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There’s nothing that better fits the definition of “double-edged sword” than rising interest rates.
If you’re a saver, you love the idea of rising rates. It’s been years since we’ve had bank accounts and other safe havens paying more than a pittance.
But if you’re a borrower, you’re no fan of rising rates, since that means paying more for everything from credit card balances to home mortgages.
Investors also prefer lower rates, since cheap money leads to higher asset prices, as you’ve doubtless seen if you’ve bought houses or stocks over the last few years.
No matter who you are — saver, borrower, investor or any combination thereof — your world is about to change. Because the nation’s central bank has signaled that within a month or so, rates will rise.
Most experts predict the Federal Reserve will hike the federal funds rate by at least 0.25 percentage points at its next meeting in mid-March. And experts are forecasting as many as five additional rate increases before 2022 is over.
Therefore, whatever your situation, now is the time to prepare.
That’s what this week’s “Money!” podcast is about. We’re going to talk about specific moves everyone should be considering in the weeks and months ahead.
As usual, my co-host will be financial journalist Miranda Marquit. Listening in and sometimes contributing is producer and novice investor Aaron Freeman.
Sit back, relax and listen to this week’s “Money!” podcast:
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- Listen on Spotify
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Show notes
Want more information? Check out these resources:
- 8 Ways Higher Interest Rates Could Affect You This Year
- Kiplinger: How to Benefit From Rising Interest Rates
- Investopedia: How to Invest for Rising Interest Rates
- Lineweaver Financial Group: 5 Ways To Benefit From Rising Interest Rates
- Financial Samurai: How To Invest And Profit In A Rising Interest Rate Environment
- Seeking Alpha: Positioning A Portfolio For Rising Interest Rates
- Kiplinger: 6 Best Mutual Funds for Rising Interest Rates
- Kiplinger: 7 Best ETFs for Rising Interest Rates
- U.S. News & World Report: 7 ETFs for Rising Interest Rates
- CNBC: Here are your best money moves before interest rates rise
- The Balance: Best Bond Funds for Rising Interest Rates
- Stacy’s stock portfolio
- Subscribe to the Money Talks News newsletter
- Take our course The Only Retirement Guide You'll Ever Need
- Take our course Money Made Simple
- Miranda Marquit’s website
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