Mom: The Squeeze On Your Income Will Continue

Mom: since November 1990, you’ve seen the interest rate paid on one-year bank CDs fall. Many of your friends are waiting (hoping) for these rates to go back up, but it isn’t going to happen. To understand why, you really need to look no further than the actions of your children. Today your children are paying down their debts and refinancing their mortgages, often for a shorter term.

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