The Federal Reserve is anticipated to lower interest rates at its September meeting, which could help reduce borrowing costs for consumers. Many are postponing large purchases amid high interest rates. For baby boomers, strategic financial decisions prior to the potential rate cut include exploring certificates of deposit (CDs). With appealing current CD rates, it is advisable to secure rates before any declines post-rate cut occur. Keeping a portion of retirement portfolios in cash offers protection from market volatility.
Interest rates have been frustratingly high for consumers this year. A lot of people are in a holding pattern on major purchases, like homes and automobiles, until rates come down.
There's growing consensus that the Fed will lower its benchmark interest rate during its upcoming September meeting. This could lead to lower borrowing costs for consumers.
If you're on the cusp of retirement, or already retired, it's important to have a decent percentage of your portfolio in cash to protect against market fluctuations.
CD rates are currently attractive, and once the Fed lowers rates, CD rates could fall. Acting sooner rather than later may help avoid losing out on better rates.
Collection
[
|
...
]