What Happens to Your Retirement Plan Now That the Fed Lowered Interest Rates?
by Jerry Golden, Investment Adviser Representative, President, Golden Retirement Advisors Inc.
Aug 09, 2019
3 minutes
News from the financial world has been confusing lately. Is the economy strong or about to bust? Is the inevitable recession close or still years off?
At the end of July, the Fed lowered its key interest rate by 0.25% to just below 2.25% -- the first time it has cut rates since 2008. But what does that mean for your retirement, particularly for new retirees who are ready to set up their retirement income plan and make other lifestyle decisions?
These new retirees for the most part have seen 401(k) and IRA balances grow. But now they must convert retirement savings to income.
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