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However, with rates dropping, its time to rethink your savings strategies.
Cox explained thebest ways to make your money work for you.
Moreover, that interest rate compounds over time too, Cox pointed out.
While 5% is great, it actually hurts if you miss that 30%, she said.
However you might shift to things likebonds or CDs.
Because in retirement, your main income isnt your job anymore, its your portfolio.
Emergency funds need to be in cash.
The whole point of emergency funds is being able to access them when you need them the most.
So its important to trust that wherever youre putting that cash will be there if you better tap it.
For those funds, she said, You cant always trust the stock market.
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