Retirement income-seekers already feeling pinch from rate cut

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 · British savers suffer as interest rates cut again – to 1.5 per cent. SAVERS are feeling the pinch after the Bank of England made a further cut in interest rates to a historic low of 1.5 per cent.

I throw $300 a month from my retirement check into my credit union share account. We like to buy a new car every 4 to 5 years max, with cash. With my trade-in value, this has always been a way to have that $$ without feeling the pinch of a big withdrawal from "retirement" funds.

Want to maximize your monthly retirement income, pay less tax, get more social security and have your money last longer in retirement? Click to learn what your financial advisors overlook, such as.

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Flip side By. Consumers already feeling the financial pains of rising prices at the gasoline pump and the grocery store should brace themselves for another round of punches as lower interest.

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With another cut in the cash rate by the Reserve Bank last week, the 2 million self-funded and partly self-funded retirees are entitled to feel hard done by. As it was, the cash rate was only 1.75.

ANZ’s already cut the rates paid on almost 20 products.. Retirement income-seekers already feeling pinch from rate cut. "Retirement income-seekers who rely on savings and term deposit.

Certain job markets will feel the pinch. Companies that make baby supplies, car seats, and toys are already feeling the blow. Last year, Kimberly-Clark cut thousands of jobs to make up for lower sales. That might happen at other companies, too. Which also affects investors. When public companies start feeling the pinch, their stock price may drop.

Is Phased Retirement the Right Move? Rebecca Lake Dec 23, If you’re planning on tapping Social Security before you reach the federal full retirement age, you might not feel the pinch as much since your benefits would already be reduced.