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Rate cut ‘not a winner’ for self-funded retirees

Article image for Rate cut ‘not a winner’ for self-funded retirees

The Reserve Bank of Australia has handed down an interest rate cut that could cause self-funded retirees “a lot of pain”.

Former RBA board member John Edwards told Scott Emerson self-funded retirees should contact their financial advisor about mixing up their assets.

“If you’re depending upon those interest rates to finance your retirement, it’s not a winner at all.”

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Image: Getty

Scott Emerson
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