There is one great investment created by current economic conditions (no joke)

[Willie99]

US Government "I Bonds"

The interest rate is determined by the rate of inflation, and they're currently paying 9.6% (which is astonishing)

American citizens can only purchase $ 10,000 per year. Plus another $ 5,000 with a federal tax refund (how fucked up is that tax refund part?)

Interest is guaranteed for six months, then reset for the next six months based on the rate of inflation at that time. (which ain't coming down anytime soon)

You have to hold it for one year to earn interest. And if you cash it in within 5 years, your penalty is the last three months of interest (which still makes it a great fixed return at this point in time)

I'm new to this market, so forgive me if I got something wrong.


If you're interested, you have to establish an account with US Treasury Direct to make purchases. Only takes a few minutes.

 

[Willie99]

Wonder when the assholes are going to move this thread

 

[Knightrofins]

Did u purchase them yet?

I actually put a post in the financial forum (who reads that?) a few weeks ago.

haven’t purchased yet but wasn’t aware of 10k a year (thought it was a 1 time thing) and didn’t know about the 5k tax refund (haven’t filed my 21 taxes yet)

was planning on doing this for both my wife and I (possibly the kids for some extra college $$ but not sure)

I think I read that this interest rate is good until October (or something like that)

thx for bringing this to our attention up in this forum. Now let’s spin the wheel to see where this post lands

 

[Bozzie]

I like bonds only problem is when inflation drops your rate of return drops too...locked in for a year or be penalized...you are taxed federally but if you use the money for qualified education its tax free...you can hold 10 Gs worth as an individual and can use a tax return to hold another 5 Gs worth for a total of 15 Gs...hard to make big money in bonds...but you won't lose..guaranteed

My pop sold government municipal bonds.

buy here. TreasuryDirect.gov.

 

[Bozzie]

Did u purchase them yet?

I actually put a post in the financial forum (who reads that?) a few weeks ago.

haven’t purchased yet but wasn’t aware of 10k a year (thought it was a 1 time thing) and didn’t know about the 5k tax refund (haven’t filed my 21 taxes yet)

was planning on doing this for both my wife and I (possibly the kids for some extra college $$ but not sure)

I think I read that this interest rate is good until October (or something like that)

thx for bringing this to our attention up in this forum. Now let’s spin the wheel to see where this post lands

way around it is buying the 10g as gifts for your kids wife ect

 

[Willie99]

Did u purchase them yet?

I actually put a post in the financial forum (who reads that?) a few weeks ago.

haven’t purchased yet but wasn’t aware of 10k a year (thought it was a 1 time thing) and didn’t know about the 5k tax refund (haven’t filed my 21 taxes yet)

was planning on doing this for both my wife and I (possibly the kids for some extra college $$ but not sure)

I think I read that this interest rate is good until October (or something like that)

thx for bringing this to our attention up in this forum. Now let’s spin the wheel to see where this post lands

Yes, for both my wife and I

 

[festeringZit]

I bought these a few weeks ago... yes, best deal around

 

[Knightrofins]

I bought these a few weeks ago... yes, best deal around

Did you use the Treasury direct site that Bozzie gave out?

 

[festeringZit]

I didn't get the info from Bozzie... but my shares are at:

treasurydirect.gov

 

[Knightrofins]

I didn't get the info from Bozzie... but my shares are at:

treasurydirect.gov

Oh, i know you didnt get it from Bozzie. I was just wondering if it was the same site.

I've been on that site as well and was easier if there were other sites to sign up on.

Thx

 

[Buster]

Hey guys thanks for this! On the site it says the 9.0 is good thru Dec. and it is changed 2 times per year,so does that mean you could cash out at the end of year and receive full 9.0? So if it stayed 9.0 it would really be 18.0 if left a full year? and if so do you pay taxes on the profit? Any help would be appreciated...Thanks!

 

[Willie99]

9% is for the full year

If you cash out in less than five years, you have to give the last three months if interest back. Not a game changing penalty.

You pay federal income taxes, but NOT state

 

[Buster]

9% is for the full year

If you cash out in less than five years, you have to give the last three months if interest back. Not a game changing penalty.

You pay federal income taxes, but NOT state

Thanks for your help!

 

[brendanjack]

I’m liking this thanks For the tip

 

[Willie99]

I bonds — TreasuryDirect

www.treasurydirect.gov

Another link to Treasury Direct site

 

[Mr_Mark]

Interesting.... thanks for sharing.