21st March 2018 2
When the Federal Reserve raises interest rates, you feel it.
“The Federal Reserve has its fingers in your pocketbook to a greater degree than the IRS,” says Michael Reese, a CFP professional in Traverse City, Michigan.
The Fed most recently raised rates in December and forecast that there will be multiple rate hikes in 2018, with the first one likely occurring at this week’s meeting.
The committee sets monetary policy, primarily by raising or lowering the Fed’s target for the federal funds rate, which is used as the benchmark for a range of consumer interest rates.
Here are seven ways the Fed affects your pocketbook.
Warren Buffett is one of the richest people in the world because he saved and invested – and didn’t follow get rich quick schemes.
Wealth is attainable to everyone with good financial habits, and you may already be on the right path.
Spending less money than you earn, saving for retirement, and investing money are simple ways to become wealthy.
Owning bitcoin won’t guarantee future wealth – but the right saving and investing strategies will.
At least according to Warren Buffett, who considers cryptocurrency a get-rich-quick scheme. Though chances are slim you’ll end up with the multi-billion-dollar fortune Buffett has, there are sensible ways to build wealth without betting on a bubble.
It’s hard to put a number on “wealth” because it’s personal and it depends on many factors, including where you live. Generally, having wealth means not having to worry about being able to pay your bills and knowing a comfortable retirement at a decent age is feasible.
These 11 indicators are easy to follow and will help you build wealth – whatever that means to you. Even better, a lot of these tips go hand-in-hand and require little work or maintenance.
If you are already following this advice, congratulations! You are on the road to being wealthy.