Investing in annuities can be a hot-button issue for some people. Some financial advisors love them and others hate them. I am more of an investment agnostic. I prefer to take a balanced approach when investing for retirement. I am likely to recommend a combination of safe and smart-risk options.
This is especially important for those in or beyond the 11 critical years of retirement. Those years are the five years before, the year of retirement and the first five years after retirement. Investment decisions made during this retirement "red zone" are critical to maintaining your best lifestyle once you enter the distribution phase. I have compiled the five biggest mistakes that I have seen retirees make when purchasing annuities.