I Bonds Mega Thread (I Bond Heads Rejoice!)

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Stubbie
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Re: How about "I" Bonds

Post by Stubbie »

nedsaid wrote: Sat Nov 20, 2021 10:55 am Enthusiastically recommended.
+100
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samsoes
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Re: How about "I" Bonds

Post by samsoes »

vest74 wrote: Sat Nov 20, 2021 9:11 am Are I bonds a good idea in this environment? What are the negatives?
They're a screaming deal for cash right now, despite the comments from folks saying they couldn't be bothered with 7.12%. Get $10k now, and another in January. (Same applies to your spouse, if married.)

In addition, you can make an estimated payment to your 2021 income taxes and claim that refund (up to $5k) as paper I-bonds using form 8888.

For additional gory detail, is a huge thread regarding I-bonds it's someone referenced above.
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OpenMinded1
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by OpenMinded1 »

goodenyou wrote: Thu Nov 11, 2021 11:02 am
furiouschads wrote: Thu Nov 11, 2021 9:31 am
goodenyou wrote: Wed Nov 10, 2021 8:48 am
acegolfer wrote: Wed Nov 10, 2021 8:44 am
Thesaints wrote: Wed Nov 10, 2021 8:12 am
I need to dust off the clothes from the late 1970s/early 80's and completely relive the misery of inflation.
iBonds were not available during the high inflation period in the 70s and 80s. They are now. They are a useful tool for protecting some of the low-risk portion of the portfolio from inflation going forward. If we have deflation, they will be great for that period as well.
I am aware that they weren’t available in the 70s and 80s. At the restricted purchase of $10,000 per year per SS#, they will do very little in protecting my portfolio from inflation. As I age, I have a bigger and bigger “low risk” portion of my portfolio.
I hear what you are saying about the $10K per year limit per SS#. No they weren't around back in the 70s and 80s, but I have some that I bought in 2002 that currently have an interest rate of 9.19%. (Just had to tell someone. :D )
tibbitts
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Re: How about "I" Bonds

Post by tibbitts »

Bogleheads are probably a little too excited about I-bonds right now, but there's a tendency here to downplay the hassle factor for everything from brokerage/bank bonuses to manufactured spending for credit cards. But if those activities are a hobby for you then they aren't a hassle, of course. I know I cringed at buying some a last month after I'd promised myself to never buy again at less than .5%. I probably wouldn't have bought if I hadn't already had a TD account.
tibbitts
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Re: How about "I" Bonds

Post by tibbitts »

samsoes wrote: Sat Nov 20, 2021 11:01 am
vest74 wrote: Sat Nov 20, 2021 9:11 am Are I bonds a good idea in this environment? What are the negatives?
They're a screaming deal for cash right now, despite the comments from folks saying they couldn't be bothered with 7.12%. Get $10k now, and another in January. (Same applies to your spouse, if married.)

In addition, you can make an estimated payment to your 2021 income taxes and claim that refund (up to $5k) as paper I-bonds using form 8888.

For additional gory detail, is a huge thread regarding I-bonds it's someone referenced above.
The 8888 would have to be an acquired taste, in that you risk USPS delivery issues for multiple tiny-denominations bonds, both when you receive them, and again when you convert them to electronic form (which most of us have to do eventually for purposes of registration changes, or just desire to consolidate bond holdings for estate considerations.)
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goodenyou
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by goodenyou »

OpenMinded1 wrote: Sat Nov 20, 2021 11:10 am
goodenyou wrote: Thu Nov 11, 2021 11:02 am
furiouschads wrote: Thu Nov 11, 2021 9:31 am
goodenyou wrote: Wed Nov 10, 2021 8:48 am
acegolfer wrote: Wed Nov 10, 2021 8:44 am
I need to dust off the clothes from the late 1970s/early 80's and completely relive the misery of inflation.
iBonds were not available during the high inflation period in the 70s and 80s. They are now. They are a useful tool for protecting some of the low-risk portion of the portfolio from inflation going forward. If we have deflation, they will be great for that period as well.
I am aware that they weren’t available in the 70s and 80s. At the restricted purchase of $10,000 per year per SS#, they will do very little in protecting my portfolio from inflation. As I age, I have a bigger and bigger “low risk” portion of my portfolio.
I hear what you are saying about the $10K per year limit per SS#. No they weren't around back in the 70s and 80s, but I have some that I bought in 2002 that currently have an interest rate of 9.19%. (Just had to tell someone. :D )
Amen. Me too. The limit was $30k per year per SS# back then too! And they came with a special decoder card as a bonus!
"Ignorance more frequently begets confidence than does knowledge" | “At 50, everyone has the face he deserves”
vest74
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by vest74 »

Thanks all, seeing we are 71, prolly not a great thing to start as we are trying to simplify things................
carminered2019
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by carminered2019 »

Bought my 1st-10K 2 hours ago for EF and wait to see if everything went through ok then I will sign up for my wife.

Big thanks to people on this forum since I did not know anything about I-bonds until last couple weeks.
acegolfer
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by acegolfer »

Married couple bought $10k each in their respective individual TD account. Can the husband link the wife's account so that he can see both balances?
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HueyLD
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by HueyLD »

acegolfer wrote: Sun Nov 21, 2021 9:22 am Married couple bought $10k each in their respective individual TD account. Can the husband link the wife's account so that he can see both balances?
Yes!

“ You may grant View rights only to a security held in your name to any individual TreasuryDirect account holder. View/Transact rights may be granted to the second-named registrant of a security with Primary Owner registration. View rights may only be granted to the Beneficiary of a security with that registration. Transact rights allow the second-named registrant, or grantee, to transfer a security, as well as change the maturity and/or interest payment destination. Note: View/Transact rights are not available in entity accounts.

Log into your primary TreasuryDirect® account.
Click the ManageDirect tab at the top of the page.
Select Assign View or Transact rights from the Manage My Securities box.
On the Assign Rights page, choose the type of security you wish to assign rights for, and click "Select".
On the Assign Rights Summary page, choose the security you wish to assign rights to, and click "Select".
On the Assign Rights Detail page, click the "Add" button at the bottom of the page.
On the Add Rights page,
Enter the grantee's account number in the Grantee's TreasuryDirect Account # field.
Choose rights you wish to grant (The page will default to View rights only. If you wish to grant Transact rights, choose the appropriate radio button).
Click "Submit".
The Assign Rights Summary page will be displayed with a message describing the type of rights granted and the name of the grantee. The message will also advise an e-mail has been sent to the grantee explaining the rights you granted.

Note: View and Transact Rights may also be edited or deleted by clicking the "Edit" or "Delete" button at the bottom of the Assign Rights Detail page.”

https://www.treasurydirect.gov/indiv/he ... #grantview
BrokerageZelda
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by BrokerageZelda »

HueyLD wrote: Sun Nov 21, 2021 10:08 am
acegolfer wrote: Sun Nov 21, 2021 9:22 am Married couple bought $10k each in their respective individual TD account. Can the husband link the wife's account so that he can see both balances?
Yes!

“ You may grant View rights only to a security held in your name to any individual TreasuryDirect account holder. View/Transact rights may be granted to the second-named registrant of a security with Primary Owner registration. View rights may only be granted to the Beneficiary of a security with that registration. Transact rights allow the second-named registrant, or grantee, to transfer a security, as well as change the maturity and/or interest payment destination. Note: View/Transact rights are not available in entity accounts.

Log into your primary TreasuryDirect® account.
Click the ManageDirect tab at the top of the page.
Select Assign View or Transact rights from the Manage My Securities box.
On the Assign Rights page, choose the type of security you wish to assign rights for, and click "Select".
On the Assign Rights Summary page, choose the security you wish to assign rights to, and click "Select".
On the Assign Rights Detail page, click the "Add" button at the bottom of the page.
On the Add Rights page,
Enter the grantee's account number in the Grantee's TreasuryDirect Account # field.
Choose rights you wish to grant (The page will default to View rights only. If you wish to grant Transact rights, choose the appropriate radio button).
Click "Submit".
The Assign Rights Summary page will be displayed with a message describing the type of rights granted and the name of the grantee. The message will also advise an e-mail has been sent to the grantee explaining the rights you granted.

Note: View and Transact Rights may also be edited or deleted by clicking the "Edit" or "Delete" button at the bottom of the Assign Rights Detail page.”

https://www.treasurydirect.gov/indiv/he ... #grantview
+1

One addition that tripped me up the first time: To view bonds in other people's accounts on which you have been granted access, you will need to go to the ManageDirect tab and look under "Manage My Shared Securities". (That means "shared with you", not "that you have shared with others".)
They will not be mixed in with 'your' bonds in the normal view menus.
SnowBog
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by SnowBog »

BrokerageZelda wrote: Sun Nov 21, 2021 10:15 am
HueyLD wrote: Sun Nov 21, 2021 10:08 am
acegolfer wrote: Sun Nov 21, 2021 9:22 am Married couple bought $10k each in their respective individual TD account. Can the husband link the wife's account so that he can see both balances?
Yes!

“ You may grant View rights only to a security held in your name to any individual TreasuryDirect account holder. View/Transact rights may be granted to the second-named registrant of a security with Primary Owner registration. View rights may only be granted to the Beneficiary of a security with that registration. Transact rights allow the second-named registrant, or grantee, to transfer a security, as well as change the maturity and/or interest payment destination. Note: View/Transact rights are not available in entity accounts.

Log into your primary TreasuryDirect® account.
Click the ManageDirect tab at the top of the page.
Select Assign View or Transact rights from the Manage My Securities box.
On the Assign Rights page, choose the type of security you wish to assign rights for, and click "Select".
On the Assign Rights Summary page, choose the security you wish to assign rights to, and click "Select".
On the Assign Rights Detail page, click the "Add" button at the bottom of the page.
On the Add Rights page,
Enter the grantee's account number in the Grantee's TreasuryDirect Account # field.
Choose rights you wish to grant (The page will default to View rights only. If you wish to grant Transact rights, choose the appropriate radio button).
Click "Submit".
The Assign Rights Summary page will be displayed with a message describing the type of rights granted and the name of the grantee. The message will also advise an e-mail has been sent to the grantee explaining the rights you granted.

Note: View and Transact Rights may also be edited or deleted by clicking the "Edit" or "Delete" button at the bottom of the Assign Rights Detail page.”

https://www.treasurydirect.gov/indiv/he ... #grantview
+1

One addition that tripped me up the first time: To view bonds in other people's accounts on which you have been granted access, you will need to go to the ManageDirect tab and look under "Manage My Shared Securities". (That means "shared with you", not "that you have shared with others".)
They will not be mixed in with 'your' bonds in the normal view menus.
As a reminder/clarification... There isn't a way to do this at the "account" level, it's done at the "bond" level. So don't forget to repeat the steps for future bonds purchased.
acegolfer
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by acegolfer »

Question about "Add New Registration".

Imagine the husband wants to add the wife as the 2nd named registrant. If he buys $10k using this registration, will it also count towards wife's annual limit? I believe the answer is no but couldn't find definite answer in TD.gov.
BrokerageZelda
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by BrokerageZelda »

acegolfer wrote: Sun Nov 21, 2021 12:21 pm Question about "Add New Registration".

Imagine the husband wants to add the wife as the 2nd named registrant. If he buys $10k using this registration, will it also count towards wife's annual limit? I believe the answer is no but couldn't find definite answer in TD.gov.
The answer is no. The 1st named registrant is always the 'real owner' because they can remove the 2nd name at will (unlike with OR paper or converted paper bonds). So the husband buying $10k POD/WITH wife does not affect the wife's purchase limit, because her name was not 1st on any of them.
idoc2020
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by idoc2020 »

HueyLD wrote: Sun Nov 21, 2021 10:08 am
acegolfer wrote: Sun Nov 21, 2021 9:22 am Married couple bought $10k each in their respective individual TD account. Can the husband link the wife's account so that he can see both balances?
Yes!

“ You may grant View rights only to a security held in your name to any individual TreasuryDirect account holder. View/Transact rights may be granted to the second-named registrant of a security with Primary Owner registration. View rights may only be granted to the Beneficiary of a security with that registration. Transact rights allow the second-named registrant, or grantee, to transfer a security, as well as change the maturity and/or interest payment destination. Note: View/Transact rights are not available in entity accounts.

Log into your primary TreasuryDirect® account.
Click the ManageDirect tab at the top of the page.
Select Assign View or Transact rights from the Manage My Securities box.
On the Assign Rights page, choose the type of security you wish to assign rights for, and click "Select".
On the Assign Rights Summary page, choose the security you wish to assign rights to, and click "Select".
On the Assign Rights Detail page, click the "Add" button at the bottom of the page.
On the Add Rights page,
Enter the grantee's account number in the Grantee's TreasuryDirect Account # field.
Choose rights you wish to grant (The page will default to View rights only. If you wish to grant Transact rights, choose the appropriate radio button).
Click "Submit".
The Assign Rights Summary page will be displayed with a message describing the type of rights granted and the name of the grantee. The message will also advise an e-mail has been sent to the grantee explaining the rights you granted.

Note: View and Transact Rights may also be edited or deleted by clicking the "Edit" or "Delete" button at the bottom of the Assign Rights Detail page.”

https://www.treasurydirect.gov/indiv/he ... #grantview
I set up accounts for myself and every member of my family. I used my email address and the same phone numbers, passwords, mailing address etc on every account. The only thing that was different was the name of the individual and the SS #. I put $10K in each one and the money all came from the same bank account. I can now log on to whichever account I want and view anything. I just did this today and am waiting until tomorrow to see if it all worked out well. I also set up an account for my S-corp and for a trust. It was pretty easy.
cnc449
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by cnc449 »

acegolfer wrote: Thu Nov 11, 2021 10:46 am
tj wrote: Thu Nov 11, 2021 10:41 am I'm confused. The first 6 months earns 3.54% and the second 6 onths earns 7.12%. Disregarding 3 month penalty, will my $10k deposit earn $533 over 12 months or some other number?
In the 1st 6 months, you will earn 3.54%/2 * $10,000 = $177 interest.
In the 2nd 6 months, you will earn 7.12%/2 * $10,177 = $362.30 interest (interests are compounded semiannually)
In sum, you will earn $539.30 interest (disregarding penalty) in 12 months.

IOW, 5.3930% APY.
When will the interest appear in your TreasuryDirect account? At the end of 6 months?
BrokerageZelda
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by BrokerageZelda »

cnc449 wrote: Mon Nov 22, 2021 12:30 pm
acegolfer wrote: Thu Nov 11, 2021 10:46 am
tj wrote: Thu Nov 11, 2021 10:41 am I'm confused. The first 6 months earns 3.54% and the second 6 onths earns 7.12%. Disregarding 3 month penalty, will my $10k deposit earn $533 over 12 months or some other number?
In the 1st 6 months, you will earn 3.54%/2 * $10,000 = $177 interest.
In the 2nd 6 months, you will earn 7.12%/2 * $10,177 = $362.30 interest (interests are compounded semiannually)
In sum, you will earn $539.30 interest (disregarding penalty) in 12 months.

IOW, 5.3930% APY.
When will the interest appear in your TreasuryDirect account? At the end of 6 months?
The interest is added every month. The totals displayed on the TD website will account for the 3 month early redemption penalty by applying a 3 month "lag", so for 3 months you will see no interest and then at month 4 you will see the interest from month 1 appear for the first time.
SnowBog
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by SnowBog »

BrokerageZelda wrote: Mon Nov 22, 2021 12:36 pm
cnc449 wrote: Mon Nov 22, 2021 12:30 pm
acegolfer wrote: Thu Nov 11, 2021 10:46 am
tj wrote: Thu Nov 11, 2021 10:41 am I'm confused. The first 6 months earns 3.54% and the second 6 onths earns 7.12%. Disregarding 3 month penalty, will my $10k deposit earn $533 over 12 months or some other number?
In the 1st 6 months, you will earn 3.54%/2 * $10,000 = $177 interest.
In the 2nd 6 months, you will earn 7.12%/2 * $10,177 = $362.30 interest (interests are compounded semiannually)
In sum, you will earn $539.30 interest (disregarding penalty) in 12 months.

IOW, 5.3930% APY.
When will the interest appear in your TreasuryDirect account? At the end of 6 months?
The interest is added every month. The totals displayed on the TD website will account for the 3 month early redemption penalty by applying a 3 month "lag", so for 3 months you will see no interest and then at month 4 you will see the interest from month 1 appear for the first time.
And at 5 years, the "lag" is gone (no more interest penalty), so it will look like 4 months of interest landing instead of 1.
idoc2020
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by idoc2020 »

TreasuryDirect is truly a quirky website. While opening a new account for ibonds I made a "tiny" mistake entering a routing number. I then received a message from them saying that I could not continue until I filled out a form, took the form to my bank, had an "officer" certify the form etc. I found this to be rather extreme and sent them a message to that effect. A few days letter I received two messages from them: the first said that there's nothing to be done about it and I would have to go the bank with the form and have it certified and wait several weeks to try again. The second message was much sunnier and breezily advised me to simply ignore the first incorrect account and just establish a second account which I could duly fund. It concluded by saying that I could simply send them an email requesting the first account be closed. Two messages, completely different and on the same day. I went with the second message and it worked like a charm. The account was funded without any problem whatsoever and I sent them a request to shut down the first account.
Starfish
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Re: iBonds @ 7.12%

Post by Starfish »

Mel Lindauer wrote: Mon Nov 01, 2021 10:17 pm
Maybe it is not the worst deal, but it's not enough money to be worth a lot of thinking.
If the $10,000 per person's I Bond purchase limit isn't worthwhile for some folks, I have to ask if those same folks feel that one's annual contribution limit of $6,000 or $7,000 per person to a Traditional IRA or a Roth isn't worthwhile either?
10,000$ is far from negligible, but 350$ gross is not a lot of money.
6000$ to a tIRA is way less that it should be (just compare with 401k which is more reasonable). But at least are are talking about marginal tax rate X 6000$ which is usually significantly more.
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Mel Lindauer
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Re: iBonds @ 7.12%

Post by Mel Lindauer »

Starfish wrote: Sun Nov 28, 2021 12:20 am
Mel Lindauer wrote: Mon Nov 01, 2021 10:17 pm
Maybe it is not the worst deal, but it's not enough money to be worth a lot of thinking.
If the $10,000 per person's I Bond purchase limit isn't worthwhile for some folks, I have to ask if those same folks feel that one's annual contribution limit of $6,000 or $7,000 per person to a Traditional IRA or a Roth isn't worthwhile either?
10,000$ is far from negligible, but 350$ gross is not a lot of money.
6000$ to a tIRA is way less that it should be (just compare with 401k which is more reasonable). But at least are are talking about marginal tax rate X 6000$ which is usually significantly more.
But it still isn't $10k for hardly anyone.

I just hate to hear folks minimizing the I Bond 10K ($20k per couple) contribution limit while not mentioning the much lower IRA 6K or 12K (per couple) limit.
Best Regards - Mel | | Semper Fi
FlyingMoose
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by FlyingMoose »

Anyone who thinks the Treasury Direct site is difficult has never registered a copyright online. The copyright office site is vastly more convoluted and confusing. I was pleasantly surprised how easy it was to buy ibonds. I just bought 10k and I’ll buy another in January plus 5k of my tax refund. That will give me 25k which is half of my emergency fund.
OpenMinded1
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by OpenMinded1 »

ilan1h wrote: Sat Nov 27, 2021 1:57 pm TreasuryDirect is truly a quirky website. While opening a new account for ibonds I made a "tiny" mistake entering a routing number. I then received a message from them saying that I could not continue until I filled out a form, took the form to my bank, had an "officer" certify the form etc. I found this to be rather extreme and sent them a message to that effect. A few days letter I received two messages from them: the first said that there's nothing to be done about it and I would have to go the bank with the form and have it certified and wait several weeks to try again. The second message was much sunnier and breezily advised me to simply ignore the first incorrect account and just establish a second account which I could duly fund. It concluded by saying that I could simply send them an email requesting the first account be closed. Two messages, completely different and on the same day. I went with the second message and it worked like a charm. The account was funded without any problem whatsoever and I sent them a request to shut down the first account.
Just a heads up, I planned to buy additional I-bonds at Treasury Direct near the end of the month. However, I switched banks since the last time I purchased them. As a result of this switch, I had to complete a form and sign it in the presence of a bank officer, so he could do a medallion signature guaranty. (The instructions said a notarized signature was unacceptable.) I then had to mail the completed form to the Bureau of Fiscal Service in MN. Now I'm supposed to just wait until I get an email saying I can now buy the Bonds thru Treasury Direct using the bank where I currently have the funds. (I guess I could log into the site from time to time to see if my current bank account is now listed as an account I can draw from to purchase the Bonds.)
tj
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by tj »

OpenMinded1 wrote: Sun Nov 28, 2021 7:45 am
ilan1h wrote: Sat Nov 27, 2021 1:57 pm TreasuryDirect is truly a quirky website. While opening a new account for ibonds I made a "tiny" mistake entering a routing number. I then received a message from them saying that I could not continue until I filled out a form, took the form to my bank, had an "officer" certify the form etc. I found this to be rather extreme and sent them a message to that effect. A few days letter I received two messages from them: the first said that there's nothing to be done about it and I would have to go the bank with the form and have it certified and wait several weeks to try again. The second message was much sunnier and breezily advised me to simply ignore the first incorrect account and just establish a second account which I could duly fund. It concluded by saying that I could simply send them an email requesting the first account be closed. Two messages, completely different and on the same day. I went with the second message and it worked like a charm. The account was funded without any problem whatsoever and I sent them a request to shut down the first account.
Just a heads up, I planned to buy additional I-bonds at Treasury Direct near the end of the month. However, I switched banks since the last time I purchased them. As a result of this switch, I had to complete a form and sign it in the presence of a bank officer, so he could do a medallion signature guaranty. (The instructions said a notarized signature was unacceptable.) I then had to mail the completed form to the Bureau of Fiscal Service in MN. Now I'm supposed to just wait until I get an email saying I can now buy the Bonds thru Treasury Direct using the bank where I currently have the funds. (I guess I could log into the site from time to time to see if my current bank account is now listed as an account I can draw from to purchase the Bonds.)
Indeed. I am never closing the bank account that I have linked to TD.
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anon_investor
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by anon_investor »

tj wrote: Sun Nov 28, 2021 10:23 am
OpenMinded1 wrote: Sun Nov 28, 2021 7:45 am
ilan1h wrote: Sat Nov 27, 2021 1:57 pm TreasuryDirect is truly a quirky website. While opening a new account for ibonds I made a "tiny" mistake entering a routing number. I then received a message from them saying that I could not continue until I filled out a form, took the form to my bank, had an "officer" certify the form etc. I found this to be rather extreme and sent them a message to that effect. A few days letter I received two messages from them: the first said that there's nothing to be done about it and I would have to go the bank with the form and have it certified and wait several weeks to try again. The second message was much sunnier and breezily advised me to simply ignore the first incorrect account and just establish a second account which I could duly fund. It concluded by saying that I could simply send them an email requesting the first account be closed. Two messages, completely different and on the same day. I went with the second message and it worked like a charm. The account was funded without any problem whatsoever and I sent them a request to shut down the first account.
Just a heads up, I planned to buy additional I-bonds at Treasury Direct near the end of the month. However, I switched banks since the last time I purchased them. As a result of this switch, I had to complete a form and sign it in the presence of a bank officer, so he could do a medallion signature guaranty. (The instructions said a notarized signature was unacceptable.) I then had to mail the completed form to the Bureau of Fiscal Service in MN. Now I'm supposed to just wait until I get an email saying I can now buy the Bonds thru Treasury Direct using the bank where I currently have the funds. (I guess I could log into the site from time to time to see if my current bank account is now listed as an account I can draw from to purchase the Bonds.)
Indeed. I am never closing the bank account that I have linked to TD.
I am glad I added multiple bank accounts to our TD account when you could still do so online...
calvin111
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by calvin111 »

Please help...

1) I am still not clear how to buy bonds for the children...on TD website it says children cannot have their own account. So do I just go to my own account and add my children as the new registration with their SSN and Name etc ? And just buy the iBond in my account with their name in the dropdown ? And they will stay as gift in my account till they are >18 age and can have their own TD account and on that day I transfer these gifts to their own personal account ? Also, by doing this...they will not have their account # or login etc...

2) For some reasons, my spouse account cannot be opened. I need to send a signature form. www.treasurydirect.gov/pdf/rs/acctauth.pdf
I am thinking if I can buy 10K worth of bonds for her in my account and then gift/transfer it to her when her account issue is resolved ? Let me know if this would be possible and make sense.

3) So this way I am buying 40K worth of iBonds in my account and will transfer these iBonds to the spouse and 2 children's account in future. Is that going to be OK ?

Image

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Thanks in Advance
SnowBog
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by SnowBog »

calvin111 wrote: Mon Nov 29, 2021 4:11 pm Please help...

1) I am still not clear how to buy bonds for the children...on TD website it says children cannot have their own account. So do I just go to my own account and add my children as the new registration with their SSN and Name etc ? And just buy the iBond in my account with their name in the dropdown ? And they will stay as gift in my account till they are >18 age and can have their own TD account and on that day I transfer these gifts to their own personal account ? Also, by doing this...they will not have their account # or login etc...

2) For some reasons, my spouse account cannot be opened. I need to send a signature form. www.treasurydirect.gov/pdf/rs/acctauth.pdf
I am thinking if I can buy 10K worth of bonds for her in my account and then gift/transfer it to her when her account issue is resolved ? Let me know if this would be possible and make sense.

3) So this way I am buying 40K worth of iBonds in my account and will transfer these iBonds to the spouse and 2 children's account in future. Is that going to be OK ?

Thanks in Advance
You are going to the wrong spot...

A minor can't have their own account - not directly... It would be a "linked" account - tied to a parent. (When they are 18+ they can create their own account.)

To setup the account:
  • Log into TreasuryDirect
  • Go to "ManageDirect"
  • Under "Manage My Linked Accounts" - select "Establish a Minor Linked Account"
Follow the instructions from there...

This will let you create a linked account (or accounts if you have more than one child) - at which point you can purchase bonds in "their" accounts (which are linked to you).

Alternatively, you could purchase as a "gift" - and "deliver" to them - but they'd need an account setup before they'd receive it anyway...
Count If
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by Count If »

anon_investor wrote: Sun Nov 28, 2021 10:32 am
tj wrote: Sun Nov 28, 2021 10:23 am
OpenMinded1 wrote: Sun Nov 28, 2021 7:45 am
ilan1h wrote: Sat Nov 27, 2021 1:57 pm TreasuryDirect is truly a quirky website. While opening a new account for ibonds I made a "tiny" mistake entering a routing number. I then received a message from them saying that I could not continue until I filled out a form, took the form to my bank, had an "officer" certify the form etc. I found this to be rather extreme and sent them a message to that effect. A few days letter I received two messages from them: the first said that there's nothing to be done about it and I would have to go the bank with the form and have it certified and wait several weeks to try again. The second message was much sunnier and breezily advised me to simply ignore the first incorrect account and just establish a second account which I could duly fund. It concluded by saying that I could simply send them an email requesting the first account be closed. Two messages, completely different and on the same day. I went with the second message and it worked like a charm. The account was funded without any problem whatsoever and I sent them a request to shut down the first account.
Just a heads up, I planned to buy additional I-bonds at Treasury Direct near the end of the month. However, I switched banks since the last time I purchased them. As a result of this switch, I had to complete a form and sign it in the presence of a bank officer, so he could do a medallion signature guaranty. (The instructions said a notarized signature was unacceptable.) I then had to mail the completed form to the Bureau of Fiscal Service in MN. Now I'm supposed to just wait until I get an email saying I can now buy the Bonds thru Treasury Direct using the bank where I currently have the funds. (I guess I could log into the site from time to time to see if my current bank account is now listed as an account I can draw from to purchase the Bonds.)
Indeed. I am never closing the bank account that I have linked to TD.
I am glad I added multiple bank accounts to our TD account when you could still do so online...
I got a similar 'complete this form' notice when I created an acct. Sunday and attempted to register the bank info using the 'ManageDirect' tab. Almost gave up, but then tried using the 'BuyDirect' tab (right next to the 'MyAccount' tab); was then able to complete the I-bond purchase online with no problem. My entered acct. appeared on a dropdown box and it went right through. Used different checking accts. for three registrations in late Oct. and this Sun (myself, DW and a trust). Very happy to have read these forums with all the I-bond details and the great interest rates.
acegolfer
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by acegolfer »

calvin111 wrote: Mon Nov 29, 2021 4:11 pm Please help...

1) I am still not clear how to buy bonds for the children...on TD website it says children cannot have their own account. So do I just go to my own account and add my children as the new registration with their SSN and Name etc ? And just buy the iBond in my account with their name in the dropdown ? And they will stay as gift in my account till they are >18 age and can have their own TD account and on that day I transfer these gifts to their own personal account ? Also, by doing this...they will not have their account # or login etc...
Here's the correct step by step: https://www.treasurydirect.gov/indiv/he ... #openminor
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dougger5
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by dougger5 »

Gadzooks! Just saw a segment on CNBC about I Bonds! Becky Quick had John Lim, whose article on Clement's humbledoller.com was what gave me the final push to make a purchase.

Lol, after the segment Andrew Ross Sorkin was like :shock:
"I've been ionized, but I'm okay now." -Buckaroo Banzai
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HueyLD
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by HueyLD »

Tone down the excitement a bit please.

If one looks back the composite rate history for the past several years, I bonds were earning ZERO for an extended period of time.

However, due to annual purchase limits (use or lose), it is a reasonable vehicle for part of your fixed income and emergency fund portfolios.

Many thanks to Mel Lindauer’s unwavering advocacy of I bonds thru the thick and thin years.
protagonist
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by protagonist »

According to the NYT, 12-month inflation is at its highest point in 31 years. Food ~ 18%. Gas ~ 75%. Housing and auto prices through the roof.

I-bonds are the only safe investment guaranteed to keep up with inflation. Bank accounts and CDs are rapidly losing value, and I would suspect that bonds are not doing all that well either, though I have not checked the bond market (lack of interest on my part).
Dusn
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by Dusn »

Food has gone up 18%??? You all need to shop at Aldi’s or maybe it’s because we’re vegetarian. I have not seen that kind of increase.
Bronco Billy
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by Bronco Billy »

How do you set up a benificary on theTD website??

Thanks for any help with this.
SnowBog
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by SnowBog »

Bronco Billy wrote: Tue Nov 30, 2021 12:24 pm How do you set up a benificary on theTD website??

Thanks for any help with this.
You don't. The closest is setting them up as a "co-owner" (really more like beneficiary) on the registration(s) for the bonds.

For example, mine are setup as "SnowBog WITH SnowBog's Spouse", and spouses are setup as "SnowBog's spouse WITH SnowBog".

Optionally, you can grant "transact" rights on the bond(s), giving the co-owner "view" or "sell" rights on the bonds. This way they can see - and if allowed sell - the co-owned bonds from within their account (but in a separate location from their own bonds).
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by BrokerageZelda »

Bronco Billy wrote: Tue Nov 30, 2021 12:24 pm How do you set up a benificary on theTD website??

Thanks for any help with this.
TreasuryDirect has a "How Do I?" page with step-by-step instructions for many common (and not-so-common) situations.

For beneficiaries in particular:
https://www.treasurydirect.gov/indiv/he ... dsecondary

You will have to create a "Registration" with yourself as Primary and someone else as Beneficiary, and then apply that Registration to each bond, either at creation or through the Edit menu on each individual bond in your account.
Bronco Billy
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by Bronco Billy »

BrokerageZelda wrote: Tue Nov 30, 2021 12:32 pm
Bronco Billy wrote: Tue Nov 30, 2021 12:24 pm How do you set up a benificary on theTD website??

Thanks for any help with this.
TreasuryDirect has a "How Do I?" page with step-by-step instructions for many common (and not-so-common) situations.

For beneficiaries in particular:
https://www.treasurydirect.gov/indiv/he ... dsecondary

You will have to create a "Registration" with yourself as Primary and someone else as Beneficiary, and then apply that Registration to each bond, either at creation or through the Edit menu on each individual bond in your account.
I found the how do i page but I just now funded my account but wont get the money for a day or so. I guess i need the bond FIRST before adding a co-owner?

Thanks for the help... BB
SnowBog
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by SnowBog »

Bronco Billy wrote: Tue Nov 30, 2021 12:39 pm
BrokerageZelda wrote: Tue Nov 30, 2021 12:32 pm
Bronco Billy wrote: Tue Nov 30, 2021 12:24 pm How do you set up a benificary on theTD website??

Thanks for any help with this.
TreasuryDirect has a "How Do I?" page with step-by-step instructions for many common (and not-so-common) situations.

For beneficiaries in particular:
https://www.treasurydirect.gov/indiv/he ... dsecondary

You will have to create a "Registration" with yourself as Primary and someone else as Beneficiary, and then apply that Registration to each bond, either at creation or through the Edit menu on each individual bond in your account.
I found the how do i page but I just now funded my account but wont get the money for a day or so. I guess i need the bond FIRST before adding a co-owner?

Thanks for the help... BB
Nope. It's easier to set up the "registration" with the co-owner first. Then just use that registration for buying bonds in the future.
Bronco Billy
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by Bronco Billy »

SnowBog wrote: Tue Nov 30, 2021 12:42 pm
Nope. It's easier to set up the "registration" with the co-owner first. Then just use that registration for buying bonds in the future.
I guess i am getting older and slower but i never noticed where i could setup a co owner when i built my account. I still need to build account for wife but she not here right now. I will need to pay a little more attention.
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by FactualFran »

HueyLD wrote: Tue Nov 30, 2021 6:30 am If one looks back the composite rate history for the past several years, I bonds were earning ZERO for an extended period of time.
Looking at the entire history of the composite rate of I bonds, there have been only two six-month earnings periods when the composite rate was zero: 1) for some I bonds when the composite rate used the inflation rate announced May 2015, and 2) for all I bonds when the composite rate used the inflation rate for I bonds that was announced May 2009.
Da5id
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by Da5id »

FactualFran wrote: Tue Nov 30, 2021 2:29 pm
HueyLD wrote: Tue Nov 30, 2021 6:30 am If one looks back the composite rate history for the past several years, I bonds were earning ZERO for an extended period of time.
Looking at the entire history of the composite rate of I bonds, there have been only two six-month earnings periods when the composite rate was zero: 1) for some I bonds when the composite rate used the inflation rate announced May 2015, and 2) for all I bonds when the composite rate used the inflation rate for I bonds that was announced May 2009.
Perhaps he meant real return? I buy my quota of I-bonds, but perhaps the 7.12% annualized composite yield has made them a bit overhyped these days.
dbr
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by dbr »

Da5id wrote: Tue Nov 30, 2021 3:30 pm
FactualFran wrote: Tue Nov 30, 2021 2:29 pm
HueyLD wrote: Tue Nov 30, 2021 6:30 am If one looks back the composite rate history for the past several years, I bonds were earning ZERO for an extended period of time.
Looking at the entire history of the composite rate of I bonds, there have been only two six-month earnings periods when the composite rate was zero: 1) for some I bonds when the composite rate used the inflation rate announced May 2015, and 2) for all I bonds when the composite rate used the inflation rate for I bonds that was announced May 2009.
Perhaps he meant real return? I buy my quota of I-bonds, but perhaps the 7.12% annualized composite yield has made them a bit overhyped these days.
I think it might be true that the real rate has been zero or nearly zero a significant fraction of the time. Real rates were higher years ago but not now. I agree we are in a period of fad regarding I bonds due to an anomalous level of inflation.
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by SnowBog »

Bronco Billy wrote: Tue Nov 30, 2021 12:49 pm
SnowBog wrote: Tue Nov 30, 2021 12:42 pm
Nope. It's easier to set up the "registration" with the co-owner first. Then just use that registration for buying bonds in the future.
I guess i am getting older and slower but i never noticed where i could setup a co owner when i built my account. I still need to build account for wife but she not here right now. I will need to pay a little more attention.
It's not part of the "account" as such... It's the "registration", where you can create a registration that includes the co-owner, set it as your preferred registration, then use that going forward. https://www.treasurydirect.gov/indiv/he ... egList.htm
Bronco Billy
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by Bronco Billy »

SnowBog wrote: Tue Nov 30, 2021 4:06 pm
It's not part of the "account" as such... It's the "registration", where you can create a registration that includes the co-owner, set it as your preferred registration, then use that going forward. https://www.treasurydirect.gov/indiv/he ... egList.htm
I saw what you are talking about. I have built the my account and now have a registration for me and my wife.

The money has not made it to TD yet. Should i now delete the registration for just myself or wait until I get the 10k bond? Then everything i bought going forward will be for me and my wife?

Do I need to build another account for my wife or can i add registration with my wife name first and then me being the co owner?

Sorry for not understanding it but really appricate your help Snowbog
SnowBog
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by SnowBog »

Bronco Billy wrote: Tue Nov 30, 2021 7:08 pm
SnowBog wrote: Tue Nov 30, 2021 4:06 pm
It's not part of the "account" as such... It's the "registration", where you can create a registration that includes the co-owner, set it as your preferred registration, then use that going forward. https://www.treasurydirect.gov/indiv/he ... egList.htm
I saw what you are talking about. I have built the my account and now have a registration for me and my wife.

The money has not made it to TD yet. Should i now delete the registration for just myself or wait until I get the 10k bond? Then everything i bought going forward will be for me and my wife?

Do I need to build another account for my wife or can i add registration with my wife name first and then me being the co owner?

Sorry for not understanding it but really appricate your help Snowbog
If it were me, I'd delete the one in your name and ensure the joint registration is the "preferred". That way you don't accidentally select the wrong one sometime in the future.

Ultimately, your spouse will need their own account. You can't buy bonds for someone else in your account (aka no way to reverse the registration).

Although you can buy as a "gift" for someone else from your account (gift box). They'll stay in your account until you "deliver" them to the recipient - but they'll need an account created to receive the bond(s). So you can purchase (as a gift) in your account while you get spouses account setup (or just wait and buy directly from spouses account - which is what I'd recommend).

Note, you can use the same "bank account" linked to multiple TD accounts.
I use a joint "hub" account - which is what's linked to my individual, my trust, spouses individual, and spouses trust TD accounts (same bank account linked to all 4 TD accounts). You just need the unique TD account setup for spouse.
Bronco Billy
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by Bronco Billy »

SnowBog wrote: Tue Nov 30, 2021 7:21 pm
If it were me, I'd delete the one in your name and ensure the joint registration is the "preferred". That way you don't accidentally select the wrong one sometime in the future.

Ultimately, your spouse will need their own account. You can't buy bonds for someone else in your account (aka no way to reverse the registration).

Although you can buy as a "gift" for someone else from your account (gift box). They'll stay in your account until you "deliver" them to the recipient - but they'll need an account created to receive the bond(s). So you can purchase (as a gift) in your account while you get spouses account setup (or just wait and buy directly from spouses account - which is what I'd recommend).

Note, you can use the same "bank account" linked to multiple TD accounts.
I use a joint "hub" account - which is what's linked to my individual, my trust, spouses individual, and spouses trust TD accounts (same bank account linked to all 4 TD accounts). You just need the unique TD account setup for spouse.
******************* THANK YOU FOR ALL YOUR HELP SNOWBOG **********
burbank
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Re: iBonds @ 7.12%

Post by burbank »

Mel Lindauer wrote: Sun Nov 28, 2021 12:53 am I just hate to hear folks minimizing the I Bond 10K ($20k per couple) contribution limit while not mentioning the much lower IRA 6K or 12K (per couple) limit.
I like I-Bonds, but I think the big difference is that an IRA is one consolidated account that most people can maintain where they already have a taxable brokerage account. They can contribute yearly into that one pot and watch one value grow over decades as opposed to buying numerous I-bonds, each with a separate value and maturity.

They may also contribute to a 401K with higher limits and roll it into an IRA later, viewing that as their primary retirement savings versus thinking of the I-Bonds as optional and extra work where they are more likely to weigh the hassle against the contribution limit.
Da5id
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Re: iBonds @ 7.12%

Post by Da5id »

burbank wrote: Wed Dec 01, 2021 9:13 am
Mel Lindauer wrote: Sun Nov 28, 2021 12:53 am I just hate to hear folks minimizing the I Bond 10K ($20k per couple) contribution limit while not mentioning the much lower IRA 6K or 12K (per couple) limit.
I like I-Bonds, but I think the big difference is that an IRA is one consolidated account that most people can maintain where they already have a taxable brokerage account. They can contribute yearly into that one pot and watch one value grow over decades as opposed to buying numerous I-bonds, each with a separate value and maturity.

They may also contribute to a 401K with higher limits and roll it into an IRA later, viewing that as their primary retirement savings versus thinking of the I-Bonds as optional and extra work where they are more likely to weigh the hassle against the contribution limit.
You appear to still be implying that the contribution limit is an issue. I don't get that point of view. During accumulation, the I-bond limit is of a similar order of magnitude to other things we think are useful, e.g. Roths, HSAs, IRAs, 401ks, etc.

There are places where the contribution limit of I-bonds is a factor. Those include using I-bonds to rebalance. You can't rebalance into them very well due to the purchase limits, and rebalancing out can leave a hole that takes a long time to replenish. Mind you I prefer to not rebalance in "taxable", so that isn't a huge deal for me personally. I say "taxable" because I-bonds are in my tax deferred bucket in a sense, but not for the purposes of rebalancing. Additionally, if you haven't been accumulating I-bonds and have substantial assets relative to the limit, moving into I-bonds can seem very slow.
Bronco Billy
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by Bronco Billy »

SnowBog wrote: Tue Nov 30, 2021 7:21 pm
If it were me, I'd delete the one in your name and ensure the joint registration is the "preferred". That way you don't accidentally select the wrong one sometime in the future.

Ultimately, your spouse will need their own account. You can't buy bonds for someone else in your account (aka no way to reverse the registration).

Although you can buy as a "gift" for someone else from your account (gift box). They'll stay in your account until you "deliver" them to the recipient - but they'll need an account created to receive the bond(s). So you can purchase (as a gift) in your account while you get spouses account setup (or just wait and buy directly from spouses account - which is what I'd recommend).

Note, you can use the same "bank account" linked to multiple TD accounts.
I use a joint "hub" account - which is what's linked to my individual, my trust, spouses individual, and spouses trust TD accounts (same bank account linked to all 4 TD accounts). You just need the unique TD account setup for spouse.
I went to delete the registration in my name only and got this message...

The following error(s) have occurred:
You cannot delete the original registration created when your TreasuryDirect account was opened.


I got my bond and did go and change the registration to me and my wifes registration and set my Preferred Registration.
burbank
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Re: iBonds @ 7.12%

Post by burbank »

Da5id wrote: Wed Dec 01, 2021 10:52 am You appear to still be implying that the contribution limit is an issue.
I don't need to imply that.  It's clearly an issue for some members of this forum.  Maybe they're outside of the accumulation phase.  Maybe they think the pros and cons are just more favorable for the more tax-advantaged examples you mentioned.

For what it's worth, I think some people do complain about the contribution limits for IRAs too.  I was just offering a theory as to why the limits might discourage people from choosing I-Bonds more than they discourage people from contributing to an IRA.
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