Which of the following is NOT a proper approach to offsetting market volatility for a retiree?

A$)$

Annuitizing a portion of the client's retirement portfolio using a fixed annuity

B$)$

Setting aside $3-5$ years of living expenses in short$-$term fixed$-$income investments

C$)$

Establishing a well$-$funded emergency fund

D$)$

Focusing only on stock funds with the highest return over the last $15$ years