An article from late 2012 is still relevant today, the Federal Reserve actions on interest rates while stirring economic activity has hurt those saving for retirement. As many of us know the Fed reduced interest rates to banks who in turn lent money to corporations and other borrowers at very low rates to stimulate manufacturing and the sale of goods and services.
These lower interest rates have helped the economy recover but it has also hurt those of us trying to save for retirement or other financial goals.
People usually save more as they near retirement. Now, the effect is magnified because Americans’ wealth has been depleted by the financial crisis, which decimated home values and retirement accounts…
While interest rates have started to climb, savings rates continue to lag behind. Many investors are delaying purchases or retirement due to lower savings rates.
To ensure sufficient income later in life. Americans will need to increase savings, delay retirement and prepare for changes to…Social Security and Medicare…
These are tough choices for investors as many are thinking about their future….
Six out of every 10 baby boomers between the ages of 50 and 61 say they may have to postpone retirement…
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Regular | $2,000 + |
IRA | $25,000 + |
Term | Interest Rate |
2 Year | 3.00% |
3 Year | 4.00% |
5 Year | 6.00% |
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