5.27% is the *NEW* annualized November I-Bond rate. Watch on as we talk about: the highest I-Bond fixed rate in 16 years, what your new rate will be depending on when you bought your I-Bonds & why we’re buying more I-Bonds & who might want to do what we’re doing?
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I-Bond Interest Formula:
Exact Month To Redeem I-Bonds:
Will Treasury Yields Go Higher:
TIPS vs I-Bonds:
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The U.S. Department of the Treasury recently announced that the fixed rate for new Series I Savings Bonds (I-Bonds) will be set at 1.50% for the next six months, starting from November 2023. This is the highest fixed rate for I-Bonds in over 16 years, making it an attractive option for investors looking for a low-risk, inflation-protected investment.
I-Bonds are a type of savings bond issued by the U.S. government that offer a combination of a fixed interest rate and a variable inflation rate. The fixed rate is determined at the time of purchase and remains constant for the life of the bond, while the inflation rate is adjusted every six months based on changes in the Consumer Price Index.
The November 2023 I-Bond rate of 1.50% is significantly higher than the previous rate of 0.00% that was in effect for the previous six months, and it represents a rare opportunity for investors to lock in a relatively high fixed return in the current low-interest-rate environment.
So, should investors consider buying or selling I-Bonds in light of this new rate? The answer ultimately depends on their individual financial goals and risk tolerance.
For those looking for a safe and reliable investment that offers protection against inflation, the November 2023 I-Bond rate presents an attractive opportunity to buy. With a guaranteed fixed rate of 1.50% for the next six months, investors can take advantage of the higher yield while also benefiting from potential increases in the inflation rate.
On the other hand, investors who currently hold I-Bonds with a lower fixed rate may consider selling their bonds in favor of purchasing new ones at the higher 1.50% fixed rate. However, it’s important to keep in mind that there are certain restrictions and penalties associated with selling I-Bonds before they have reached their five-year maturity date, so investors should carefully weigh the pros and cons before deciding to sell.
Overall, the November 2023 I-Bond rate of 1.50% presents an attractive opportunity for both new and existing investors. With its combination of a competitive fixed rate and inflation protection, I-Bonds can be a valuable addition to a diversified investment portfolio. As always, it’s advisable to consult with a financial advisor to determine the best course of action based on individual financial circumstances and goals.
I have 20k in I-Bonds. I started when the rate was 9.62% which was a no brainer, my wife and I bought 10k and also gifted each other 10K. Since then I have invested in several T-Bill ladders. 17 week being the first, then 8 week, then 4 week when they spiked. Things seem to have stabilized with 26 week at the top, so I am moving my 4s and 8s to the 26s. I will probably never buy more I-Bonds, as they have too many rules. I may hold them until the 5 years is up. I am 73 and don't see any reason to go beyond a 26 week term, especially when that is currently the best level for T-Bills.
Not sure if these make sense for the 60+ crowd – can they be inherited?
Why I can't buy TB with limit order?
My plans are all of the above: (1) Buy I-bonds to max, both redeeming old 0% fixed Ibonds purchased last november, and putting in new money up to max 10K for spouse, end of November; (2) Continue to scour for high quality issueances at attractive rates among own-state individual issue Munis (3) continue to build upon a ladder of short term (3mo-2 yrs) T-Bills. Bonus: also plan to buy 'paper' (ETF) and physical gold & platinum as another inflation hedge.
I don’t understand why a 1.3% fixed rate with a lower total rate is preferred over an Ibond with 0% fixed rate with a higher total interest rate. Someone please explain.
Hi Jenn, I have three i-bonds – purchased Dec 2021, Jan 2022 and Feb 2023. Was thinking of selling the 2021 bond for the new 1.3 fixed. Will I have to wait until 2024 to buy another since I already purchased 10k in 2023? I'm aware of gifting but lets say that is not an option. Thanks!
Should I sell my 4.5% bought in 2003 to new rate of 5.27%
I have a question.
If I decide to sell my I – bonds which is not past 5 years, and I am assessed the 'early withdrawal penalty'. Is that 'early withdrawal penalty' Federally tax deductible?
I cannot find the answer anywhere on the internet. I know EWP from CDs are Federally tax deductible, but all I know is that the 3months penalty is already deducted when you decide to sell it. Will I get a 1099 showing the early withdrawal penalty?
Thank you.
I SMASHED THAT LIKE BUTTON! Thanks for sharing
Amazing breakdown!
This was a great video with good advise.
Your channel puts out great, honest information. I really enjoy watching!
Way to go, keep up the great work
Very nie video.
Mam can you make some videos on Vangaurd 401K please. Vangaurd screwed up my 401 so badly. It did not recoveryet from the loss i incurred in 2022 . want to learn manage it myself as i am approaching retirement in 7 more years. Absolutely worried about my post retirement life.
The recent video presented me with two “good problems.“
First, if I redeem a 10000 IBond with the intention of reinvesting the proceeds in a new I iBond, if the redeemed iBond has a value over $10,000, what should I do with the profit? Buy short term T-bills?
Second, if I have more than 10000 iBond and want to redeem them both, but can’t fully reinvest because of the annual $10,000 limit, should I redeem one iBond now, and one in January 2024, or should I redeem them both now, And invest the “excess” in short term T-bills, until I can buy another iBond in 2024?
Hi Jennifer, I hope you can assist me with redeeming my I-Bonds. I have some bonds that I would like to redeem from October 1, 2022. Could you please provide me with the necessary steps to do so? Additionally, I was wondering if you could explain how TDirect discounts 3 months of interest on their website. I did not see 3-months interest discount at review just before submit the order to redeem.
I recommend doing T Bills which pays more, and then buy I bonds in April 2024 to catch this rate
Do you think it makes sense to redeem after 13 months and reinvest at the new rates?
Thanks!
With the yields on short term Tbills being over 5.2% right now, it's hard to lock up liquidity in I-bonds at the moment.