Coming off a year with unprecedented interest rate hikes, everywhere you turn there is an advertisement for yields on CDs or other types of savings accounts. Clients are asking whether they should consider using these products, and if so, to what extent.
Hear Tyler Emrick, CFA®, CFP® discuss pros, cons, and alternative solutions and, more importantly, how you should think about the role cash has in your broader financial, retirement, and investment planning.
Here's some of what you'll learn in this episode:
What economic trends are we seeing in recent months? (1:52)
What are some alternative investments to consider? (6:58)
A story about someone we worked with who had much more cash than they realized. (10:38)
The cash discussion goes well beyond just an emergency fund. (16:08)