Retirement elicits different feelings in different people. While other people really look forward to it, another set of people dread it so much. All of these most times depends on how prepared they are for it. Nowadays, one of the easiest and most reliable ways of preparing for retirement is by fixed annuities. They are so very reliable, premiums or subscription deposits are broken down into small amounts that can be payable easily without any problems. Hence, no matter your level of income, you can be able to afford a fixed annuity plan as a way of safeguarding your future so you do not end up depending on social security in retirement. Fixed annuities can be described as investment instruments that are interest dependent and usually intended for retirement savings or benefits. Normally, the premium is paid to the insurance company over time most of which the beneficiary or policy holder is in active service. At the expiration of such time or when the policy holder retires from service, the insurance company starts making monthly or periodic payments to the policy holder till the principal amount invested and the interest that accrued on it is depleted. Interest rates on fixed annuities usually range from 3 – 10 percent. Just the same way you find different branches on the same tree, there are different types of fixed annuities retirement plans in the market. Also, just the same way there are different sides to a coin, the various types fixed annuities have their own pros and cons. It is normally best for any intending subscriber to ask questions, make enquiries and do their own little research about the kind of fixed annuities plan they desire to purchase before putting pen to paper and parting with their own money. Most times this is a good thing to do so that you will be very sure that the product you are buying will meet your needs in retirement. In as much as fixed annuities differ; they have a whole lot similarities and features that are re-current in all of them. Some of these similarities may vary especially in options from one company to the other, but the basics are usually the same. For instance, one of the commonest features of fixed annuities is that they only require a onetime upfront premium payment. You may have to purchase a new annuity if you desire to make any future investment. There are no investments that are 100 percent loss proof. And with a serious increase in activities of con people around, the tendency to make mistakes can be very high. Fixed annuities are no exception to this rule. Although, they have been proven to be very low risk investment instruments, it is not advisable to purchase them hurriedly. No one investment is suitable for everybody or personality. It is safer to tow the path of caution when it comes to investment especially the kind of investment that has to do with your retirement. There may be rules, terms and conditions that apply to withdrawal schedules, interest rates, taxes on some of these fixed annuities. It is important to study the purchase documents and forms before signing them and parting with your money.