Your Survival Guy

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Take Action: Don’t Wait for the Best to Save You

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Wouldn’t it be a shame if, five years from now, you’re earning peanuts on your savings? That’s a real risk. Because if the Fed backs itself into a corner, the economy gets into a pickle (and who knows what else), it may be forced to cut rates. At least, that’s what the talking heads are saying.

You know I don’t like predicting interest rates.

Predictions are cheap. Everyone has one. And they’re not a worthwhile endeavor. I’m Your Survival Guy, not “Mr. What If This Happens.”

I like to take action based on what’s in front of me. And what I’m seeing now are attractive enough rates that I can sink my teeth into. Did you catch what I said? Let me repeat: attractive enough. That’s right. Rates that have some staying power. Notice I’m not saying “the best” rates. I’m OK with attractive enough. Too many investors miss the boat completely by waiting for the SSV “Best.”.

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Look, don’t take my word for it. Just look at the facts. Rates were nailed to the floor, pinning the saving class down like a defeated Antman. You know the Fed can use its “super” powers to make it happen again. Just imagine if rates plummet back to zero. There will be—not there might—there will be serious re-investment risk when your CDs come due. The sun may not come out tomorrow.

Action Line: Stick with me. Don’t get too cute with your cash. Lock some of it up with some decent enough yields that will last you a good chunk of your retirement. Don’t let “the best” get in the way of “attractive.” Put time on your side. When you’re serious, and you want to talk, let me know.

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E.J. Smith - Your Survival Guy

E.J. Smith is Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. His focus at all times is on preparing clients and readers for “Times Like These.” E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998. E.J. has trained at Sig Sauer Academy in Epping, NH. His first drum set was a 5-piece Slingerland with Zildjians. He grew-up worshiping Neil Peart (RIP) of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West (RIP JB) and Paris. Please get in touch with E.J. at ejsmith@yoursurvivalguy.com To sign up for my free monthly Survive & Thrive letter, click here.
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