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re: 4 week Tbills went off at 5.96% this week
Posted on 5/11/23 at 7:48 am to I B Freeman
Posted on 5/11/23 at 7:48 am to I B Freeman
Never had done this before but it looked fairly simple. set up an account yesterday on treasury direct, bought $5000 tbills 4 week and set to reinvest 13 times.
so that $5000 at the end of a year when it's put back into my account would have returned 5.96%?
so that $5000 at the end of a year when it's put back into my account would have returned 5.96%?
2
Posted on 5/11/23 at 7:59 am to coonasstiger
quote:
so that $5000 at the end of a year when it's put back into my account would have returned 5.96%?
no, that rate is only locked in for the first four weeks. Not for the reinvestments.
also, another point of clarification is 5.96% was last weeks auction rate. I don't know if this week will go up or down, but you are not going to get 5.96% exactly.
This post was edited on 5/11/23 at 8:06 am
Posted on 5/12/23 at 8:47 am to coonasstiger
quote:
set up an account yesterday on treasury direct
Fyi, you can do this at Fidelity or any of the major brokerage including auto-roll. You only need a treasury direct account for I/EE bonds. Also buying on the brokerages, allows you to sell it before maturity if the need arises. Can't do that at treasury direct.
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