"Let’s say a retiree has a $500,000 nest egg and income needs of $3,000 per month. With GAB, they would get more than that in dividend payments, so they’ll never have to sell a stock. With SPY, the retiree’s income from that $500,000 is just $1,083 per month, meaning they will need to sell $1,917 per month of SPY to get the income needed in retirement. In other words, the retiree will need to sell straight into the market downturn. With GAB, one can hold back and wait."
This sounds great! Instead of needing to sell stocks during the downturn they will sell 10% of them for me in order to provide my dividend....