"CDs will always be attractive to the risk-avoidance nature of savers. I had an aunt many years ago complain that she couldn't get 14% on her CD any longer. Of course, the prime interest rate at the time was over 20%," says Rob Burnette, chief executive officer and fiduciary financial advisor at Outlook Financial Center.
In an exclusive interview with The U.S. Sun, Rob Burnette, an investment advisor representative and professional tax preparer at Outlook Financial Center in Troy, Ohio, pointed to the media’s influence in amplifying nervousness around inflation, jobs, and interest rates.
"I can't think of a situation when using home equity to make an investment is a good idea or in one's long-term best interests," says Rob Burnette, investment advisor representative at the financial planning firm, Outlook Financial Center.
“It’s not uncommon to see them with anywhere from six to 12 months’ worth of expenses in their savings account,” said Rob Burnette, CEO and investment advisor representative at Outlook Financial Center.
“If you don’t know where you’re going, you’re not going to get there,” Rob Burnette, financial adviser and chief executive of Outlook Financial Group.
The most important thing to consider before setting up an investment account for your children is determining the purpose of the funds.