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Re: I-bonds or money market for Emergency Fund?
Old 07-10-2005, 02:27 PM   #21
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Re: I-bonds or money market for Emergency Fund?

I didn't know that. About how long does it take to redeem on-line I Bonds?
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Re: I-bonds or money market for Emergency Fund?
Old 07-10-2005, 03:16 PM   #22
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Re: I-bonds or money market for Emergency Fund?

I just redeemed some bonds for the first time. I entered the transaction on Friday and it was in my bank on Tuesday which is 1 or 2 working days (Monday was the 4th July).

Alan
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Re: I-bonds or money market for Emergency Fund?
Old 07-10-2005, 03:17 PM   #23
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Re: I-bonds or money market for Emergency Fund?

Nice.
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Re: I-bonds or money market for Emergency Fund?
Old 07-10-2005, 06:09 PM   #24
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Re: I-bonds or money market for Emergency Fund?

I just purchased the book All About Bonds and Bond Mutual Funds, by Esme Faerber. The author states that I-Bonds will only be redeemed 6 months after they are sold. The copyright on this book is 2000. This feature really turned me off. But now I am reading that it takes just a few days to receive your money? I hope that is true otherwise 6 months is a long time to park your cash.

LL
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Re: I-bonds or money market for Emergency Fund?
Old 07-10-2005, 07:42 PM   #25
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Re: I-bonds or money market for Emergency Fund?

Quote:
Originally Posted by LL
I just purchased the book All About Bonds and Bond Mutual Funds, by Esme Faerber. The author states that I-Bonds will only be redeemed 6 months after they are sold. The copyright on this book is 2000. This feature really turned me off. But now I am reading that it takes just a few days to receive your money? I hope that is true otherwise 6 months is a long time to park your cash.

LL
LL,

The old 6 month holding period is that one couldn't redeem the I bonds from the FED until after 6 months after you've purchased them. This holding period has been lengthened to 1 year. After you've held the I bonds for 1 year, it should only take a few days to redeem the I bonds [as stated above].

- Alec
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Re: I-bonds or money market for Emergency Fund?
Old 07-10-2005, 09:15 PM   #26
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Re: I-bonds or money market for Emergency Fund?

Alec,

Thanks for the info. You are as helpful as always.

LL
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Re: I-bonds or money market for Emergency Fund?
Old 07-11-2005, 12:17 AM   #27
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Re: I-bonds or money market for Emergency Fund?

Quote:
We have a (depleted at this point) Emergency Fund that is in a Money Market Acct.* I'm wondering whether we'd be better off putting this into I-bonds given that the interest is much better and they can be cashed early with little penalty.

Thoughts anyone?* Potential drawbacks?
Depends on what an emergency fund is to you.* For my emergency fund, i demand safety in principle and maximum liquidity of the money.* *With a money market fund, you can write a check and pay for the "emergency" on the spot.* *I presume you cant write checks on an I bond or I bond fund (unless its a money market fund that holds I bonds).

If you ask me, any kind of bond is an investment, not an "emergency fund" per se as i define it.
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