LOL at a personal level yes that can be a disadvantage. Thats why some of us retirees hold diversified portfolios not just cash. Some of us also hold physical gold that has gone up astronomically in recent years.
Even though my cash income reduces I always feel fantastic when interest rates drop. The joy I get seeing the benefit/relief passing onto children and grandchildren and the rest of the community with substantial mortgages far outweighs my personal disadvantage. The drop in rates helps small business across the country. The ones who used to be disadvantaged were those on fixed rates but now that laws have been introduced to make it easier to renegotiate loans without undue penalty its not necessarily that bad for them. Every interest rate cut imo is worthy of a celebratory drink. Here's a toast to all mortgage and business loan holders.
