Lack Of Research
Not thoroughly understanding the annuity product leads to costly decisions.

Inflation
Failing to account for inflation diminishes purchasing power over time.

Overcommitting
Locking too much money into an annuity limits liquidity and flexibility.

Taxes
Not considering tax implications can lead to unexpected financial burdens.

Annuity Type
Selecting the wrong annuity type can misalign with retirement goals.

Health Status
Failing to consider life expectancy when choosing an annuity can reduce benefits.

Diversification
Putting all eggs in one basket with annuities can increase risk.

Spousal Benefits
Neglecting to add spousal benefits can leave a spouse unprotected.

Procrastinating
Delaying annuity purchases can lead to missed opportunities for better terms.