People planning for their post-retirement years often look towards various investment avenues to save money for a stable and comfortable life later. How well or poorly one manages their money during their working days decides the level of comfort they will have once they have retired. Among the many great investment avenues for the long term, annuities are a solid option. To get the best out of them , one must avoid these six common mistakes . Investing too much money in annuity Despite how great they are in accumulating money for future use, annuities have a reputation for being somewhat inflexible. Immediate annuities help return more ROIs than interest on CDs and similar fixed investments. The only catch is that investors have to give up control over their money to get the extra income. This is ensured when the investor gives their insurer a lump sum amount for an immediate annuity and the former cannot take it out at any point. In the case of deferred annuities, while people can withdraw cash as per their wants after they invest in them, the income guarantees are reduced once the withdrawals exceed a certain limit. For this reason, putting too much money into an annuity plan can result in a serious cash crunch/loss of liquidity for investors.