Two things to remember: (1) You cannot redeem them for one year. (2) If you redeem them prior to holding for 5 years you lose the last three months of interest.9 percent for 6 months - win win. If I drops to 7 percent, still not bad.
Two things to remember: (1) You cannot redeem them for one year. (2) If you redeem them prior to holding for 5 years you lose the last three months of interest.9 percent for 6 months - win win. If I drops to 7 percent, still not bad.
Now that's funny. If that actually happens I'm gonna dial up the Weather Channel to see if Hell has frozen over.But, if we do get very high interest rates (approaching or passing double digits), you can't lock them in with I-bonds because inflation may go down as the Fed tightens and our elected representatives show more bi-partisan fiscal responsibility.
Two things to remember: (1) You cannot redeem them for one year. (2) If you redeem them prior to holding for 5 years you lose the last three months of interest.
That’s fine, plan to hold till I retired , income around 180k and a bunch of stacked cash and real estate (1.4 million in real estate)
One further question - anybody Utilize the individual account and an LLC account at TD for a second 10k contribution. I have a well established company already. Would be nice if I could dump about 10k from the company. Any feedback or experience with that.
Sorry if this has been answered already, but but looking through 896 posts appeared daunting. I have I bonds that go back to the early days of issuance when there was a guaranteed base rate. After that, it went to 0 and interest rates became low, I stopped buying them. I did my $10K for me and $10K for my wife with no problem. I was under the impression that we were limited to that amount. Is it possible for each of us to gift the other another $10K each? We have a trust, but it's a revocable joint trust, and I'm not sure about that either. Any ideas on how to increase the amount that can be purchased by a married couple? TYIA.
You can buy each a gift for each other (but not deliver the gift) of repeated $10K amounts. But the catch is you will in the future only be able to deliver 1 per year to the other spouse (each) and it counts against the spouse being able to buy any more I-bonds that year.
DW and I bought 3 gifts for each other and will deliver the gifts as follows:
2023 -> $10K plus interest to DW, $10K plus interest to me.
2024 -> $10K plus interest to DW, $10K plus interest to me.
2025 -> $10K plus interest to DW, $10K plus interest to me.
If I-bonds are still paying a high rate in 2023 , we will probably buy another gift for each other, as we will not be allowed to buy anything in our accounts.
gifts age and earn interest while sitting in the giftbox and not yet delivered, that is a big advantage of them.
Currently banks like mine charge customers 0.75 interest on deposits above a threshold
I am confused. I think you are saying that you buy the bonds for advance delivery to receive the interest. What I'm trying to find out if there is any way, other than a trust or company, to exceed the $20K limit for 2 people. I am guessing you use your method as there is no way to exceed the $10K per person limit. I did not realize you could buy gift bonds in advance and deliver them in a later year. Do you need separate TD accounts to do that?
I am confused. I think you are saying that you buy the bonds for advance delivery to receive the interest. What I'm trying to find out if there is any way, other than a trust or company, to exceed the $20K limit for 2 people. I am guessing you use your method as there is no way to exceed the $10K per person limit. I did not realize you could buy gift bonds in advance and deliver them in a later year. Do you need separate TD accounts to do that?
I am seeing gifts on the IRS site about Gifts. Can you point me to where it says if you hold the gift till January it still grows interest but doesnt go against the recipients $10K limit? I can't find that documented
But some customers—the Treasury says it doesn’t know how many—aren’t instantly approved. If the information those people enter doesn’t match the data that the Treasury’s verification service has on file, they must verify their identity by getting their signature certified on a document known as Form 5444. The Treasury says banks and brokerage employees, among others, may do that. Then the customer has to submit the form by snail mail.
Besides a medallion stamp, banks can also use similar procedures including something called a signature guarantee. But some banks are declining to certify the forms out of concerns about liability.
A Treasury spokesman said the agency may soon permit any notary public to certify individuals’ identities.
Account holders must use a mouse or trackpad to enter their password on a ghostly gray online keyboard with no lower-case letters. Treasury officials say they are working on updating the website, which will take at least six to nine months.
On one attempt, “the recording estimated an hour-and-a-half wait when I started,” said Ms. Andrews. More than an hour later, the estimated wait had risen to 2½ hours, at which point “the battery in my cordless phone went dead.”
After trying intermittently since April, in early June she braved two hours and 13 minutes on hold until a “very helpful” customer-service representative picked up and restored her access in a few moments.
Louise Andrews, a retiree in Williamsburg, Va., had to change the email address associated with her TreasuryDirect account after her old email got hacked. But the government’s website wouldn’t let her enter a new email address, because her old one was invalid.
https://www.wsj.com/articles/i-bond...de-you-crazy-try-buying-an-i-bond-11656508854
Just in case some may think these I-bond issues are not serious.
Among the facts - the Treasury has 40 full time people in its call center. But they are hiring more.
https://www.wsj.com/articles/i-bond...de-you-crazy-try-buying-an-i-bond-11656508854
Just in case some may think these I-bond issues are not serious.
Among the facts - the Treasury has 40 full time people in its call center. But they are hiring more.
The many denizens of this community would make EXCELLENT employees for their call center in terms of knowledge and nimbleness. A potential part time job. They should come here and try to hire a few folks .
A refund of the excess purchase will be made to the bank account where the purchase originated. You should receive your refund approximately 8 to 10 weeks from the date of purchase.
I wouldn't be surprised if the Bond stays there. I inadvertently went over the limit earlier this year and I got the email but they never reversed the purchase. That was in February. My error was much smaller, $415, but I think by now you're in the clear.Interesting wrinkle in the system. DW set up an account to buy an I-bond back in March. First time for her. She bought her first one for $10K and all was fine. Then she tried to buy one as a gift for me, but it accidentally got wrongly registered to her, thanks to the stunningly well designed TD website.
So she got an email informing her that the purchase exceeded the annual limitation.
Fine, and understood. But that was over 19 weeks ago. Both bonds are shown in her account, bought on the same day. I have heard that TD sometimes overlooks the error for first time buyers, and I'm wondering if that happened here. Granted they are overwhelmed with volume this year, but still...