Fed Interest Rate Cut May Slam Seniors Security

Interest rates are at their lowest point in 45 years. Home buyers couldn’t be happier, but experts caution another Fed rate cut could put seniors in big trouble.

(PRWEB) June 26, 2003

Interest rates are ready to drop to the lowest that they have been in 45 years. Home buyers couldn’t be happier, but another rate cut will put seniors in big trouble.

    Â“Seniors are already reeling from low interest rates on their savings” says James Trippon, financial author and CPA, “A further drop in interest rates could push some seniors over the edge.”

    Trippon, a retirement planning expert and former Price Waterhouse CPA, recently completed a study of 537 retirement-age millionaires and documented their money habits. The study showed that over 20% of people who have retired with money in the past four years have been forced to go back to work just to survive.

He has three (3) suggestions for seniors struggling from lower interest rates on their savings:

1.    Make interest rate cuts work for you by refinancing all your existing debts.

2.    Re-examine your cost of living and cut back spending to make up for lower interest income.

3.    Consider tax advantaged alternatives to savings accounts given the new tax law changes.

For more information and to schedule a spirited and provocative interview about money issues with Trippon, call Jordan Rittenberry at 832-277-6940.

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