On Sundays, we post shows from Financial Life Planning with financial advisor Mike Morton and man-in-need-of-advice Matt Robison. This week: we have interest rates now, so what does that mean, in a nutshell, for our daily lives. And is there anything we need to, you know, DO about it?
The answer is: YES! We cover:
- Mortgage Rates - How the increase affects your payments (not in a good way!)
- Home Equity / Construction Loans - You might want to think twice about borrowing for renovation projects and why I paid off my HELOC.
- Savings - You will finally earn some interest on your cash
- CD’s - Some brokerage products are offering 3%-4% interest, something we haven’t seen in almost 20 years
- Stocks - It’s like Black Friday: with the 20% market decline now is a (better) time to buy stocks. Stay invested for the long run.
