Well, this would be a no-brainer to me.
You can have a 100%-proof and safe income and still keep the original money.
Here is my calculation, done conservative:
You see, you can have an income - after taxation - of 46071,4 US $ (based on an interest of 5%, which you will probably top) and a tax rate of 30% (which on such an income you can work around too, but let us accept this for the sake of the argument).
14 yearly rates of income, including 1 for the christmas holidays, and 1 for your summer holiday or somethign like that.
The concept I got from a feature the lottery over here offers - a life-long pension. This works like this: The lottery company puts a million o rtwo, in a life-long bank account in your name and the bank pays you the interest while the original money doesn't get touched. Because they know they can work with it forever, they pay extra special rates. And you can have a charity fund in your name behind when you die, and let your name live forever
Well, If we assume that we can push that interest by saving on taxation etc, I guess we could get 60 K per month but that would be great living either way.