Well, OK, maybe not all seniors; but seniors who supplement their social security income with interest on their savings are likely to do well. Higher interest rates are bad for borrowers, but they’re good for savers. Raising of interest rates is largely being contemplated as a tool to stop inflation. To be sure, a 1/4 basis-point raise won’t increase the amount of money seniors get from their savings accounts, but it may well make global commodities (like oil) cheaper, which makes everything cheaper for those who aren’t paying interest.
Last Thursday, PBS aired a special hosted by Meryl Streep titled “Caring for Mom & Dad”. The New York Times published a review in anticipation of the show, and makes some valid points. We all have heard the statistic that with the ageing Baby Boomer population, soon the elderly will outnumber the young; but a lot of times, conversations never go farther than, “Your parent has Alzheimer’s, and you’re caring for her? That must be hard.” This show makes an effort to go deeper. And in the age of the Internet, the fact that it was on last week doesn’t matter one bit — you can watch it here.