Brittany Chukarman
Well-known member
Thank you Nathan!
Ibonds: 7.1% return
- Thread starter RobG
- Start date
npaden
Well-known member
I ended up doing another $20K this morning. That locks it up until January 2024, but they are locked up for 12 months anyway so really it is just an extra 8 months.
Crazy thing is that I'm going to end up having to borrow more money to purchase the land I'm working on a deal for because we ended up buying $60K of these bonds (I would have had to borrow some money anyway, just not as much), but the interest rate on the land is 4% for the first year for sure and these are going to earn 8.4% for the first year so it still makes sense to me anyway. Worth the hassle I think anyway.
One thing I just found out was that it doesn't matter when in April you buy them you get credit for the entire month for interest. It takes a day to get them processed so tomorrow is the last day you can buy one that will process in April. I decided to go ahead and buy today just to be safe.
MarvB
Well-known member
Locked mine up yesterday, second round of $20k, but the one thing I still need to do is to go back in and “re-register” a beneficiary. Forgot to do that with the Mrs first time around lol
Lawnboy
Well-known member
Stupid application told both my wife and I that they are having difficulty verifying the information provided and that it will be 10-15 days! Anyone else have trouble?
I bought some about a week ago with no problems.
MarvB
Well-known member
I think Schmalts ran into some problem with his purchase as well?
So when you sell I bonds, can you only sell them in the same dollar amounts that you purchased them in? Like if you were to buy 10k at one time and then want to sell 3k, can you do that or would you have to sell the whole 10k? Just curious as when I look at my account, it has each purchase listed seperately and I started wondering that...
MarvB
Well-known member
Should have also mentioned that if you do not sell the bond completely you must leave a min of $25 in the account I believe.
Thanks Marv!
So I just setup two treasury direct accounts for my two minor children. These are obviously tied to my account as they are minors. I made a really stupid mistake and entered my sons birth year when setting up my daughters account. For the life of me I can't figure out how to update her birth year to the correct year. I know this is a long shot, but does anybody know how to do that? I have reached out to treasury direct via email and phone but have yet to receive a response and the phone wait time is hours. Thanks in advance if anybody can provide some insight. Such a stupid mistake that is now wasting a bunch of my time.
Parents, If you are planning on using these bonds to pay for you child(s) education, go and read what must be met to qualify tax free. The major mistake I see family doing is putting the bonds in their child's name (from parents or grand parents). Keep them in the parents name - as the owner of the bond must be 24 or older to qualify for tax free educational uses.
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Treasury direct finally got back to me and updated my daughters birth year. homers I completely understand what you're saying and appreciate your feedback. My kids are young (4 and 6) and they have been fortunate enough to accrue a nice little savings account balance from bday, christmas gifts etc. This money is theirs and is not what will be used to pay for their education as my wife and I have saved other funds for that purpose. The reason behind me wanting to buy the ibonds is that I don't want to see their current savings balance get whittled away by inflation as it sits in a low return savings account. I don't really want to risk investing it equities either, but would rather it maintain it's current value (hence me looking at inflation rated bonds) until they are old/mature enough to manage the money themselves. I could drop it in stocks today and probably do better over the next 10 years but I have a hard time seeing a nearly 10% return in the stock market in the next year and see a much bigger risk of a loss of principal in the short term if I was to do that. Just trying to find a low risk investment for their money to grow and maintain its current value until they are old enough/mature enough to manage it themselves. I'm open to any feedback if you think there is a better option? Thanks again.
November
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