Are annuities, bonds or GICs best for an 80-year-old’s money?

An 80-year-old with a younger spouse, a solid pension, and a portfolio built mostly on equities worries that rising rates could knock down stock values and wants something steadier for the money set aside for travel. This piece treats annuities, bonds, and GICs not as rivals but as tools, each suited to a different job. Allan starts with the questions that actually matter at this age: how much income the surviving partner would have, and whether basic needs are already covered. From there he weighs guaranteed income against flexibility, noting that an annuity creates taxable income every year whether you need it or not, while GICs and bonds differ in liquidity and in whether you'd really pounce during a downturn. Rather than converting everything, he leans toward a laddered approach that funds near-term spending while leaving the rest to grow. It speaks to older couples easing risk without abandoning growth.