A Slow-Moving Problem Is Getting Closer

There will always be another scary headline, another unanswered question, and another reason to wait...

"The plans of the diligent lead surely to abundance, but everyone who is hasty comes only to poverty." — Proverbs 21:5

It's a great time to be a debt-free retiree or someone nearing retirement. Even if you still have a mortgage, chances are you locked in an ultra-low interest rate before rates increased a few years ago. The New York Times recently reported that a key interest rate has climbed to its highest level of President Trump's second term. Just a few months ago, many people expected rates to come down. Since then, renewed inflation concerns have caused many economists to believe rates could remain elevated for longer. What do debt-free retirees sometimes have? Discretionary savings. Higher interest rates generally mean that conservative investments may offer more attractive yields than they did just a few years ago. U.S. Treasury securities are often considered the closest thing to a "risk-free" investment because they are backed by the U.S. government. Today, the 10-year Treasury note is yielding around 4.7% , which is a noticeable difference from the period before the pandemic when it was often below 1.5% . But What About Inflation?

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