The Federal Reserve's interest rate hike — the first in three years — is a policy shift that will have a domino effect for retirees.
Those in retirement and those nearing retirement need to factor interest rates into their investment decisions. To explain what the Fed hike might mean, Yahoo Finance talked to several wealth management advisers and finance professionals.
First off, it's important to keep in mind that one quarter-point rate hike won't drastically alter anyone's fortunes.
"A single rate hike rarely helps or hurts a retiree outright," said Michael Cochran, chief investment officer at BentOak Capital in Fort Worth, Texas. "It reshuffles the deck where there are benefits, but also some pressures."
A rate hike could be good news because it means that savings yields will likely rise, said LendingTree chief consumer finance **** yst Matt Schulz.
#first #Retirement #chief #michael
Those in retirement and those nearing retirement need to factor interest rates into their investment decisions. To explain what the Fed hike might mean, Yahoo Finance talked to several wealth management advisers and finance professionals.
First off, it's important to keep in mind that one quarter-point rate hike won't drastically alter anyone's fortunes.
"A single rate hike rarely helps or hurts a retiree outright," said Michael Cochran, chief investment officer at BentOak Capital in Fort Worth, Texas. "It reshuffles the deck where there are benefits, but also some pressures."
A rate hike could be good news because it means that savings yields will likely rise, said LendingTree chief consumer finance **** yst Matt Schulz.
#first #Retirement #chief #michael
2 months ago
