Answer
Fatigue failure in wave springs usually initiates at the inner or outer diameter of the wave peak where tensile stress is maximized. Using the Goodman Criterion, the safety factor $S_f$ can be estimated by $\frac{\sigma_a}{S_e} + \frac{\sigma_m}{S_u} = \frac{1}{S_f}$, where $\sigma_a$ is the alternating stress and $\sigma_m$ is the mean stress. Common failure triggers include hydrogen embrittlement in carbon steel (SAE 1070) if not properly baked after plating, and surface pitting in corrosive environments which acts as a stress concentrator. To extend life, shot peening the surface can induce compressive residual stresses, effectively shifting the mean stress downward.