Finance - Last call for high rates

[computerwiz]

Last chance to lock in your money for high interest rates (in the US).  They are more than likely going to start dropping in 2 days.

 

Consider opening a CD to lock in the rates....if you don't need to touch that money for a long time.

 

https://www.nerdwallet.com/best/banking/cd-rates

[Tortuga]

Just a side note: If someone is planning to retire from their job soon and if they are trying to decide whether to take their retirement annuity as a monthly payment or a lumpsum, the interest rates affect the lumpsum calculation. As the interest rates drop, the lumpsum calculation goes up, so over a set period of time the lumpsum at the prevailing interest rate will equal the annuity payment. As interest rates go up, the lumpsum calculation will be less, since less money is needed at the higher rates to match the annuity payment over a set period of time.

 

So, it you plan to retire this year and are considering taking a lumpsum, think about waiting until after the interest rates drop..