$10k gets you $32 a month, roughly. And that's not even an especially safe rate of return - true fixed income would be closer to 4% before inflation, i.e. 2.5% after inflation.
For example, the 30 year TIPS return at the moment is ~1% - I would consider that a truly "safe, real interest rate" return. By that standard, taking out 4% in real dollars has a significant chance of depleting your principal over time.
1% is way off.