I-bonds
I thought I put my money in T-bills but it looks like I made a mistake and put them into a savings bond. I have $10,000 and I gained an interest of 1000 some odd dollars. My question is how or can I move that over to a T bill so in case I need it I can get it? I’m 70 years old and this was kind of an extra cash savings but now I am going to start needing to make some adjustments and remodeling on my home. If I want to stay in it, any help and suggestion would greatly be appreciated. I listen to you and WGN all the time, and I appreciate your knowledge . Thank you in advance.
Terry Says
Well, you can’t really do that until you’ve held them for one year. And if you do sell your savings bonds, you’ll pay a penalty of 3 months loss of interest. Until recently, interest rates on Series I bonds were pretty high. So I’d suggest waiting another few months before cashing them in! Please try to find the money for your remodeling elsewhere, as this is a pretty good investment for you.
