I-Bonds Anyone?

[teacher10]

With the way inflation is skyrocketing I'm putting 20K into I-Bonds, 10K for myself and 10K as a gift to my partner. The first 6 months will be at 7.12% and then 9.6% the following 6. At the end of next year it'll be around $850 in interest earned for each account. Granted it's not much but it's free money which is better stored in the treasury than in my savings account. Wish I was more riskier in the stock market but I'm very hesitant with the way our economy is heading. For those who are interested, best to do this now.

Edited: Please do some research before investing -
What Are I Bonds?
Series I Bonds Are Set to Top 9% for the First Time Ever
Questions and Answers about Series I Savings Bonds

 

[Wagerallsports]

I've never dabbled in them might give it a go per your sharing

 

[Wagerallsports]

Is this a flat interest rate everywhere or varies where you get it?

 

[BobbyFK]

any fees to cash out? Can you do it anytime?

 

[teacher10]

Is this a flat interest rate everywhere or varies where you get it?

You have to buy it online at the treasury website. It will vary if you buy it from Vanguard, Fidelity or a bank.

 

[teacher10]

any fees to cash out? Can you do it anytime?

If a bond is cashed within the first five years after its issue date, interest earned during the three months prior to cashing will be forfeited. Once a Series I bond is five years old, there is no interest penalty for redemption.

 

[Wagerallsports]

Thanks for the info teach

 

[BobbyFK]

If a bond is cashed within the first five years after its issue date, interest earned during the three months prior to cashing will be forfeited. Once a Series I bond is five years old, there is no interest penalty for redemption.

Thank you!

 

[Tanko]

Is this a flat interest rate everywhere or varies where you get it?

Interest rate updates every 6 mo. I believe May/Nov or Jun/Dec.

 

[Tanko]

The issue I have is the $10k limit. They need to increase it to allow for bigger investments.
I did not realize the $10k limit was per person. I thought it was per household. I like that your spouse could get one too. Doubles the investment allowed.

 

[RudyRuder]

pass


i use all of my money for gambling