Tax traps are waiting. Did you it’s possible to be smack in the middle of the 22% tax bracket, yet taking an additional $1,000 in income could make that additional money taxable at 40%? It can happen to some taxpayers. In fact, there are other pitfalls many aren’t aware of, as well.
Longevity risk is real. Accumulating assets for retirement was a lot easier than managing retirement income. Now you practically have to be an actuary to make sure your money doesn’t run out before you do!