It's not unreasonable. After some bond funds doing less-that-what-I-expected-of-them, when I laddered my first five years of retirement loot to live by in the last month, I bought government securities via Schwab (maybe the auction would have been better, but I just wanted to get it done, and not gain or lose a few basis points), no complex array of "is this any good or not" and I'm holding them to maturity.

Interestingly, for the latter years of the ladder, annuities were better than the 5 or 10 year treasuries, so that's what I did. Sure, high surrender fees, but I'll concede that for 0.9% above what treasuries maturing at the same time presented. These were NY Life and/or USAA, I forget, but not Big Al's Discount Annuities.

Berkshire Hathaway FAQ

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