Steady 4-5% on $5 million?
bokonist: My personal planned allocation:
15% hand picked dividend stocks ( stuff like SXL, BPL )
40% dividend stock mutual fund ( DVY)
30% long term bond fund
10% gold
5%  treasury money market fund or CD'sDVY pays out a 3.9% dividend yield.  Dividends will rise as nominal national income rises.  The "general price level" will rise with national income minus productivity growth.  In other words, if you put 100% in DVY you will be able to get an annual return of 3.9% that will rise with inflation.  If productivity grows at 1% a year, then you will effectively get a return of 4.9% a year in terms of purchasing power.You might wait on buying any long term bonds though, until interest rates return to any sort of normalcy.(disclaimer: I'm not a professional, use at own risk, etc. etc.)