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Forum » You have until the end of October to get I-bonds at 9.62%
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Thread: You have until the end of October to get I-bonds at 9.62%

post 1668346423 09-23-2022, 11:43 AM
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You have until the end of October to get I-bonds at 9.62%

Cliffs:
Bond that pays 9.62% first 6 months
Limit of $10K per individual per year
State and local tax exempt
Have to hold for 1 year
If you sell within 5 years you forfeit last 3 months of interest

I-bonds are bonds you can buy from the treasury where the interest earned is calculated based on Consumer Price Index (CPI). Right now the CPI is the highest it has been in close to 40 years and after October the rate is likely to go lower. This is probably the best time in our lives to buy I-bonds and even after October when the rates go down, likely around the 7% range, they are still a great deal given the financial climate. If you have a family you can purchase one for each individual meaning a house of 4 can buy up to $40,000.

In order to purchase an I-bond you have to set up an account at the treasury and link a bank account. It shouldn’t take more than 5-10 minutes. I HIGHLY recommend every US miscer who is able to set aside $10K to look into I-bonds.

https://www.treasurydirect.gov/RS/UN-AccountCreate.do

This video explains in more detail what an I-bond is and the buying process.

post 1668346563 09-23-2022, 11:45 AM
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Can I get the tl;dw?
post 1668346633 09-23-2022, 11:46 AM
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Originally Posted By CoolKnees⏩
Can I get the tl;dw?
Lol cliffs are at the top and basically summarize the video.
post 1668348043 09-23-2022, 12:10 PM
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I'm going to seriously consider this at least until a more financially savvy miscer posts about what a bad idea it is.

Just putting 10k wouldn't be such a bad thing tho, I guess
post 1668348173 09-23-2022, 12:13 PM
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So what rate do you get the 2nd 6 months for the year that you hold? I guess technically only the next 3 since you'll forfeit the final 3 months after selling at the end of the year.
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post 1668348343 09-23-2022, 12:17 PM
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Originally Posted By SoutheastBeast1⏩
So what rate do you get the 2nd 6 months for the year that you hold? I guess technically only the next 3 since you'll forfeit the final 3 months after selling at the end of the year.
It will re-adjust to whatever the current CPI is.
Originally Posted By DolphinPilot⏩
I'm going to seriously consider this at least until a more financially savvy miscer posts about what a bad idea it is.

Just putting 10k wouldn't be such a bad thing tho, I guess
I-bonds are a great idea. They are literally federal welfare for savers. There is not an investment this good on Wall Street... that's why I-bonds can't be traded.
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post 1668348403 09-23-2022, 12:19 PM
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Originally Posted By DolphinPilot⏩
I'm going to seriously consider this at least until a more financially savvy miscer posts about what a bad idea it is.

Just putting 10k wouldn't be such a bad thing tho, I guess
This lol, someone chime in and blast OP so I don't make a mistake
I'm from the Land of Blood and Honey
post 1668349903 09-23-2022, 12:42 PM
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Originally Posted By FA*******⏩
It will re-adjust to whatever the current CPI is.



I-bonds are a great idea. They are literally federal welfare for savers. There is not an investment this good on Wall Street... that's why I-bonds can't be traded.
Good info. I was hyper focused on the first 6 months 9.62% return and forgot that the interest rate is calculated again at the current CPI. This actually makes them pretty good deal to hold on longer than a year assuming CPI stays high. This makes them even better.
post 1668350603 09-23-2022, 12:50 PM
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Originally Posted By JeepBruh⏩
Good info. I was hyper focused on the first 6 months 9.62% return and forgot that the interest rate is calculated again at the current CPI. This actually makes them pretty good deal to hold on longer than a year assuming CPI stays high. This makes them even better.
Yep. Even if CPI goes down to say 6%, there is not another investment that good on the market.

If the US government really wanted to borrow money, they could borrow billions at the current short-term rate of 4%. They don't need to pay out 9%, that's all a handout to you.
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post 1668351483 09-23-2022, 01:02 PM
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So the entire plan is based on inflation dropping?
post 1668351573 09-23-2022, 01:04 PM
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So then when I sell it, I have to claim that income as capital gains on my taxes?
post 1668351653 09-23-2022, 01:06 PM
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Why would I do this when I can buy 10k of SHIB coin instead? Lol @ noncoincels
post 1668351873 09-23-2022, 01:09 PM
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LOL at buying government debt when the whole thing is about to implode.
#
post 1668352313 09-23-2022, 01:16 PM
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So you can only invest 10k and you get 10% of that back in the first year? So you make 1k?
post 1668352363 09-23-2022, 01:17 PM
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Originally Posted By bsmit107⏩
So then when I sell it, I have to claim that income as capital gains on my taxes?
It wouldn't be capital gains, it would just be taxed as interest income. Basically normal income minus the no state/local tax because I-bonds are exempt.
Originally Posted By bicmane⏩
So you can only invest 10k and you get 10% of that back in the first year? So you make 1k?
Basically yes. However, you only get the interest back when you cash out the entire bond is my understanding.
post 1668352933 09-23-2022, 01:26 PM
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Originally Posted By bicmane⏩
So you can only invest 10k and you get 10% of that back in the first year? So you make 1k?
This.

Seems weak.
post 1668353413 09-23-2022, 01:35 PM
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Originally Posted By JeepBruh⏩
If you sell within 5 years you forfeit last 3 months of interest (lol if you hold past the first year)
The interest rate is tied to the inflation rate which isn't going down in the immediate future so why wouldn't you hold? Sounds like you think this is a promotional rate or something... Also the front load the 3 months so that you don't see any value increase in your account until month 4 and then you see the increases over your initial investment.
Originally Posted By LtGoose⏩
Why would I do this when I can buy 10k of SHIB coin instead? Lol @ noncoincels
Shib went from a high of .00008 to .00001 in the last year.
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post 1668353503 09-23-2022, 01:37 PM
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Originally Posted By Condo41⏩
This.

Seems weak.
It's not. It's a great deal. It would be a phenomenal deal if you could throw more than $10K.
post 1668353543 09-23-2022, 01:37 PM
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BUUUUUYYYYYY American bros!!!!!!
post 1668353573 09-23-2022, 01:38 PM
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Originally Posted By jafomofo⏩
The interest rate is tied to the inflation rate which isn't going down in the immediate future so why wouldn't you hold? Sounds like you think this is a promotional rate or something... Also the front load the 3 months so that you don't see any value increase in your account until month 4 and then you see the increases over your initial investment.



Shib went from a high of .00008 to .00001 in the last year.
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post 1668353653 09-23-2022, 01:40 PM
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Originally Posted By JeepBruh⏩
It's not. It's a great deal. It would be a phenomenal deal if you could throw more than $10K.
You get $83.33 a month.

That's like a free tank of gas a month for investing 10k.

I think it would only be a great deal if you could invest up to 100k/year
post 1668353673 09-23-2022, 01:42 PM
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Originally Posted By jafomofo⏩
The interest rate is tied to the inflation rate which isn't going down in the immediate future so why wouldn't you hold? Sounds like you think this is a promotional rate or something... Also the front load the 3 months so that you don't see any value increase in your account until month 4 and then you see the increases over your initial investment.



Shib went from a high of .00008 to .00001 in the last year.
Explained it earlier, but yeah originally I was focusing alone on that "promotional" 9.62% rate which by itself is great and what originally enticed me. It does seem like a good idea to hold longer than a year assuming the next rate adjustment is in the 7% range because that it beating basically any treasury right now.
post 1668353773 09-23-2022, 01:44 PM
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Originally Posted By bicmane⏩
You get $83.33 a month.

That's like a free tank of gas a month for investing 10k.

I think it would only be a great deal if you could invest up to 100k/year
It's a free tank of gas with zero risk of loss. No other investment on the market beats 9% risk-free.

Yeah, it would be better if you could throw more money into the single best investment opportunity available to plebs. But the govt capped it for a reason, because they lose money on every I-bond they sell. GL finding another asset where the sellers just hand you a risk-free 5% return over market.
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post 1668353793 09-23-2022, 01:45 PM
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Originally Posted By jafomofo⏩
The interest rate is tied to the inflation rate which isn't going down in the immediate future so why wouldn't you hold? Sounds like you think this is a promotional rate or something... Also the front load the 3 months so that you don't see any value increase in your account until month 4 and then you see the increases over your initial investment.
Yeah, wtf are you on about op? Why in the fuk would I liquidate my bonds after a year and take the penalty? Should I have liquidated my I bonds this year that I bought last year?
post 1668354083 09-23-2022, 01:51 PM
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Originally Posted By headturner1⏩
Yeah, wtf are you in about op? Why in the fuk would I liquidate my bonds after a year and take the penalty?
Just trying to help you guys sharing investment opportunities that you might not be aware of lol.

The penalty is basically nothing and would still beat any bond out there on a one year basis. My plan was probably to reinvest into stocks after one year, but I sort of imposed my mentality onto everyone else without explaining. Should have just stuck to informational post only. My bad.
post 1668359333 09-23-2022, 03:37 PM
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Originally Posted By JeepBruh⏩
Just trying to help you guys sharing investment opportunities that you might not be aware of lol.

The penalty is basically nothing and would still beat any bond out there on a one year basis. My plan was probably to reinvest into stocks after one year, but I sort of imposed my mentality onto everyone else without explaining. Should have just stuck to informational post only. My bad.
Started informational which was solid, but then for stupid people like me, I see advice and start second guessing my holding. Thanks for the solid op though!
post 1668359793 09-23-2022, 03:52 PM
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Don't know anything about i bonds. Would it be possible to purchase within a roth ira?
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post 1668359903 09-23-2022, 03:54 PM
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Originally Posted By headturner1⏩
Started informational which was solid, but then for stupid people like me, I see advice and start second guessing my holding. Thanks for the solid op though!
I just edited it out since it shouldn't have been there in the first place and you weren't the only person who questioned it. The stupid is on me and you are doing it right brah.
post 1668366003 09-23-2022, 06:23 PM
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Originally Posted By homersexual⏩
Don't know anything about i bonds. Would it be possible to purchase within a roth ira?
Don't believe so. Think you can only buy direct through treasury.
post 1668371053 09-23-2022, 08:19 PM
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Originally Posted By JeepBruh⏩
It wouldn't be capital gains,it would just be taxed as interest income. Basically normal income minus the no state/local tax because I-bonds are exempt.



Basically yes. However, you only get the interest back when you cash out the entire bond is my understanding.
wait, really? I used to have a bunch of money in a high-yield savings account (as high as they usually get...) and I ended up being taxed on that **** at 100%, basically. Filed my taxes, had a promised return of $550 or so, plugged in my 1099-INT, stated I made $60 in interest in my savings account, new refund = $490.

I think I'll pass on this, unless I'm missing something else about i-bonds
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