I don’t question that at a later stage of life it will be advantageous to have some portion in an annuity but given the risk that an annuity has no inflation protection what is the overall allocations?


The general thing here is the same thing about the debates of taking Social Security early at 62 instead of deferring until 70.

If you don't have much money, you can't do it.
If you have a lot of money, you don't need to do it.

Those two cases cover the majority of people.
It's only the people who are in the in-between camp that realistically have an option. And that's a minority of people.


A thought experiment:
If you at 85 have $2,000,000 would you pay $100,000 to get $931/mo for the rest of your life? Why bother?
You could take 5% annual draw from that $2M which is $8,333/mo.

Heck, even with $1M a 5% draw is $4167/mo.
Would you give an insurance company 10% of your money just to get $931/mo?

For maximum safety, you could put the $2M or $1M in Treasury bonds and get 3%-4% dividends, which drops your effective draw to net 1%-2%.