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Message

re: Series I bond Rate is PREDICTED to be 9.62 for May

Posted on 4/27/22 at 1:29 pm to
Posted by TheBoo
South to Louisiana
Member since Aug 2012
4501 posts
Posted on 4/27/22 at 1:29 pm to
quote:

Would it make sense to do a 10k gift in my wife’s account and transfer that to mine whenever they actually open it up?

That's what I just did because there's a hold on my wife's account and I want to get this in before May 1. 10k for me, and a 10k gift for her while waiting for the hold to be resolved.
Posted by Bryant91092
Member since Dec 2009
24489 posts
Posted on 4/27/22 at 6:13 pm to
Posted by ynlvr
Rocket City
Member since Feb 2009
4587 posts
Posted on 4/27/22 at 7:32 pm to
quote:

I just added the bank account routing numbers and account numbers.

That’s all I want to do. I took a wrong turn on the Treasury Direct Highway and now I’m in limbo. I thought I was following along correctly and printed out documents, went to my bank to get “medallion” certification per instruction, and now I’m in limbo for “up to 8 weeks”.
Posted by Bryant91092
Member since Dec 2009
24489 posts
Posted on 4/27/22 at 9:39 pm to
I think for whatever reason, some accounts get flagged for additional information. That’s where my account currently is while my wife’s account was immediately approved in seconds.
Posted by cusoonkpd
Big Mamou
Member since Apr 2015
1582 posts
Posted on 4/28/22 at 6:53 am to
Wife and I had no problems setting up our accounts. Was able to easily place the full amount for this year plus gift each other another $10,000 each to be delivered next January. Beats the heck out of any savings account or money market out there.

Posted by TheBoo
South to Louisiana
Member since Aug 2012
4501 posts
Posted on 4/28/22 at 11:34 am to
Nevermind. I'm blind.
This post was edited on 4/28/22 at 11:40 am
Posted by Teddy Ruxpin
Member since Oct 2006
39578 posts
Posted on 5/2/22 at 10:36 am to
Rate is official.
Posted by Asharad
Tiamat
Member since Dec 2010
5693 posts
Posted on 5/2/22 at 11:48 am to
I placed an order Saturday, transaction completed today at the May rate.
Posted by thelawnwranglers
Member since Sep 2007
38775 posts
Posted on 5/2/22 at 11:55 am to
quote:


I placed an order Saturday, transaction completed today at the May rate.


Ashame it didn't catch last rate

As I understand it you 6 months of rate then new rate
Posted by prestigeworldwide
Member since May 2018
295 posts
Posted on 5/2/22 at 2:02 pm to
Wife and I bought ours Friday afternoon but it didn't process until today so we get the May rate. Hope the NOV rate is good.
Posted by Tiger Attorney
New Orleans
Member since Oct 2007
19663 posts
Posted on 5/2/22 at 4:20 pm to
We put 40k in total with gifts.

As I understand it, we each can pay 5k to the Treasury and purchase 5k more each using that money? This doesn't make sense to me?
Posted by slackster
Houston
Member since Mar 2009
84856 posts
Posted on 5/2/22 at 4:34 pm to
quote:

As I understand it, we each can pay 5k to the Treasury and purchase 5k more each using that money? This doesn't make sense to me?


What’s causing your confusion?
Posted by thelawnwranglers
Member since Sep 2007
38775 posts
Posted on 5/2/22 at 5:30 pm to
quote:

Hope the NOV rate is good.


I would think it has to be
Posted by Tiger Attorney
New Orleans
Member since Oct 2007
19663 posts
Posted on 5/2/22 at 6:06 pm to
I guess mostly why? Why not just let people just buy 15k worth?

Secondly, how does one pay from your treasury account to treasure direct?
Posted by slackster
Houston
Member since Mar 2009
84856 posts
Posted on 5/2/22 at 6:37 pm to
quote:

I guess mostly why? Why not just let people just buy 15k worth?


That’s a great point.

quote:

Secondly, how does one pay from your treasury account to treasure direct?


I believe there is a form you turn in with your tax return to purchase the paper I-bonds. I don’t believe it can be done any other way.
Posted by Tiger Attorney
New Orleans
Member since Oct 2007
19663 posts
Posted on 5/2/22 at 6:46 pm to
Typical government bullshite.

Ok...so when I file in October I can lock in May/November rates
Posted by slackster
Houston
Member since Mar 2009
84856 posts
Posted on 5/2/22 at 7:57 pm to
I don’t know exactly how it works on your return, but I believe it’s been answered in this thread.
Posted by thelawnwranglers
Member since Sep 2007
38775 posts
Posted on 5/3/22 at 7:52 am to
quote:


I don’t know exactly how it works on your return, but I believe it’s been answered in this thread.


Yeah turbo tax didn't ask if I wanted ibonds

Supposedly those are paper bonds

Unrelated I guess you don't get 1099 int until cash/maturity? I think my dad on some claims interest yearly but no way IRS can keep that straight
Posted by LSU2346
Baton Rouge
Member since Nov 2018
35 posts
Posted on 5/3/22 at 9:51 pm to
Do y’all think it would be smart to borrow 10K from my 401k and put it into this? Trying to find a way to get the max value
Posted by thelawnwranglers
Member since Sep 2007
38775 posts
Posted on 5/3/22 at 10:16 pm to
quote:


Do y’all think it would be smart to borrow 10K from my 401k and put it into this? Trying to find a way to get the max value


Would debt payments stop you from maxing 401k ($20k)?

Risk ibonds locked for year if you left job would need to pay back loan or pay penalty
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