Beret Lam
speaker
107 appearances
2 recordings
1 series
first heard Sep 2020
last heard Nov 2020
Beret Lam’s voice in public audio — every appearance, attributed to the second.
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Appearances
People are really, during this pandemic, looking for places to park cash that they can still access.
We all know the importance of having accessible cash and having an emergency fund if you can do it.
Thanks, JR.
Always great to be here.
We've heard from so many readers who've completed the challenge.
And I think what's interesting is that no matter where people are at in their financial journey, whether they are at the starting line, just graduating school, or just getting their first job, just starting to save for retirement, or if they're looking to buy a house, or if they are near retirement, I think that everyone had something to say about the money challenge, which I found really interesting.
Yeah, that's a topic that people are super curious about, especially right now with the Federal Reserve signaling that they're going to hold rates low for the next three years, possibly until 2023.
This is a question a lot of people are pondering, you know.
Some people out there used to recommend these high-yield savings accounts, which are yielding very low yields now.
And so people are really, during this pandemic, looking for places to park cash that they can still access.
We all know the importance of having accessible cash and having an emergency fund if you can do it during a national, international emergency such as this.
So a lot of people are looking...
to where they can put their money that will actually get them some interest and a little bit of income.
For retirees especially, this is a really important question, if you're near retirement or in retirement and part of your portfolio has to be in cash.
So I think that's that's something that people have been wondering about.
And we always try to do that here in personal finance, like not just reiterate the common sense, traditional personal finance advice, but really react to the moment like what's going on in our financial system right now.
I think what we say about saving and investing and where to put your savings has to change based on what's going on in the news.
It just it just has to.
Absolutely.
I think Rosalie's method is sound for those who are able to afford all their essential expenses and then going out to dinner probably isn't an option for most people right now.
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