4 ms·
For I-Bonds the rates are now worth it. They are very CD-like, in that you can't withdraw them for the first year, and in the first 5 there is a few month inter
by jacobr1 4y ago
For I-Bonds the rates are now worth it. They are very CD-like, in that you can't withdraw them for the first year, and in the first 5 there is a few month interest penalty for early withdrawal.
You can only buy $10k per person per year, but as a married couple, you could build up 100K in savings over 5 years, and even faster if you hold them in a trust.
- Infernal 4y agoCan you explain why it would be faster to hold I-bonds in a trust?
- bombcar 4y agoFrom the internet: One limitation of buying I Bonds is the annual purchase limit. Each person can buy a maximum of $10,000 per calendar year as the primary owner. In addition, if you have a trust, you can buy another $10,000 per year under the name of the trust. A lawyer created a revocable living trust for us back in 2018. It was surprisingly easy when I opened an account for the trust at TreasuryDirect last month. It took only 15 minutes to open a new trust account and buy another $10,000 of I Bonds. So it lets you double the amount you can buy.