Retirees Income Being Slashed Falling Interest Rates | What To Do

Central banks cutting interest rates mean falling incomes for seniors who are retired on fixed incomes.

What can you do about it to preserve and boost your income level in retirement, join us for a chat about solving this important issue.

Books we are reading Amazon Affiliate Links

If you enjoyed the video please subscribe, like and turn on notifications, thank you ❤️

#retirementtravel #this_is_our_retirement #howtoretire #retirement

We are members of the Amazon affiliate program, these links contain a referral code where we earn a small commission on your order, you do not pay any extra at Amazon by using our referral link. Thanks for supporting our channel.

Our Favourite Amazon finds

Our filming equipment for YouTube contain Amazon Affiliate links

NORM & TINA'S MOST POPULAR YOUTUBE VIDEOS

What shocked Us Living In Canada | Moving From The U.K.

What Shocked Us First Trip To America - UK Canadians

Things We Wished We Knew Before Retirement

Average Net Worth Of Retirees At 65 - How Do You Compare

How Much Is Winter In The Algarve Portugal - We Show You

All Photographs and Video Clips are the copyright and owned by ©This Is Our Retirement and cannot be used without permission.

#This_Is_Our_Retirement

WE ARE NOT FINANCIAL OR INSURANCE ADVISORS, WE ARE NOT QUALIFIED TO GIVE FINANCIAL AND INSURANCE ADVICE, THIS VIDEO IS FOR INFORMATION AND ENTERTAINMENT PURPOSES ONLY. PLEASE SEEK OUT PROFESSIONAL FINANCIAL AND INSURANCE ADVICE BEFORE MAKING ANY INVESTMENT DECISIONS AND PURCHASING INSURANCE.

[ThisIsOurRetirement]

We are NOT giving financial advice, we are explaining what we are doing financially. You should seek professional financial advice from a licensed professional.

[Austongold]

You folks are really aware of what us seniors have on our minds.... That's very nice 🌿

[DstewA]

Hello you Two. Glad I found your channel. Still working at 67. I hope To make it another year until I retire if my health holds out. I have just enough to pay the bills and buy groceries so will have to budget but I am not complaining. Could be worse. Thank you for giving people who have not saved much for whatever reason. Your channel is a blessing😇

[poges]

Thanks for all the great tips. I do GICs and am emergency fund. I'm glad that the mortgage rates are down my 30 something kids.

[stuartholmes]

Impressed with your joint financial knowledge...Bravo

[MrKevinbeagle]

We are retired and I can highly recommend a few ways to save quite a bit of money and both involve Amazon - when Prime and Black Friday deals are coming up - make a list of items you buy regularly (for us it’s pet food and pet treats ) then when the sales start keep checking for deals on your items and buy as much as you can safely afford - secondly is subscriptions with Amazon - we have our pets favorite food on subscription with them and each two cases saves us $11.00 over our local Walmart price for exact same thing - this adds up - each year we save about $200 just on this one thing. Walmart Plus also offers subscriptions too. But I must reiterate that you only buy things that are regular purchases for you, don’t get caught up in sales frenzy just because something is cheap

[madhuvijai]

super helpful ..loads of commonsense .. full of happy optimism..thanks

[daviddean]

I’m very impressed with this video and I’m gonna watch it again tomorrow and make some notes and check out these apps. Thanks for all your hard work Norm and Tina.

[theneverendingjourneyoflif]

What a relaxed well done video today. Your words are just tripping off your tongues! You guys will soon have a show on CBC! :):)

[herculesrockefeller]

When I was younger, I heard of seniors constantly cashing in CDs and moving their money around, then my parents started doing it, and now I’M doing it.😄
I buy “in bulk” when things are on sale, and stick it in my freezer, if it is amenable to that. It’s nice to have things on hand and not run to the store all the time.
Also, have you heard that Amazon may soon offer internet to Prime members? Might be in the works.
Good job, guys!

[Vic-nrjz]

Love the colors you two are wearing. Looks good on you😊

[georgerankin]

Today's video is timely. I need to top up my RRSP's. Tangerine is offering a full percentage rate higher than Scotiabank on their GIC's.

[Northern_Squirrel]

Thanks for this video Norm and Tina. Definitely there are pros and cons to falling rates. As for stocks purchase, I bought a bit more of TD and Telus 😀 today since both of them were beaten down for various reasons. I am in for a long term so not worried about short term volatilities.

[RetiredLovingIt]

Great info guys! There’s always those ups and downs that we face in retirement

[johnristheanswer]

That investment in Bank of Canada has been a good one. The banks over here in UK ( Natwest, Lloyds, Barclays etc ) have done terribly over the last 10/15 years or so . Good pick.

[sn]

What a lot of people don’t know, is that Costco can Home deliver dry goods. This is a specially helpful for seniors, not to have to carry that large packaging.

[calr]

I’ve been retired since 1999. My experience has been interest rates go up and interest rates go down. The stock market goes up and the stock market goes down. The genius is the person who can grow your retirement account. I can say that I haven’t found that person yet. Even from the Barron’s top 100 list.

[murraytown]

Correct me if I am wrong but depending on when this was recorded, the BoC has cut the rate 3 times (75 BPs) already as of today. I have no debt so this has no impact on me. However, as you point out, the markets are on a bit of a tear, which, for me, negates the downside risk of falling rates. My TFSA is my emergency fund. I’m invested both in cash in my RRIF/TFSA for the short term and in stocks and bonds for the long term. So, I’m happy to see falling rates.

[barfed]

We "parked" a big chunk of liquidity at a fixed interest rate (5.25%) annuities for 7 years with deferred taxes. We have access to 10% of funds each year if we need it. It generates quite a bit of money, which we don't need to touch yet. I guess everyone knew that high interest savings account deals won't last forever, so we were looking for ways to lock higher interest rates for a longer period of time. Worked out great for us.

[rkw]

As a Swiss resident I have not seen a penny of interest since 2007
Suits me fine as the franc has appreciated substantially