Yes, higher prices are a drag but why are you leaving your savings in 0.05% (or less) savings accounts? Inflation-adjusted U.S. Savings Bonds are the best way to beat inflation. Currently these bonds are paying 7.12% (through April 30); the rate will escalate to 9.6% May 1. Generally one is limited to buying a maximum…
Category: I-bonds
Dealing with Inflation’s effect on savings
The consumer-price index jumped 7.5% in January compared to a year earlier, its steepest rise since February 1982, the Labor Department reported. The core price index, which excludes energy and food prices, rose 6% year over year, also marking a nearly 40-year high. Savings accounts are paying far less than 1%. It’s time to check…
Inflation adjusted US government bonds paying 7.12%
With interest rates on savings ate rock bottom low, check out U.S. Government I-bonds. NEWS: The initial interest rate on new Series I savings bonds is the second-highest ever: 7.12 percent. You can buy I bonds at that rate through April 2022. Details at: https://www.treasurydirect.gov/indiv/products/prod_ibonds_glance.htm Be sure you understand how I-bonds work. You can’t access…
U.S. Government I Bonds (inflation protected) are the best savings option you probably have never heard about
“In today’s yield-parched world, money-market funds are paying 0.02%, bank savings accounts 0.13%, a three-month Treasury bill 0.015% and even a 30-year Treasury bond only 2.25%.” Wall Street Journal writer Jason Zweig reminds us of one of the best kept secrets for savers; I-Bonds. These savings instruments are inflation-protected U.S. savings bonds that are currently…