I Bond
I am 77 yr old female with a paper I Bond. I want to cash in in order to keep my finances simple for my daughter. My question is where can I move my money, approx $20,000.00 without tying up for years and still earn a decent interest return. I have thought about money market, but seems like best returns are only the on-line accounts, which I dont feel safe in doing. Any suggestions are greatly appreciated. Thanks,
Terry Says
Probably you shouldn’t cash that I-bond. That will create a taxable event — and if you haven’t held the bond for 5 years, you’ll lose 3 months interest.
Instead, add your daughter as a beneficiary.
Instructions on how to do that are in the final paragraphs of this article.
