I-Bonds (Reader takes Terry to task!)
RE: https://www.terrysavage.com/i-bond-rate-update-and-some-advice/
Thanks a LOT Terry !!!
Great job on only providing HALF the information needed to make a sound financial choice when you basically advised everyone to run (not walk) to buy I Bonds at 9.62% before November 2022. Now you come back and say “OOPS!”… these I-Bonds have a Base Rate of ZERO !!! Maybe you should take a penalty now and sell them.
Your article makes it sound like you are trying to blame the Treasury… but it is YOUR FAULT !!! The Treasury did NOT change the rules on these Bonds … YOU only did a half-ass job of vetting this product with any due diligence.
Your article starts by saying: Remember when you rushed to buy Series I bonds a year ago … When your article SHOULD say: Remember when I advised you to rush out to buy Series I bonds a year ago
Based on your original advice, I purchased those I-Bonds … and even worse … I advised all my Family & Friends do the same. Now I have to go back and tell them the REAL truth and I will look like the idiot for listening to YOUR unsound advice.
I WILL NEVER TAKE ADVICE FROM YOU ON ANYTHING AGAIN
… AND THAT IS WHAT I WILL NOW BE SHARING WITH ALL MY FRIENDS & FAMILY.
YOU SHOULD BE ASHAMED OF YOURSELF !!!
Terry Says
I love ALL my readers — even when they criticize me! Sorry you didn’t have the full picture of changing rates when you purchased. Frankly, I didn’t even think about the possibility of a higher floor/base rate in the future, and was mostly concerned with telling people that the 6-month variable rate could fall if inflation waned.
But in the long run, I think you’ll be happy in whatever form of “chicken money” you chose — T-bills, I-bonds, or short-term Treasury notes. This is the money that lets you sleep at night, knowing you won’t lose it. So I hope my chicken money advice doesn’t keep you up at night!
