US Gov I Bonds @ +7.0% current cycle, Thoughts?
 

Just curious of any thoughts from folks who may have reviewed the US gov I savings bond with the current yield at + 7% for this cycle, driven by the recent inflation #'s.

Tried to buy about five weeks ago, unfortunately unable to access my account with Gov. site from many years ago. I have no idea what my bank routing number was when I used to buy bonds for grand children. Tried to call and after 40 minutes on hold gave up and emailed. I received answer this week and was advised to call as account access info. could not be given with email. tried to open new account and denied because of old account on file.

Can only buy 10k per calendar year.

$10k per SSN
 

That's true. $10K per SSN, so married couple can get 2.

In this ultra low interest rate environment, I buy 2 per year. I think they are a good bet right now for money seeking a safe haven. You can redeem after 1 yr if things change, virtually no risk here.

You can purchase $15k per person per calendar year. You are limited to the $10k limit on the treasury direct site plus $5k using your tax refund (by completing form 8888… you just need to overpay your estimated taxes so you have the refund coming).

I see no downside to these bonds. The principle and interest rate is guaranteed. If the interest rate attached to these bonds is lowered and becomes unattractive in the future … you can sell the bonds at any time after one year (paying a small penalty if held less than 5 years).

There is nothing not to like if you are looking for a very secure US government backed investment …. Except for the fact that you may only purchase $15k per person per year.

In my opinion the 7% rate will not last forever and is likely to be lower in the near future. But where else can you get more than 2% on US government backed bonds now?

Pulled the trigger for me two weeks ago.. Waiting for a quarterly statement before doing same for spouse. $10K each will make a nice CD like ladder.

7.12% to be exact.
Bought mine last June, great deal.

Go to: www.Treasury Direct.com

Easy Peasy

Should be .gov not .com