You can now purchase a treasury I bond up to $10,000 per person at a rate of 9.62%
Hope this helps some folks
You can now purchase a treasury I bond up to $10,000 per person at a rate of 9.62%
Hope this helps some folks
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Thanks.
Additionally, you can buy with a tax refund, if applicable.
An extra $5,000 via Form 8888. Paper bond issue.
Once you receive the paper bond, you can convert it.
Current rate is 9.62%, it changes 2X/year with inflation.
You can also do a gift which gets you earning the interest rate on additional money. Would only do the gift thing though with someone you fully trust like a spouse. There’s a post on here about that from earlier this year also.
The question is not what it yields now but what will it be yielding in 2023. If it is still at 9.62% then we are in deep trouble. My wife and I maxed our Bond purchases for 2020 and 2021. Too bad it is only $10,000.00 a piece.
I'm thinking those bonds will be with Uncle Sugar thru the penalty phase.
I bought my first ever I bond a couple months ago and I believe it will be paying a high rate for the next year. I'm calling an October announcement of 8.5% or more. Supply chains are not recovering. Housing may cool and oil/gas may drop a bit, but it's not offsetting all the other stuff people want, but can't get...
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How long until the bond matures?
Here’s some information regarding I bonds:
Should you buy an ibond?
The 9.62% interest rate certainly looks appealing but there is a little more to ibonds that you should consider before purchasing.
* The rate is for only six months. Granted, inflation will still be high in six months so chances are you'll receive another high interest rate for the following six months.
* The interest rate has two components to it. A variable rate and a fixed rate. The variable rate is linked to inflation and measured by the CPI-U (Consumer Price Index for Urban Consumers) which is why the ibond is paying 9.62%. The fixed rate is determined by the Treasury and it's currently at 0%. So as inflation comes down, so will the variable rate portion of your ibond every six months.
*Liquidity. You can't sell your ibond for the first year. If you sell it in the first five years, you'll lose 3 months of interest.
* This isn't a product that you'd want to put your emergency funds in due to the inability to get to your money within one year. I'd suggest it would fall into your five-year fixed income bucket.
To learn more you can go to Treasury Direct https://www.treasurydirect.gov/indiv...terms.htm#infl
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Strong men create easy times, Easy times create weak men & weak men create hard times. Sheikh Rashid bin Saeed Al Maktoum
In 1944 18-20 year old's stormed beaches, and parachuted behind enemy lines to almost certain death.
In 2015 18-20 year old's need safe zones so people don't hurt their feelings. "Author Unknown"
In 2021 18-40 year old's want to and work to cancel you out if you have a different opinion.
I agree. You might not want to use the emergency fund to purchase the bond. My wife and I are retired and have a slush fund. I am guessing the return for the first year will not be matched with other options.
2002 Pro Craft 200 Super Pro- 2005 200 Mercury Optimax, Retired
Empty Nester- Proud Grandfather 5-30-2014-Boy-Aiden, 8-2-2017-Boy-Calen
How does one go about buying I Bonds? Just buy through your regular broker or some other way?
2000 Javelin Renegade 20 DC.
Strong men create easy times, Easy times create weak men & weak men create hard times. Sheikh Rashid bin Saeed Al Maktoum
In 1944 18-20 year old's stormed beaches, and parachuted behind enemy lines to almost certain death.
In 2015 18-20 year old's need safe zones so people don't hurt their feelings. "Author Unknown"
In 2021 18-40 year old's want to and work to cancel you out if you have a different opinion.
You have to go through the US treasury
2002 Pro Craft 200 Super Pro- 2005 200 Mercury Optimax, Retired
Empty Nester- Proud Grandfather 5-30-2014-Boy-Aiden, 8-2-2017-Boy-Calen
Link please
2000 Javelin Renegade 20 DC.
Strong men create easy times, Easy times create weak men & weak men create hard times. Sheikh Rashid bin Saeed Al Maktoum
In 1944 18-20 year old's stormed beaches, and parachuted behind enemy lines to almost certain death.
In 2015 18-20 year old's need safe zones so people don't hurt their feelings. "Author Unknown"
In 2021 18-40 year old's want to and work to cancel you out if you have a different opinion.
Hey Nitro,
I believe that when we had this conversation back in March, you also pointed out that you can buy a 10K I Series as a 'gift' and just leave it in your account till you give it to the person at a later date when you may not be buying a bond for that yr. Please correct me if I am wrong since I do not wish to pass on bad intel.