The Grow Your Wealthy Mindset Podcast
The Grow Your Wealthy Mindset Podcast
Episode 97: Getting More High Fixed Interest Rate I-bonds
I-bonds purchased between Nov 1, 2023 and April 30, 2023 have a fixed interest rate of 1.3%, the highest fixed rate in 15 years. Combined with the inflation rate, they are paying 5.27%. If you've ever been interested in buying I-bonds, now is the time.
If you don't particually want more I-bonds in your portfolio but you have I-bonds previously purchased at a lower fixed interest rate, you may consider cashing those out and buying the current I-bonds.
Individuals are limited to buying $10K of I-bonds annually. There is a way to get more I-bonds at the current 1.3% fixed rate by having someone else purchase gift I-bonds for you. This is perfect for married couples, who can buy gifts of I-bonds for each other. In this episode, I discuss how gifting I-bonds works and how this can be used to load up on the current I-bonds available.
The IRS has a video to guide you how to purchase I-bonds as a gift on their website https://treasurydirect.gov/indiv/tools-videos/purchase-gift-bonds/
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