I-bonds paying 7.12%

[IGBT]

The government is telling you there is no concern about inflation yet I-bonds are paying 7.12% right now heh heh.

It isn't a bad place to park some cash if you are saving up for something, heck of a lot better than a bank account rate.

You can set up a online account at treasurydirect.gov (it is a US government site).

I am not sure even 7.12% is going to keep up with the price increases I am seeing in cars, food, building materials

 

[beavergod1]

That rate is only good for 6 months and then resets every May and Nov depending on inflation readings at that time.  That return will vary.  Also limited to $10,000 per individual...

 

[Spaceman Spiff]

7.12% isn't even close.

October 2020 vs. October 2021 cost comparison:
(I was in the Black Hills both years).

• Food - $208 vs. $256 = up 19%
• Gas/gallon - $2.10 vs. $3.25 = up 35%

 

[IGBT]

Agreed, it sucks but my bank is only paying 0.2%

 

[beavergod1]

Also if redeemed before 5 years, you will lose 3 months of interest for that year as a penalty.  After 5 years you are allowed to keep all interest accrued...