You are LOCKED for 12M. Period. The US Federal Govt has to determine that your area was hit by an emergency (Flood, Wild Fire etc) to warrant a pre-12M redemption. Who cares - these i Bonds are way better investments then basically most bond funds etc.
I have a friend, very successful wall street guy - has 5 kids. They put in $70K ($10K for each kid, and then husband and wife) in Dec and will do another $70K in Jan. $140K @ 7.12% - not bad. He had no idea about these. That is the real unique part - you are basically double-dipping into year-end, at the elevated CPI U rate. Plus, if inflation persists then these things really payoff.
I think the key is if you are willing to gift the amounts to your children are not. If so, then plow as much into as possible. If not, then $20k this year, $20 next has to suffice.
iSavings bonds yielding 7.12% currently
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I think the key is if you are willing to gift the amounts to your children are not. If so, then plow as much into as possible. If not, then $20k this year, $20 next has to suffice.