Anyone Buying Government I Bonds?

honestly, thats sounds too good to be true. i have the money guys in my fantasy football league looking into it for me, ill let you know. that sounds great
 
Someone turned me on to them a couple months ago.
I'm told its a 1 year deal.... your limited to 10K per person.... I never jumped in... I need to.
 
The Man said:
honestly, thats sounds too good to be true. i have the money guys in my fantasy football league looking into it for me, ill let you know. that sounds great
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I know, right? When our savings accounts are paying 0.1% annual.

I set up my account at the treasury site today. Going to move some money and buy tomorrow when it clears. If you have $10k in the bank that you are not going to need for a year or two, this is a no-brainer. Basically you are are loaning the government some money and they are paying you an inflation based interest rate.

-Geoff
 
WhiteHawk said:
I just read that they are inflation based and are paying 9.62% the first six months - thanks Joe Biden? I think you have to leave them in for at least a year or two though. Gotta buy them by the end of the month to get the rate. You can buy $10k a year, so that means over $962ish gained in the first six months if you go max.
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I think I did the math wrong here - it would be a 9.62% annual rate paid for six months (so half the amount I said). Still a smoking deal.

-Geoff
 
2.35% interest is pretty typical these days....... Hey Boomers get out of the stone ages, Discos Dead !!!

get yourself online only bank
 
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My life insurance account had a minimum interest rate on it when I
bought into it years ago, so I'm grandfathered in it at.......... 5%.
 
The I bond is about 10% for 6 months. I believe you cannot take it until 5yrs without a withdraw penalty. Also it is 10k per person in your house. So in my case I can toss 40k into ibonds. I have been reading a lot of fear about buying bonds lately. The major banks all stopped buying them and also something about if ww3 breaks out the bonds could not be guaranteed. Something like that anyways.
 
The interest is actually zero.... since it matches inflation.

You can cash in (redeem) your I bond after 12 months.

However, if you cash in the bond in less than 5 years, you lose the last 3 months of interest. For example, if you cash in the bond after 18 months, you get the first 15 months of interest.
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After five years, Savings Bonds can be cashed in without an interest penalty. Keep an eye on the real rates on marketable Treasury inflation-protected securities. If TIPS yields, now negative, climb into positive territory, cash in your I bond, pay the damn tax on your phantom income from inflation adjustments and invest what’s left in a TIPS fund that can go in your brokerage account.
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It's an inflation-protected way to store your emergency fund, or a way for rich people to rich people it.

Yes, it's worth using.

Like I said, it's great for storing your emergency fund for the common family.
 
picturethis said:
2.35% interest is pretty typical these days....... Hey Boomers get out of the stone ages, Discos Dead !!!

get yourself online only bank
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First off, disco is awesome! Second, where do you get cash (past the ATM limit) when you need it if you keep your money online? Do you have two sets of accounts? The thought has occurred to me though - I need an account that I can handle online transactions and I would prefer to keep my main bank account separate from fucking paypal.

-Geoff
 
Who uses Cash ?? ......... Forgot about going to the titty bar.
Yes you still need a local bank that has cash . Some online banks have ATMs .
To me its worth it to have 2 accounts. Since this thread started my online banks APY went to 3%
Check out Citizens Access
 
camaromann said:
The I bond is about 10% for 6 months. I believe you cannot take it until 5yrs without a withdraw penalty. Also it is 10k per person in your house. So in my case I can toss 40k into ibonds. I have been reading a lot of fear about buying bonds lately. The major banks all stopped buying them and also something about if ww3 breaks out the bonds could not be guaranteed. Something like that anyways.
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1 year and 1 day without penalty.
 
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