Swapping I bonds for six month T bills
Is there an easy to change my I bond holdings that currently yield 2.3% for six month T bills that have a higher yield over 4%? Or do I have to cash out of the I bonds, have them send it to my bank account and then buy the T bills from Treasury Direct? Seems like there should be an easier way to do this. Or do you have a recommendation for a higher yield safe investment for my I bonds? Thanks.
Terry Says
Sorry, but you do have to sell them, get the proceeds, then purchase T-bills. You’ll pay a penalty of 3 months loss of interest. Makes some sense to me to do that.
