Personal finance: Tips for the current economic environment
Wednesday, October 8, 2008 | 10:35 AM ET
Central banks including the Bank of Canada and the U.S. Federal Reserve have cut short-term interest rates by half a percentage point in a co-ordinated international action.
The banks say they are acting to ease "the recent intensification of the financial crisis," in a move that will provide "timely and significant support" to the economy.
But what does this all mean for you? How will market turmoil and a possible recession affect your mortgage or your retirement savings? How can you prepare for the months ahead?
After 17 years in the financial-services industry, Judith Cane has developed a solid reputation as a financial advisor. The success of her firm, Antara Financial Group is built on establishing long-term client relationships with customized financial planning.
She took your questions on personal finance and debt management.
Read her answers below.
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