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5 Ways to Prepare for Rising Interest Rates

Paying off credit card debt, considering bank stocks, and starting a CD ladder are just a few things investors can do, says John Waggoner.

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Life may be full of uncertainties, but there are a few things you can count on: The sun rising in the east, the swallows returning to Capistrano, and Wile E. Coyote surviving yet another 50-story fall into a canyon.

For investors, matters tend to be a bit murkier. But it's hard to argue that short-term interest rates would go much lower than they are now, because short-term rates rest at zero. What can you do to prepare for a rise in rates? Quite a few things.

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John Waggoner does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.