It seems like it's a no brainer to buy I Bonds right now, yea? If I buy $10,000 worth, I'm guaranteed 9.6% interest which is $960 this year. I don't need this money liquid and it crushes high interest savings account and with the volatile market, is probably hard to beat. Is this right?
I'm confused on how long I can hold this bond, though. Google says 30 years so does that mean I would just get $962/year in interested all paid out when I cash in the bond? Or does it compound at all? After the first year, would my bond now be worth $10,962 and the following year I'm still getting 9.6% on THAT amount? That seems way too good to be true.
What am I missing?
Submitted June 20, 2022 at 09:23PM by Itsallkosher1 https://ift.tt/7X2Lqol
