If Interest Rates are Lowered – What Seniors Should Know

Money jar filled with coins

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Interest rates are expected to go down even further which could affect those with CDs or interest-bearing savings accounts. Some seniors may want to put their money into a riskier investment in order to see a larger return, however, advisors that work with seniors are saying they should avoid larger risk, larger reward investments as they could lose funds they need to maintain their lifestyle.

Yet those same seniors need to also understand they may have to contend with a period of time with low-interest rates. Overall, advisors say seniors should have 3 – 5 years’ worth of expenses in accessible funds.