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Owing to the economic uncertainty brought on by COVID-19, the Federal Reserve has indicated that it doesn’t expect to make any increases in the Federal Funds Rate through 2023, possibly even longer.

At these current low rates, retirement savers, especially those who tend to be on the more conservative side, are making do with negligible yields, but these low-risk, low-return options aren’t generating the desired results. However, there are several low-risk, high-reward type products and strategies that can help even the most conservative of retirement savers balance short-term needs with long-term savings—preserving principal and still participating if rates rise.

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