I bonds
Good afternoon.
I tried to purchase I bonds on the day when you talked about them on WGN TV. but there was an issue with the bank number and they were denied. The Treasury sent ne an email and wouldn’t me an email and when I called they said I had to fill out forms to correct the info before they would take the money. I received an email telling me they received the paperwork in December but I can’t get anyone to help me at the Treasury. Is it still wise to purchase I bonds?
Do you have any suggestions if not the I bonds? My mother passed away in June and I’m trying to increase my nominal inheritance because I have Multiple Sclerosis and I’m trying to build up my money so my kids don’t have to worry about me.
I know this is a long email and I apologize.
Thank you for your time.
Terry Says
Well, the way to purchase IBonds is through www.TreasuryDirect.gov, where I suspect you tried to open an online account. Remember, the current 7% rate is temporary — just through May. And it will probably drop for the next 6 month period. Read this article.
The most important thing to note is that you need to hold these iBonds for at least 5 years to get the full benefit of all those interest rates. So go ahead and try again. But don’t lock ALL of your money up. Rates are starting to rise on money-market bank accounts. Yes, they are low –but they are completely liquid, meaning you can get your money at any time.
