What Makes Annuitization More Appealing?

What Makes Annuitization More Appealing? (National Bureau of Economic Research)

"A majority of respondents prefer to receive an extra 'bonus' payment during one month of the year that is funded by slightly lower payments in the remaining months. Concerns about later-life income, spending flexibility, and counterparty risk are the most important self-reported motives that influence the annuitization decision, whereas the desire to leave a bequest has little influence on this decision."

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