Several studies have shown that many retirees are so worried about running out of money that they're unwilling to spend their savings, even if they've accumulated a substantial nest egg. Most pensions are also funded with pretax income, so you'll pay taxes on that money at ordinary income tax rates, too, when you get your payments. Deferred annuity payouts, like immediate annuity payouts, are tied to interest rates, so if you believe rates are going to rise, you may want to postpone investing. You can invest up to 25% of your IRA or 401(k) plan (or $135,000, whichever is less) in a deferred-income annuity without having to take required minimum distributions on that money when you turn 70½. [Extracted from the article]
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