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Locking yourself into an interest rate for a long time period right now is like buying the stock market at the top. Get a high interest savings account with Wea

Locking yourself into an interest rate for a long time period right now is like buying the stock market at the top. Get a high interest savings account with Wealthfront at 4.55%, for example. You’ll be glad you did when rates hit double digits over the next decade. Rates aren’t going back to zero ever.

iakh 3y ago
interest rates have been falling for over 700 years [1]. I wouldn't bet against that over a single unprecedented year 1. https://www.bankofengland.co.uk/working-paper/2020/eight-centuries-of-global-real-interest-rates-r-g-and-the-suprasecular-decline-1311-2018 https://www.bankofengland.co.uk/working-paper/2020/eight-cen...
- thegaulofthem 3y ago
  It is more than a single year and this happened during the 1970’s and 1980’s stagflation era. Of course worse inflationary crises have happened in Western history and while they returned on a large enough time scale that really didn’t matter all to much for all the poor citizens for whom their hard earned wealth was nukes from orbit.
- Mat3777 3y ago
  Isn't this cherry picking data?
fragmede 3y ago
Your time machine is as good as mine. Rates can keep going up and up and up like the 70's, or they could crash back down when AI and robots put us all out of jobs, or the dollar could become worthless along with everything else after a nuclear holocaust.
dc_rog 3y ago
You can do both to hedge that interest rate risk. Some fixed, some floating. No one knows where rates are headed and savings account providers can change rates at any time.