Bankrate Inc

The Fed just announced it's raising interest rates by one quarter-point for the second time this year, bringing rates above 1% for the first time since 2008 – which could hurt your portfolio.

So, there are two things you should do to make some real money – and protect what you have, too.

The first helps you lock in steady income every month.

The second offers you unlimited profit potential – with limited risk.

So this is the perfect time to brush up on a technique I first told you about last September, ahead of the last rate hike.

During the zero-interest-rate years, the markets tended to react to any positive news in the economy by heading down in a "good news is bad news" syndrome. Traders and investors only managed to shake this over the last year.

Events have shown that the markets are moving on economic optimism now and can therefore handle interest rate normalization. What's more, the Fed has been pretty transparent about its plans to hike rates in the face of stronger economic and employment data and rising inflation, so last week's rate hike was largely priced in.

So "good news is good news" again…

…unless you happen to be invested in one $570 billion sector. It might not survive the next Fed move toward normalization – a move I'm certain is coming this year.