Investors who are approaching retirement, or early into their Golden Years, overwhelmingly put a higher value on guaranteed income than investment gains, according to a new report.

The study found that 83% of investors between the ages of 55 and 70, and who work with a fee-based advisor want their advisor to focus on guaranteed income. Ninety-seven percent feel asset protection is also a critical issue.

A majority of investors, 86%, also expressed interest in products that guarantee income for life, but also allow some exposure to the stock market, according to the survey.

The study was conducted by Mathew Greenwald & Associates in Washington, D.C., for Fidelity Investments.

The desire for income, asset protection and stock market exposure point to annuities as a possible solution, but the survey found that annuities are used by a small percentage of investors, according to Fidelity.

"Declining pensions, rising health care costs and greater longevity are requiring investors to personally save more for retirement; yet unprecedented market volatility continues to threaten the personal savings individuals have," said Joan Bloom, executive vice president of Fidelity Investments Life Insurance Company. "This makes it even more important for older Americans to work with their advisors to understand, and consider, all of their retirement income options, including annuities."