Substantial U.S. Presence :: home :: Revenge of the USB drive cases
* I-Bonds -> iBonds *
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Blueprint for Financial Prosperity has a nice post about setting up a Treasury Direct account. The item of interest is the I-Bond. Here's a nice summary of I-Bond interest calculation and rules. Basically, it's a government savings bond that has the interest tied to two different components: a fixed rate which gets tacked to the bond and a floating "inflation rate" that gets changed every six months. Basically it's a bond that reevaluates itself every six months...very nice. MyMoneyBlog has a post on how to predict the I-Bond rates and they're predicting almost 7% when the rates get recalculated this November! The penalties for withdrawl are very minimal which also is pointing me in that direction. Minimum hold time of 12 months then if you withdrawl between 1-5 years you forfeit just 3 months interest. No penalty after 5 years. Nice! Anyway, who knew bonds were so interesting? Maybe the Treasury should rename them to "iBonds" instead of I-Bonds so they can make bonds as cool as iPods.
Oh yeah, Blueprint also posts the Emigrant Direct routing number info to make your life a little easier when applying for the Treasury Direct account. (Here it is for my own reference in the future: (Name: Emigrant Savings Bank, Routing #: 226070319)).
» Opening Treasury Direct Account by Blueprint for Financial Prosperity
[via Blueprint for Financial Prosperity]
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Archived Comments (2) Post a new comment below.
Would it be best to buy ibonds in increments of 3 @10K rather than 1@ 30K? I'm thinking that if I needed money, but not all of the 30K during the first 5 years, I could cash out and pay penalty on 10K or 20K rather than on the full 30K? I'm thinkin of it like laddering. Make sense?
Thanks,
Steve
Steveolevi | December 14, 2005 10:40 PM
Thanks for the link Tommy, if you ever have any questions on stuff just shoot me an email.
Cheers,
jim
jim | October 24, 2005 02:35 PM