Savings Strategies Reevaluated Post-Rates

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Business & Economics

With interest rates dropping, it’s time to rethink your savings strategies. Here’s how to make your money work for you

Summary

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67% Informative

Federal Reserve Board (The Fed ) started dropping interest rates last fall , thus reducing the yields on high-yield savings accounts and money market accounts.

Callie Cox , chief market strategist for Ritholtz Wealth Management , pointed out that the past few years of rising rates “led to really attractive reasons to save cash” But with rates dropping, it’s time to rethink your savings strategies.

Because in retirement, your main income isn’t your job anymore, it’s your portfolio.

The one clear exception to saving cash is your emergency funds, Cox said.

For those funds, she said, “You can't always trust the stock market.”.

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informal

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English

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