This inflation-proof bond is paying 9.62%. Here's how to buy it.

[Celerity]

A step-by-step guide to buying inflation-indexed I series government savings bonds

https://www.washingtonpost.com/business/2022/06/22/step-by-step-guide-to-buy-i-bonds/

https://archive.ph/CbJqz



The government’s inflation-protection savings bond right now is like a Birkin bag — highly coveted. With the stock market crashing and inflation rising, people are desperately looking for a place to park their extra cash. Paying 9.62 percent, the relatively unknown inflation-proof Series I savings bond has become a hit with $17.5 billion sold in the six months ending in May, according to the Treasury Department. That’s compared with $364 million in I bond sales in all of 2020.

If you’ve got money sitting around earning a little more than 1 percent, if that much, I bonds are an attractive deal. Several callers to ASK-POST (855-275-7678), my toll-free line, have been asking about I bonds. There are a couple of things you should know before buying an I bond.

— You have to set up an account at TreasuryDirect.gov to buy the bonds.
— The interest rate on new Series I savings bonds is 9.62 percent through October 2022.
— Individuals can only purchase up to $10,000 in electronic I bonds each calendar year. If your purchase exceeds that limit, it can take up to 16 weeks for Treasury to process a refund. (You can also buy up to $5,000 in paper I bonds using your federal income tax refund).
— You pay the face value of the bond. For example, you pay $25 for a $25 bond.
— You can’t cash the I bond for at least one year. If you cash the bond before five years, you lose the previous three months of interest.
— You have to pay federal income taxes on the interest.

Now, here’s a step-by-step guide to purchasing I bonds, which starts with setting up an account at TreasuryDirect.gov.......

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[SWBTATTReg]

1. Thanks! I wonder if there's a limit on the total Series I savings bonds sold per year etc.?

The articles didn't say that there is an annual limit on total sales of the bonds, so perhaps unlimited. If so, this is a good opportunity to put some of your money into higher interest-bearing accounts.

[doc03]

2. There is a $10000 limit per taxpayer for on line

accounts. You can also buy up to $5000 in paper I bonds
with your tax refund. Example a married couple could by $30000 a year. Myself single can buy $15000.
With all the interest in buying them I fear the government will shut it down.

[doc03]

3. I put $10000 in I bonds last June and $10000 this

January.

[Bayard]

4. Bookmarking