“I’m waiting for interest rates to go back up so I don’t want to put my money in anything long-term.â€
In a low interest rate environment, many consumers are opting for guaranteed short-term rates waiting for improved rates in the future. While guaranteed interest rates offer some level of security, did you know there are financial solutions, other than Bank Certificates of Deposit (CDs), that provide a guaranteed interest rate? For example, Multi-Year Guarantee Annuities (MYGAs) offer guaranteed interest and show that “waiting†for a higher rate may not be the best option.