Did anyone snatch up an I Bond before the October 31 deadline?

[edjr 7,012]

9.62% for 6 months - 10k max

I read about it while on vacation and snatched one up at the max. Told the lady too and she did as well.

 

 

[Hawkeye21 2,457]

Never heard of it.

[edjr 7,012]

8 minutes ago, Hawkeye21 said:

Never heard of it.

https://www.cnbc.com/2022/05/02/i-bonds-to-deliver-a-record-9point62percent-interest-for-the-next-six-months.html

Had to make an account with treasurydirect.gov and put in the order.

Sorry I meant to post, but was on vacation.

This isn't like 90s and cdub selling you into a ponzi scheme 

[Baker Boy 1,711]

Didn’t they extend that.

[edjr 7,012]

1 minute ago, Baker Boy said:

Didn’t they extend math?

Covid is coming back. I would expect them to start enforcing again soon

[Hawkeye21 2,457]

So a person could put $10k in these bonds and earn interest.  Up to 9.62% for 6 months, after that the rate can change.  Must leave money there for a minimum of 1 year.  If you cash out before 5 years then you forfeit the previous 3 months of interest earned.

Am I understanding this correctly?

[Baker Boy 1,711]

3 minutes ago, edjr said:

Covid is coming back. I would expect them to start enforcing again soon

Voice conversion error. Didn’t they extend the I bond rate past the 31st?

[edjr 7,012]

2 minutes ago, Baker Boy said:

Voice conversion error. Didn’t they extend the I bond rate past the 31st?

They said they will not extend.

 

 

Quote

 

What will the I bond rate be in November 2022?

 

6.89%

 

The composite rate for I bonds issued from November 2022 through April 2023 is 6.89%.

 

Still a damn good rate

[edjr 7,012]

4 minutes ago, Hawkeye21 said:

So a person could put $10k in these bonds and earn interest.  Up to 9.62% for 6 months, after that the rate can change.  Must leave money there for a minimum of 1 year.  If you cash out before 5 years then you forfeit the previous 3 months of interest earned.

Am I understanding this correctly?

You nailed it.  Cept the rate is now 6.89 for the next 6 months

[Strike 6,030]

Based upon a thread in this forum I dumped my entire life savings in to crypto last week.  I'll be Elon Musk rich in a few months......

[Hawkeye21 2,457]

Just now, edjr said:

You nailed it. 

That's not a bad deal at all.  Much better than sitting in a savings account.

[edjr 7,012]

1 minute ago, Hawkeye21 said:

That's not a bad deal at all.  Much better than sitting in a savings account.

That is what I convinced my lady...only 10k,. she has 150k sitting in a savings account at a local bank (waiting for housing market to go down).. making less than 1%.. keep trying to get her to move it to capital one.. She ain't too bright

[JustinCharge 2,397]

1 minute ago, Strike said:

Based upon a thread in this forum I dumped my entire life savings in to crypto last week.  I'll be Elon Musk rich in a few months......

wait, i thought we were all that rich here?  at least in santa barbara it feels like it.

[edjr 7,012]

Just now, JustinCharge said:

wait, i thought we were all that rich here?  at least in santa barbara it feels like it.

Rich enough I won't miss 10k for a while... but I have a ways to for Elon rich

[Strike 6,030]

Just now, edjr said:

That is what I convinced my lady...only 10k,. she has 150k sitting in a savings account at a local bank (waiting for housing market to go down).. making less than 1%.. keep trying to get her to move it to capital one.. She ain't too bright

Well, yeah, figured that out after you posted that she was your lady. 

[Hawkeye21 2,457]

1 minute ago, edjr said:

That is what I convinced my lady...only 10k,. she has 150k sitting in a savings account at a local bank (waiting for housing market to go down).. making less than 1%.. keep trying to get her to move it to capital one.. She ain't too bright

Dang.  That's a healthy savings account.  I think my savings account interest is .05% which is pathetic.

[edjr 7,012]

3 minutes ago, Strike said:

Well, yeah, figured that out after you posted that she was your lady. 

after 12 years.. you ain't focking kidding there. 

[edjr 7,012]

4 minutes ago, Hawkeye21 said:

Dang.  That's a healthy savings account.  I think my savings account interest is .05% which is pathetic.

I bet hers is less.  Since I told her to buy some meme stock like 2 years ago, she doesn't trust me much   

I Bond is a no brainer though,. can't lose

[WhiteWonder 2,982]

3 hours ago, Hawkeye21 said:

That's not a bad deal at all.  Much better than sitting in a savings account.

 

3 hours ago, edjr said:

That is what I convinced my lady...only 10k,. she has 150k sitting in a savings account at a local bank (waiting for housing market to go down).. making less than 1%.. keep trying to get her to move it to capital one.. She ain't too bright

My savings account  is earning 3%. I considered the 9% I bond but not sure I’d bother for current rate given the stipulations vs. my completely liquid account. When I’m ready to jump back into the market I can do so with ease. 

[Horseman 2,687]

Too much of a hassle for a lousy 10K.  

[Mike Honcho 5,534]

Bonds hasn't played in 15 years or so---sure pick him up, but I wouldn't trade for him. 

[Cdub100 3,996]

7 hours ago, edjr said:

https://www.cnbc.com/2022/05/02/i-bonds-to-deliver-a-record-9point62percent-interest-for-the-next-six-months.html

Had to make an account with treasurydirect.gov and put in the order.

Sorry I meant to post, but was on vacation.

This isn't like 90s and cdub selling you into a ponzi scheme 

The fiat monetary system is the largest Ponzi ever created. 

[edjr 7,012]

4 hours ago, Horseman said:

Too much of a hassle for a lousy 10K.  

Dumb money don't make money

[Thornton Melon 651]

On 11/3/2022 at 11:56 AM, Hawkeye21 said:

Dang.  That's a healthy savings account.  I think my savings account interest is .05% which is pathetic.

3% is just a few clicks away

https://www.bankrate.com/landing/savings/rates/?mf_ct_campaign=&pid=sem_savings_autobidding&sortprods=&prods=&ttcid=savings account rates|c|kwd-20827290|g|9001895&utm_source=google&utm_medium=cpc&utm_term=savings account rates&utm_cmpid=13258398852&utm_adgid=130758835338&utm_tgtid=kwd-20827290&utm_mt=b&utm_adid=559785619165&utm_dvc=c&utm_ntwk=g&utm_adpos=&utm_plcmnt=&utm_locphysid=9001895&utm_locintid=&utm_feeditemid=&utm_devicemdl=&utm_plcmnttgt=&utm_campaign=sem_savings_autobidding

 

[easilyscan 1,062]

On 11/3/2022 at 6:38 PM, Cdub100 said:

The fiat monetary system is the largest Ponzi ever created. 

A+

An entity, that if you count the unfunded liabilities from Social Security & Medicare, & is already around $100 trillion in debt, paying 9.62% a year, should send a chill up the spine of anyone who isn't developmentally disabled.

'People' like AOC, Bernie Sanders, & Elizabeth Warren are proponents of MMT. (Modern Monetary Theory)

The basic argument from MMT promoters, is that “anything that is technically feasible is financially affordable,” because a government that creates its own currency can borrow in that currency and then pay off the resulting debt by creating more of it.

Anyone who even considers this as a feasible monetary theory, should be institutionalized.

 

[edjr 7,012]

13 hours ago, Thornton Melon said:

3% is just a few clicks away

https://www.bankrate.com/landing/savings/rates/?mf_ct_campaign=&pid=sem_savings_autobidding&sortprods=&prods=&ttcid=savings account rates|c|kwd-20827290|g|9001895&utm_source=google&utm_medium=cpc&utm_term=savings account rates&utm_cmpid=13258398852&utm_adgid=130758835338&utm_tgtid=kwd-20827290&utm_mt=b&utm_adid=559785619165&utm_dvc=c&utm_ntwk=g&utm_adpos=&utm_plcmnt=&utm_locphysid=9001895&utm_locintid=&utm_feeditemid=&utm_devicemdl=&utm_plcmnttgt=&utm_campaign=sem_savings_autobidding

 

Captial One is up to 3. Good to see. I am good to keep my money there. That is outstanding. 

 

Quote

 

Oct31

Monthly Interest Paid

 

Interest+$195.04

 

:o 

[edjr 7,012]

https://finance.yahoo.com/m/94a99103-6a94-38dd-8a71-110e60289889/it’s-time-to-buy-i-bonds.html

 

Quote

It’s time to buy I-bonds again. Here are 3 ways to maximize your $10,000 inflation-fighting investment.

 

Still a good time to buy. 10k per year

[Mookz 1,385]

On 11/5/2022 at 8:21 AM, edjr said:

Captial One is up to 3. Good to see. I am good to keep my money there. That is outstanding. 

 

I was with Ally at 3.30% but just moved all my free cash to Robinhood.  Robinhood Gold costs $5/month and currently pays 4.00% interest.  

[edjr 7,012]

1 minute ago, Mookz said:

I was with Ally at 3.30% but just moved all my free cash to Robinhood.  Robinhood Gold costs $5/month and currently pays 4.00% interest.  

4 is very good. all my extra money in Cap one 360 performance savings it is 3.5

but 6.5 and the prospects of it going higher for 6 months is pretty good. 

[TimHauck 3,377]

On 1/5/2023 at 4:42 PM, edjr said:

4 is very good. all my extra money in Cap one 360 performance savings it is 3.5

but 6.5 and the prospects of it going higher for 6 months is pretty good. 

Inflation has been declining, doubt the I bond rate will go up.

[TimHauck 3,377]

On 1/5/2023 at 4:42 PM, edjr said:

4 is very good. all my extra money in Cap one 360 performance savings it is 3.5

I use Citizens Access.  Currently 3.75

[JustinCharge 2,397]

On 11/3/2022 at 12:31 PM, Horseman said:

Too much of a hassle for a lousy 10K.  

yup.  its so stupid.  its too small of an amount to change anyones life.  so you are basically locking away your money for nothing.

[edjr 7,012]

3 minutes ago, JustinCharge said:

yup.  its so stupid.  its too small of an amount to change anyones life.  so you are basically locking away your money for nothing.

it is not locked away. This isn't a Chargers thread. You can't just make sh1t up. 

[JustinCharge 2,397]

2 hours ago, TimHauck said:

Inflation has been declining, doubt the I bond rate will go up.

historically, inflation is a EXTREMELY volatile concept.  Venezuela is some pretty mean bush.  Their inflation rate went from 100% to 800% in 10 months, then back down to 50% a year later.  then back up to 1000% a year later.

https://4.bp.blogspot.com/-kG16PZK2EcU/WYCsXE3eCUI/AAAAAAAAt0A/n_8Lx09sM6ENKloCxwmrCJO9KrdUBSBPgCLcBGAs/s1600/DGE7VN0U0AE4e2h.jpg

 

 

In the US in the 70s and 80s, it went wild as well.  it went from 3% in 73, to 12% in 76, to 5% a few months later, then back up to 14% around 80. 

https://i.imgur.com/1EDlOLb.jpeg

 

the fact that you seem to have an inclination to extrapolate out the current move shows you dont understand economics.  inflation whipsaws.

[JustinCharge 2,397]

6 minutes ago, edjr said:

it is not locked away. This isn't a Chargers thread. You can't just make sh1t up. 

idiot.  it is if you want to take that money. and you obviously havent interacted with investors before.  they will leave it in there and be afraid to move it.

[edjr 7,012]

1 minute ago, JustinCharge said:

idiot.  it is if you want to take that money. and you obviously havent interacted with investors before.  they will leave it in there and be afraid to move it.

Sorry you're poor and don't have an extra 10 grand to make you 1000 in a year. 

 

[JustinCharge 2,397]

4 minutes ago, edjr said:

Sorry you're poor and don't have an extra 10 grand to make you 1000 in a year. 

 

1000 does nothing for anyone.    $83 per month.  and you puff out your chest over that. 

I assume you make $10k per month at least.  So you are patting yourself on the back over nickels. 

[TimHauck 3,377]

2 hours ago, JustinCharge said:

historically, inflation is a EXTREMELY volatile concept.  Venezuela is some pretty mean bush.  Their inflation rate went from 100% to 800% in 10 months, then back down to 50% a year later.  then back up to 1000% a year later.

https://4.bp.blogspot.com/-kG16PZK2EcU/WYCsXE3eCUI/AAAAAAAAt0A/n_8Lx09sM6ENKloCxwmrCJO9KrdUBSBPgCLcBGAs/s1600/DGE7VN0U0AE4e2h.jpg

 

 

In the US in the 70s and 80s, it went wild as well.  it went from 3% in 73, to 12% in 76, to 5% a few months later, then back up to 14% around 80. 

https://i.imgur.com/1EDlOLb.jpeg

 

the fact that you seem to have an inclination to extrapolate out the current move shows you dont understand economics.  inflation whipsaws.

Lol at comparing to Venezuela.

And nice 50 year old US example.  I said "I doubt," so yes it's possible it will reverse course, but it's been trending down recently.  The safe bet is that it will continue to do so.

https://www.statista.com/statistics/273418/unadjusted-monthly-inflation-rate-in-the-us/

 

[edjr 7,012]

just checked. worth $10,910  

Not sure where else you could make 900 in a year risk free.