Fixed annuities are contracts issued by an insurance company designed to help you set aside money on a tax-deferred basis. They’re safe because you earn a guaranteed rate of return during the growth period. When you’re ready to retire, you can withdraw a portion of your money or turn it into a regular income stream for the rest of your life. Your retirement nest egg is probably the largest amount of money you’ll ever need to accumulate. Plan ahead with a fixed annuity.