Keeping your savings in the bank? You could be losing money. Claire Reilly explains how to take advantage of high inflation with a simple investment that can bring big returns. 0:00 Intro 0:54 What are I Bonds 1:20 The Inflation Effect 1:55 How to Buy I Bonds 3:45 The Returns 4:47 Who is it For? 5:31 Conclusion Subscribe to CNET: Like us on Facebook: Follow us on Twitter: Follow us on Instagram: Follow us on TikTok: ...(read more)
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How to Buy I Bonds: A Beginner's Guide If you're looking for a safe and reliable investment tool that can help you protect your savings against inflation, I Bonds might be the perfect choice for you. I Bonds are savings bonds issued by the United States Department of the Treasury that are designed to offer a low-risk, long-term investment option. Here is a step-by-step guide on how to buy I Bonds: 1. Research and educate yourself: Before diving into the world of I Bonds, take some time to understand how they work and the benefits they offer. Explore the TreasuryDirect website (www.treasurydirect.gov) to gain insights into the various features and current rates of I Bonds. 2. Set up a TreasuryDirect account: To purchase I Bonds, you'll need to create an account on the TreasuryDirect website. Click on the "Open An Account" option, and follow the instructions to provide your personal information, including your social security number, date of birth, and contact details. You'll also be required to create a unique username and password. 3. Fund your account: Once your TreasuryDirect account is created, you need to fund it to purchase I Bonds. You have two options for depositing funds: linking a bank account or using an existing TreasuryDirect account. Choose the option that suits you best and complete the steps accordingly. 4. Assess your investment goals: It's important to determine how much money you want to invest in I Bonds and for how long. The minimum investment amount for I Bonds is $25, and the maximum purchase limit is $10,000 per calendar year per Social Security Number (SSN), regardless of whether it is purchased electronically through TreasuryDirect or as a paper bond. If you expect financial needs within the first 12 months, keep in mind that redeeming I Bonds before they are held for 12 months will result in the loss of the last three months of interest. 5. Purchase I Bonds: Once you have funded your TreasuryDirect account and decided on your investment amount, you're ready to buy I Bonds. Log in to your TreasuryDirect account and select the "BuyDirect" option. Follow the prompts, choose the I Bond series, and enter the desired investment amount. Make sure to double-check all details before confirming your purchase. 6. Keep track of your investments: After purchasing I Bonds, it's essential to monitor your investments regularly. TreasuryDirect provides an online inventory that displays your bonds' current value, interest rates, and maturity dates. It is advisable to review your account periodically to stay informed about your investment performance. 7. Consider tax implications: Interest earned on I Bonds is subject to federal income tax, but it is exempt from state and local taxes. You can elect to pay taxes on the earned interest annually or defer it until the bond is redeemed. Consider consulting a tax advisor for personalized advice based on your unique circumstances. 8. Redeem your bonds: I Bonds have a minimum holding period of one year, but they can be held for up to 30 years. They continue to earn interest for up to 30 years and can be cashed in any time after the one-year holding period. If you decide to redeem your bonds, you can do so through TreasuryDirect and the funds will be deposited directly into your designated account. In conclusion, I Bonds can be a valuable addition to your investment portfolio, providing a safe way to protect your savings from inflation. By familiarizing yourself with the process and following these steps to purchase I Bonds, you can make informed investment decisions that align with your financial goals. Remember to research market conditions and consult professionals when needed to make the most of your I Bond investments. https://inflationprotection.org/a-guide-on-purchasing-i-bonds/?feed_id=116096&_unique_id=64ac6ffb2617f #Inflation #Retirement #GoldIRA #Wealth #Investing #Bonds #buy #buying #cnet #Finance #howto #ibonds #news #tech #Technology #Treasury #treasurydirect #TIPSBonds #Bonds #buy #buying #cnet #Finance #howto #ibonds #news #tech #Technology #Treasury #treasurydirect
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