How do interest rates affect my long-term savings?

Interest rates can have a significant impact on longterm savings. Higher interest rates generally mean that you can earn more money on your savings over time. This is especially true for fixed income investments such as bonds, where changes in interest rates can have a direct impact on the value of your investment. However, it is important to keep in mind that interest rates are subject to fluctuations over time, which can impact the returns on your longterm savings. Therefore, it is important to consider the impact of interest rates when choosing longterm savings options, and to ensure that your savings plan is diversified to help mitigate the risk of interest rate fluctuations.