Something you may typically associate as bad could actually be good news when it comes to your nest egg in your golden years.
Higher interest rates are considered negative if you’re borrowing money for houses, cars, and credit cards. However, it’s a good thing if you’re investing money, said Tom Jacobs, the founder and owner of Jacobs Financial Services. With interest rates currently being elevated, now is the time to take advantage of higher CD, money market, and annuity rates, Jacobs said.
Jacobs shared another piece of advice when it comes to saving for retirement. “Put your money in a spot where it’s principle protected,” he said. “No matter what happens in this crazy world, your money is safe.”
Watch the video above or click here to learn more about Jacobs Financial Services.