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re: Pros/Cons of I-Bonds
Posted on 10/1/22 at 8:30 pm to NATidefan
Posted on 10/1/22 at 8:30 pm to NATidefan
How does it work on delivering the gift. I understand the person getting the gift will not be able to invest that year if the gift is 10,000 But they won’t automatically place the gift if they don’t invest will they?
Posted on 10/2/22 at 4:55 pm to Kipsgto
Gifting..
Step 1. you buy $10k for yourself for 2022. This is your limit for 2022.
Step 2. Your wife buys $10k in 2022 as a gift for you, delivered to you in 2023. This goes against your 2023 limit
Step 3. Your wife buys $10k in 2022 as a gift for you, delivered to you in 2024. This goes against your 2024 limit.
Summary, you now have 30k in bonds earning interest. Now do this again, but for your wife.
You can gift 5 years into the future, this means you can buy 50k for yourself today. And 50k for your wife today. And 50k for your son today. Totaling 150k bought in 2022.
Step 1. you buy $10k for yourself for 2022. This is your limit for 2022.
Step 2. Your wife buys $10k in 2022 as a gift for you, delivered to you in 2023. This goes against your 2023 limit
Step 3. Your wife buys $10k in 2022 as a gift for you, delivered to you in 2024. This goes against your 2024 limit.
Summary, you now have 30k in bonds earning interest. Now do this again, but for your wife.
You can gift 5 years into the future, this means you can buy 50k for yourself today. And 50k for your wife today. And 50k for your son today. Totaling 150k bought in 2022.
This post was edited on 10/2/22 at 5:03 pm
Posted on 10/2/22 at 5:59 pm to Asharad
You can gift 5 years into the future? Who is the bond owner listed with the US Treasury Direct at the moment of acquisition? John Doe 2023 gift, John Doe 2024 gift, John Doe 2025 gift???
What SS# is the buy listed under?
What SS# is the buy listed under?
Posted on 10/2/22 at 7:16 pm to PUB
quote:
You can gift 5 years into the future? Who is the bond owner listed with the US Treasury Direct at the moment of acquisition? John Doe 2023 gift, John Doe 2024 gift, John Doe 2025 gift???
What SS# is the buy listed under?
There is no limit for gifts. You could buy 100k in gifts today for someone, which would mean it would take 10 years to deliver the gifts to that person.
When you buy a gift I bond, you have to specify the person's name and their SSN. Once a gift I bond is purchased, it is irrevocable and no longer legally yours. You can't cancel the I bond and get the money back; only the giftee can access it (once delivered).
This post was edited on 10/2/22 at 7:18 pm
Posted on 10/2/22 at 7:35 pm to gpburdell
Anyone have a good estimate of what the next 6 months rate is?
One I found said 7.6%. This seem accurate?
One I found said 7.6%. This seem accurate?
Posted on 10/3/22 at 12:41 am to Stateguy
tipwswatch.com is the best site for this type of info. The author wrote this article in mid Sept:
https://tipswatch.com/2022/09/13/u-s-inflation-rose-0-1-in-august-what-it-means-for-tips-i-bonds-and-social-security-cola/
https://tipswatch.com/2022/09/13/u-s-inflation-rose-0-1-in-august-what-it-means-for-tips-i-bonds-and-social-security-cola/
quote:
For I Bonds. The August report is the fifth in a six-month series that will set the I Bond’s new variable rate, which will begin rolling out November 1 for all I Bonds. As of August, inflation has run at a rate of 3.01%, which would translate to an I Bond variable rate of 6.02%, lower than the current rate of 9.62%. However, one month remains. Oil prices seem to have stabilized this month, so it’s possible we will see a higher number
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