Retirement Tip of the Week: If you’re sitting on a lot of cash these days, consider spreading some of it out to make the most of your future retirement income.
The saying goes, “cash is king,” but having a plan for how to make the most of it during a high-inflation environment is still the best strategy – especially for retirees and near-retirees.
See: ‘A plan to protect any excess cash is vital.’ As inflation sits at a 40-year high, here’s who has ‘too much’ in savings right now And while these accounts may not be beating inflation rates, they’re still more lucrative than savings accounts that have rates of less than a percentage point, said Devin Pope, a certified financial planner with Albion Financial Group. “For larger balances, that can add up to a lot of money.”
Also see: I-bonds offer mouthwatering yields – but there are some arbitrage opportunities available to investors as well