What does living on a fixed income mean, exactly? Living on a fixed income generally applies to older adults who are no longer working and collecting a regular paycheck. Instead, they depend mostly or entirely on fixed payments from sources such as Social Security, pensions, and/or retirement savings.

Unlike variable-income securities, where payments change based on some underlying measures, usually interest rates, the payments of a fixed-income security are known in advance, set at a specific interest rate which does not change.

As a fixed income analyst, your job duties include researching current news and trends the financial markets, evaluating debt and fixed income securities, modeling the financial stability of businesses, and preparing reports about your findings.