A Fed Rate Hike Could Actually Be Good News for Retirees. Here’s Who Wins

For most Americans, higher interest rates mean more expensive debt. But for retirees with substantial cash savings, the equation can flip: a Federal Reserve rate hike could put more money in their pockets without requiring them to take more investment risk. That makes the Fed’s next move unusually important for anyone living off savings. The real question for retirees is less about what the Fed does and more about what their cash is currently earning.Cash Could Become More Valuable AgainFor years, retirees were punished for playing it safe. Near-zero interest rates meant traditional savings accounts, CDs and other conservative investments...