Reported about 1 year ago
With interest rates expected to remain high in 2024, retirees and those nearing retirement have an opportune moment to manage their savings. By considering low-risk fixed-income investments, like Treasury securities and CDs, retirees can build a buffer to cover living expenses in the initial years of retirement. Additionally, certificates of deposit and high-yield savings accounts offering rates over 5% present a valuable opportunity to combat inflation. While cash accounts provide a safe option for short-term savings, investing in equities is essential for long-term financial security. By balancing high-yield cash investments with strategic stock holdings, retirees can maximize their investment returns amid the current interest rate environment.
Source: YAHOO