Interest rates are dropping, and that’s big news for your money.
Whether you’re saving, investing, or thinking about buying a home, these changes can affect your wallet in a big way.
Don’t worry, though – we’ve got you covered. In this article, we’ll walk you through six important things you should do right now to convert those falling rates to rising savings.
1. Don’t put all your eggs in one basket
One of the best ways to protect your savings is having money in different types of investments: ideally, ones that can go up when others are going down. For example, stocks tend to do poorly when inflation and interest rates are rising and there’s political turmoil brewing.
One investment that thrives in this scenario: gold.
Keep in mind, though, that not everyone in the gold business is on the up-and-up. Be careful who you deal with.
Preserve Gold is a family-owned company committed to helping investors protect their wealth and retirement with physical precious metals. They offer gold, silver, platinum and palladium coins and bars delivered directly to your home. Plus, enjoy up to $25,000 in complimentary gold and silver, along with waived IRA storage fees for up to 5 years!
They also lead the industry in retirement account rollovers and will help to facilitate a transfer from your current custodian into a precious metals IRA.
Preserve Gold will beat any competitor’s price on gold and silver, and offers fast, free, insured shipping. And once you’re a client, they’ll buy back your metals and charge no fees.
Gold has been hitting record highs. Why not take a look right now?
2. Invest like the 1% and get 9% returns
With rates finally falling, we’re all looking for safe ways to earn as much as possible on our savings.
For the rich, there’s always real estate. For example, the 1% can lend money to commercial real estate developers on a short-term basis and earn great interest rates.
Well, now you can do the same thing. With as little as $500, companies like Connect Invest can get you into a diversified portfolio of commercial and residential real estate loans earning as much as 9%.
They’re called short notes: essentially lending money to property developers and earning interest far exceeding what a bank would pay.
Here’s why short notes may be right for you:
- Start with just $500
- Short terms: Choose from 6, 12, or 24-month investments
- High returns: Earn up to 9% annualized interest
- Monthly income: Receive regular interest payments
- Diversification: Spread risk across multiple projects
Since your proceeds are secured by a diversified portfolio of loans, short notes are safer than most forms of real estate investing.
Whenever you lend for real estate, there’s always the risk of developer default. That’s why short notes pay more than the bank, and that’s why you’ll want to work with experienced companies like Connect Invest, who have the experience and know-how to minimize your risk by finding the best, lowest-risk deals and helping you diversify.
Until recently, us 99 percenters didn’t have access to investments like this. Ready to double your returns? Then take a minute right now to learn more about Connect Invest.
3. Make your home work harder for you
Why settle for less when you can create the home of your dreams right where you are? Or use the cash for anything else you need?
With today’s soaring real estate prices, a home equity line of credit (HELOC) could be the answer to unlocking your home’s full potential without breaking the bank.
Instead of stretching your budget on an overpriced new home, tap into the equity you’ve built to finance those renovations you’ve longed for. Upgrade your outdated kitchen, build your dream master suite, or finally add that home office. But the flexibility doesn’t stop there – use your HELOC funds for other goals like consolidating debt, paying for education, taking a dream vacation and more!
The best part? HELOCs typically offer lower interest rates than credit cards or personal loans since they’re secured by your home’s equity. That means big savings while you build lasting value.
Don’t wait any longer to unlock your home’s potential. Visit Money.com's home equity loan table today to easily compare HELOC rates from multiple lenders and find the most affordable option. With just a few clicks, you could be on your way to an envy-worthy dream home or funding anything else on your list!
Money.com home equity loan table
4. Stop throwing away $800+ on your auto insurance
How would you feel if you found out you’re throwing away $800 annually just to pad some insurance company’s bottom line?
It’s very possible. But there’s only one way to know for sure.
Take a minute and use this new insurance shopping tool from FinanceBuzz. It can tell if you’re overpaying for your car insurance with just a few clicks.
Savings will vary by driving history and how many discounts you’re eligible for, but don’t be surprised if you can find the same coverage for hundreds less. And if not? You’ll get peace of mind by knowing you’re already getting the best possible deal.
To find out if you’re losing up to $800 or more a year, just click this link, answer a few questions, enter your ZIP, email, and phone, and within two minutes you’ll see if you qualify for a lower rate.
5. Invest now for a stable monthly income for life
The clock is ticking. The government has said rates will start declining this year, and the interest on savings accounts and CDs is already starting to come down.
Now’s the time to lock in a high rate on your savings before it’s too late.
With a Gainbridge® SteadyPace™ annuity, you can lock in a guaranteed 5.65% APY — that’s four times higher than the national average CD rate!*
Not only does Gainbridge® SteadyPace™ provide higher returns, it allows for your savings to grow tax-deferred, making your money work harder for you.
Gainbridge® also offers the flexibility of free withdrawals of up to 10% in aggregate, beginning in the first contract year, with no hidden fees.**
Get started today and beat the banks at their own game! Click here for information about SteadyPace™ and lock in your 5.65% APY today.***
*Source: Bankrate.com, national average of 3-year CD, week of 12/28/23.
Rates subject to change.
**Withdrawals prior to age 59 ½ will be subject to a 10% federal tax penalty and if taken before maturity and above the 10% free withdrawal amount or MD may be subject to a withdrawal charge and a market value adjustment.
***Rates are subject to change at any time, and the rate mentioned may no longer be current. Please visit Gainbridge.io for current rates, full product disclosures and disclaimer. All guarantees are based on the claims-paying ability and financial strength of the issuing insurance company. SteadyPaceTM, a multi-year guaranteed annuity, is issued by Gainbridge Life Insurance Company in Zionsville, Indiana on form number ICC22-D-MYGA-BASE.
6. Double your retirement savings
To properly manage your money, work with a professional — it’s totally worth it. If you’re not doing this, you could be missing out on some serious financial gains.
A Vanguard study found that, on average, a hypothetical $500,000 investment over 25 years would grow to $1.7 million if you manage it yourself, but more than $3.4 million if you work with a financial adviser. That’s twice as much!
If you’ve got at least $100,000 in investments, check out a free service called SmartAsset. You fill out a short questionnaire and instantly get matched with up to three vetted financial advisers in your area, all legally bound to work in your best interests.
Even if you don’t want help picking investments, an adviser can help lower your tax burden, create a comprehensive financial plan for you, maximize your Social Security, and serve as a second pair of eyes to make sure you’re on the right track.
Using SmartAsset only takes a few minutes, and in many cases you’ll be offered a free consultation.
Please carefully review the methodologies employed in the Vanguard white paper, “Putting a value on your value: Quantifying Vanguard Advisor’s Alpha.”
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