Interest rates are rising. What’s your next step as an investor?
How are you handling the current rate increases?
In response to rising interest rates, one of the best things investors can do is ask a simple but important question:
Does my current investment plan still work?
Taking a step back to look at your plan is a smart way to figure out if you should revise your strategy based on the interest rate changes.
To answer the question, it’s helpful to understand if the rising rates are impacting your short- and/or long-term investing goals.
- That may involve taking a closer look at your spending. The inflation that the higher interest rates are trying to contain can make it harder to afford certain items.
- You may need to look at your loan situation. If you have an adjustable rate loan, you’ve likely noticed the rates have been going higher and higher. And if you’re looking to buy or refinance a home, your money likely won’t go as far as it did in recent years.
- It may also be beneficial to check the asset allocation in your Corebridge portfolio—and in other investments outside your employer retirement plan. Having an appropriate mix of investments can help offset the impact of a challenging financial environment.
- And it’s always a good idea to see if your retirement time horizon is still realistic.
Corebridge is here to help
No matter your situation, it’s important to be proactive about your retirement planning so you can understand how changes—like rising interest rates—can impact your investment strategy.
As you try to determine what steps to take, you may find yourself struggling to understand the best course of action. You’re not alone.
That’s why Corebridge provides access to valuable education, advice and guidance through our trusted financial professionals. They deliver the personal touch you may need to navigate the current interest rate environment.
Contact a Corebridge financial professional today to discuss your personalized investment plan.