Historically, retirees have sought the safety of bonds for much of their retirement savings. But with bonds yielding so little, what's a retiree (or near-retiree) to do?
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As detailed in our October issue, money-market mutual funds have fallen on hard times. That's a shame.
Here's a quick primer on money funds from The Sound Mind Investing Handbook:
[You can lend your money to] "big time"
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Money-market funds aren’t what they used to be. Not that long ago, they were paying about 2.5%. I should know. Because of that great rate, and in the interest of simplifying our household’s financial life, in the spring of
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Money-market funds are no longer attractive alternatives for your savings. And they're not likely to be good options again any time soon.
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If you're retired, or close to retirement, having plenty of cash on hand allows you to take a bear market in stride. You can calmly wait for your stock-based investments to recover.
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By protecting you during life's short-term financial storms, a well-funded emergency reserve helps ensure your longer-term financial well-being.
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The Federal Reserve cut the Federal Funds rate yesterday by a quarter-point to a range of 1.75%-2.00%. This was the second rate cut in just seven weeks and was a bit controversial, even within the voting members of the
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Being single puts the responsibility of preparing for your later years squarely on your shoulders, especially if you don’t have adult children. So you need to have a plan.
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Some Christian denominations offer savings-type accounts, then use the money from savers to make low-interest loans to denominational churches, seminaries, and missions organizations.
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In our household, we recently made some changes in where we keep our savings that I thought might be of interest.
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