Hypothetical: how would you create a "simple" (for conversation purposes, let's just say a basket of no more than 10 investments of any kind) investment strategy for someone who has a guaranteed income of nearly $1M a year for life? Some weird details: state income taxes do not apply, only federal. All the normal investment strategies for a working person involving risk/reward, saving for retirement, and the like are not considerations. There is a guaranteed $80K-ish in cash (ordinary income) regular as rain until the day they die.
My initial thoughts are a mix of muni bonds, T bills/bonds, maybe some stocks in a separate brokerage if they want to just play around but not as part of the core investment strategy.
Any thoughts?