I bonds
Hi Terry,
I have an IRA along with retirement money in Thrivent Mutual Funds. I’m 62 years old and don’t want to put money in stock market right now. The government is offering 7% return on I bonds with only penalty I can see is losing last 3 months of earnings if funds are removed before 1 year . Sounds to good to be true , what are your thoughts?
Thank you ,
Bob
Terry Says
No, the penalty extends for five years! And you can’t buy Ibonds in a retiremenht account! So if you have some extra money OUTSIDE your IRA, you might buy them with that money. And remember, that rate is only for the 6 months till May 1st.
Read this article first. https://www.terrysavage.com/i-bonds-yield-7-12-chicken-money-alert/
