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By Terry Savage on December 03, 2023 | Chicken Money

Almost two years ago I followed your recommendation and (I thought) I had bought a 5 year bond for. $1,000 a month. Everything was going good until I received a message indicating I had reached my payroll withdrawal. I’m retired and I have no payroll withdrawal. The person I spoke to at Treasury Direct indicated the last withdrawal was in October since they can only do 10 month withdrawal. The problem is I started this in June 2022 and up until November the withdrawal was taken out of my account with no stoppage. I asked said person if the withdrawal would then start again in January but she had no idea and her computer stopped working and try calling back the end of January. What do I do now?

Terry Says

Wait, if you’re retired you can’t have a “payroll withdrawal.”
And I frankly haven’t heard about signing up for a monthly purchase plan for I-bonds.
But it sounds like that because you can only buy $10,000 in I-bonds in one year.

Please write back to the email you receive saying your question has been answered. Give me your phone number and the address you used on your TreasuryDirect account, and I’ll have someone there look into it.



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