Global $840K Lifetime Income Choices

With $840K, conservative dividend portfolios near ~3%-4% generated about $2.45K mo, while moderate income mixes near ~5%-7% produced roughly $3.85K to $4.9K mo.
Aggressive income vehicles near ~10% lifted cash flow to ~$7K mo, while an immediate annuity in the high-7% range paid roughly $5.25K-$5.6K for life.
The annuity removed longevity risk but surrendered principal, reduced inheritance, and faced inflation drag; the dividend route started lower, kept principal, and offered payout growth.
The income gap can narrow over time: a ~3.5% starting yield growing ~6%-8% yearly could overtake a flat annuity within roughly 12-15 yr.
A split approach can use annuities for essential expenses and dividends for growth; match guaranteed income to fixed costs, then compare current quotes.