent play.

I don't have an IRA- but as a teacher I have  (in addition to a pension) a TDA which is a Tax-Deferred-Annuity which pretty much is a retirement account that gives me fixed 7% return on my money.

The deferred sales trust creates an income stream like an annuity.

not happening.Does this work like an annuity or life insurance policy?...

Obviously, if you are getting a retirement payout or have regular annuity payments setup, those would be used as well. 

I'm retired now, checked out annuities and none can pay me the $1,500/month unless I invest a good chunk of cash.

Our suggestion to mimic a full time job was to have her put the money that she had into an annuity or trust. 

I am in the steamfitters local 420 out of Philadelphia and want to start a stream of passive income to eventually walk away from my job and invest in real estate full time, I do have a pension and annuity as well so in order to proudly walk away from that and not worry I have to make all the right moves.

This is an IRA that is part of an AXA Annuity.

I think that *maybe* annuities fall under that rule too.