The coronavirus has turned the stock market and the economy upside down. Now, it’s doing the same thing to interest rates. With a negative-rate mortgage, instead of paying interest, you’d literally pay back less than you borrowed. What can a saver do? For one, use certificates of deposit to lock in rates now.
Things you can do:
1. Switch to a high-yield savings account
2. Invest in real estate with as little as $500
3. Invest effortlessly – sit back and let Acorns, a micro investing app help you save and invest your spare change automatically (no trade fees)
4. Earn 5% with Worthy bonds with as little as $10
Rev. Dr. Donna Taylor is the Pastor of Andrew Chapel, United Methodist Church on the Northern Neck in Montross, VA. Rev. Dr. Taylor promotes best practices for financial literacy and financial empowerment in the church and leads workshops throughout Northern Virginia. Currently, she serves as the Chair of the District Finance Committee. In May 2015, Rev. Dr. Taylor received her Doctor of Ministry from Virginia University of Lynchburg in Lynchburg, VA. Rev. Dr. Donna Taylor is married to Dr. David Taylor, who is also the Director of our church-based free clinic. They have two adult children and three grandchildren. In her leisure time, Rev. Dr. Taylor enjoys traveling, jogging, weightlifting, swimming, yoga, and interior decorating. In May 2015, Rev. Dr. Taylor received her Doctor of Ministry from Virginia University of Lynchburg in Lynchburg, Virginia. Rev. Dr. Taylor was born and raised in New York City and recently discovered her ancestral roots in Guinea-Bissau, West Africa. Rev. Dr. Donna Taylor is married to David Taylor and they have a son and a daughter. Their daughter is a educator and son is an Active-Duty Senior Seaman in the Navy married with three children. In her leisure time, she enjoys traveling, reading, swimming, writing poetry, crocheting and spending time with her family.