Is Treasury Direct worth the hassle?

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jimmy2017
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Is Treasury Direct worth the hassle?

Post by jimmy2017 » Fri Aug 24, 2018 1:21 pm

Hello, I have everything within Vanguard (taxable, 401K, IRA) and Barclays (high-yield savings 1.85% apy).
Is it worth the hassle of opening up a Treasury Direct account to invest in iBonds? I'm curious if the slightly higher interest rates are worth the hassle of opening & managing a third account. Thoughts? Thank you!

Darth Xanadu
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Re: Is Treasury Direct worth the hassle?

Post by Darth Xanadu » Fri Aug 24, 2018 1:29 pm

I opened a TD account to buy Series I Bonds, and I haven't found it to be a hassle at all. So I think the question to ask yourself is, do you really want to buy I Bonds? If yes, then open the TD account. It's really not this big scary thing people make it out to be.
"A courageous teacher, failure is."

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damjam
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Re: Is Treasury Direct worth the hassle?

Post by damjam » Fri Aug 24, 2018 1:30 pm

I've never found having a TD account to be a hassle.
I think some BH members have had problems, but my experience has been good.
The only real annoyance, that I quickly got over, is that you can't have joint accounts. The titling of the bonds took a little getting used to, but I was able to accomplish what I set out to do.

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DanMahowny
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Re: Is Treasury Direct worth the hassle?

Post by DanMahowny » Fri Aug 24, 2018 1:46 pm

Every week, I buy t-bills, 4wk, 13wk, 26wk, 52wk.

Never a problem. Never a hassle. So far.
Funding secured

Big Dog
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Re: Is Treasury Direct worth the hassle?

Post by Big Dog » Fri Aug 24, 2018 1:51 pm

not worth it to me, more from a standpoint of death. I can see off in the distant future when I am gone and the kids/heirs have no idea how to get the few thousand out of the fed account.

OTOH, much easier if 100% of everything is in Vanguard. One call. Automatic basis adjustments. No fuss, no muss.

(This ignores the non-user friendly website.)

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FIREchief
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Re: Is Treasury Direct worth the hassle?

Post by FIREchief » Fri Aug 24, 2018 2:00 pm

Big Dog wrote:
Fri Aug 24, 2018 1:51 pm
not worth it to me, more from a standpoint of death. I can see off in the distant future when I am gone and the kids/heirs have no idea how to get the few thousand out of the fed account.

OTOH, much easier if 100% of everything is in Vanguard. One call. Automatic basis adjustments. No fuss, no muss.

(This ignores the non-user friendly website.)
+1. (except, with Fidelity the same is all true plus you get a user-friendly website :sharebeer )
I am not a lawyer, accountant or financial advisor. Any advice or suggestions that I may provide shall be considered for entertainment purposes only.

moehoward
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Re: Is Treasury Direct worth the hassle?

Post by moehoward » Fri Aug 24, 2018 2:05 pm

DanMahowny wrote:
Fri Aug 24, 2018 1:46 pm
Every week, I buy t-bills, 4wk, 13wk, 26wk, 52wk.

Never a problem. Never a hassle. So far.
I agree with this post, I've been using TD for years also.

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John151
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Re: Is Treasury Direct worth the hassle?

Post by John151 » Fri Aug 24, 2018 2:14 pm

I’ve had a TD account for fifteen years, and I’ve never had a problem with it. The maximum purchase for I Bonds is $10,000 a year per social security number, and I’d invest more than that if I could.

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Tyrobi
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Re: Is Treasury Direct worth the hassle?

Post by Tyrobi » Fri Aug 24, 2018 2:17 pm

I'm using I-bond as our emergency fund to earn a better rate, $10k for me and $10k for my spouse annually. Once I develop an efficient way to deal with TD, I don't find TD to be a hassle at all.

If you don't find your own simple way to deal with TD then it can be a hassle. In this case, it's not worth it to keep an account with TD.
Three-fund portfolio | "Simplicity is the master key to financial success." John C. Bogle

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HueyLD
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Re: Is Treasury Direct worth the hassle?

Post by HueyLD » Fri Aug 24, 2018 2:22 pm

What is an efficient way to deal with TD? Can you share your tips?

SpaethCo
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Re: Is Treasury Direct worth the hassle?

Post by SpaethCo » Fri Aug 24, 2018 2:23 pm

Posts like these concern me: viewtopic.php?t=220965

.. but there's no other way to buy I-bonds, so I suck it up and deal with it for that. I'm not sure I understand their logic for what actions require a Medallion Signature Guarantee. The last time I added an online credit union to my TreasuryDirect account I had to mail in a form with a MSG stamp, which was really fun to try and get a local bank to issue that. ("So you want me to guarantee that this other bank is your bank?" was the question that the guy at WellsFargo kept asking me, before I eventually gave up and drove to a different branch. It was not a great day.)

For treasuries, I feel like there are only downsides to TD. Fidelity sells new issues at 0 commission, offers the same auto-roll function, allows me to easily sell (or buy) on the secondary market with a couple clicks should the need arise, and by all accounts will be far easier for my survivors to work with in the unfortunate event I am no longer around.

caffeperfavore
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Re: Is Treasury Direct worth the hassle?

Post by caffeperfavore » Fri Aug 24, 2018 2:27 pm

Ditto. It's no more hassle than opening up an online account with anything anywhere else. I've found it easy to use and I get my money relatively quickly when I sell.

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telemark
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Re: Is Treasury Direct worth the hassle?

Post by telemark » Fri Aug 24, 2018 2:39 pm

HueyLD wrote:
Fri Aug 24, 2018 2:22 pm
What is an efficient way to deal with TD? Can you share your tips?
First, and most important: if you are changing your linked bank account, make sure you have added the new account successfuly before removing (and possibly closing) the old one. (For what it's worth, I added an American Express savings account about a year ago with no problems, but experiences may vary).

Second, read the instructions on each page carefully before doing anything, especially the bit about not using the back button. They mean it! It's not what we would now call an intuitive interface, but with a little patience I've always been able to make it work.

To the OP, if you've decided you want to buy I bonds, I wouldn't let the web site stand in your way.

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John151
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Re: Is Treasury Direct worth the hassle?

Post by John151 » Fri Aug 24, 2018 3:00 pm

Vanguard offers a couple of inflation-linked bond funds: Vanguard Short Term Inflation Protected Securities (duration of 2.8 years) and Vanguard Inflation Protected Securities (duration of 7.8 years). Their net asset values fluctuate and are reported each weekday.

I Bonds are more like a stable value fund with variable interest rates. The fixed rate is set when you buy the bonds, the inflation rate changes every six months, and the value of your bonds won’t drop below what you paid for them. I prefer them to the inflation-linked bond funds.

Wricha
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Re: Is Treasury Direct worth the hassle?

Post by Wricha » Fri Aug 24, 2018 3:16 pm

telemark wrote:
Fri Aug 24, 2018 2:39 pm
HueyLD wrote:
Fri Aug 24, 2018 2:22 pm
What is an efficient way to deal with TD? Can you share your tips?
First, and most important: if you are changing your linked bank account, make sure you have added the new account successfuly before removing (and possibly closing) the old one. (For what it's worth, I added an American Express savings account about a year ago with no problems, but experiences may vary).

Second, read the instructions on each page carefully before doing anything, especially the bit about not using the back button. They mean it! It's not what we would now call an intuitive interface, but with a little patience I've always been able to make it work.

To the OP, if you've decided you want to buy I bonds, I wouldn't let the web site stand in your way.

The back button is the kiss of death. It not impossible to use just clumsy. Can not get it to link with personal capital any advice?

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Phineas J. Whoopee
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Re: Is Treasury Direct worth the hassle?

Post by Phineas J. Whoopee » Fri Aug 24, 2018 3:40 pm

Big Dog wrote:
Fri Aug 24, 2018 1:51 pm
not worth it to me, more from a standpoint of death. I can see off in the distant future when I am gone and the kids/heirs have no idea how to get the few thousand out of the fed account.

OTOH, much easier if 100% of everything is in Vanguard. One call. Automatic basis adjustments. No fuss, no muss.

(This ignores the non-user friendly website.)
All they will need is the fact you have assets there, your name, probably your Social Security number, and a death certificate. They never have to log in at all.

That's the case for any financial account.

Logging in as if one were the dead person and withdrawing funds is fraud. I'm sure it happens, but fraud it clearly is.

PJW

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Phineas J. Whoopee
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Re: Is Treasury Direct worth the hassle?

Post by Phineas J. Whoopee » Fri Aug 24, 2018 3:44 pm

HueyLD wrote:
Fri Aug 24, 2018 2:22 pm
What is an efficient way to deal with TD? Can you share your tips?
Read the instructions and follow them.

PJW

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Tyrobi
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Re: Is Treasury Direct worth the hassle?

Post by Tyrobi » Fri Aug 24, 2018 3:56 pm

HueyLD wrote:
Fri Aug 24, 2018 2:22 pm
What is an efficient way to deal with TD? Can you share your tips?
For instance, each person has their own preferred way to login. For me, I only use one laptop (MacBook Pro) to interact with TD. Never have issue with login or lock account. I also find that the website is easy to deal with since I have my own system to retrieve quickly account number/password/email code/security answers each and every time (same for my wife).

Others might have their own methods to deal with TD smoothly. I agree that if you hate dealing with TD then it's good idea to simplify and get rid of TD account.
Three-fund portfolio | "Simplicity is the master key to financial success." John C. Bogle

senex
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Re: Is Treasury Direct worth the hassle?

Post by senex » Fri Aug 24, 2018 4:01 pm

The downsides from my personal experience are these:
  • The website is "clunky." It's hard to navigate. If you click the "back" button of your browser it logs you out. Some options must be configured on a bond-by-bond basis (you can't just turn on reinvestment globally). Etc.
  • They don't mail you a 1099-INT. You must remember to log on and download it yourself every year
  • Adding linked bank accounts is tedious. When last I did it, it required getting a Medallion Guarantee from my local bank. (This is great for security, but requires tedious paperwork, physical visits, and several weeks)
Some Bogleheads report (as SpaethCo linked) frustration in dealing with estate issues (accounts of a deceased person).

al_harrington
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Re: Is Treasury Direct worth the hassle?

Post by al_harrington » Fri Aug 24, 2018 4:05 pm

SpaethCo wrote:
Fri Aug 24, 2018 2:23 pm
Posts like these concern me: viewtopic.php?t=220965
This is what stops me from participating in Treasury Direct at a significant level. I don't find the website or buying securities difficult but I'd rather avoid any significant future challenges for my heirs.

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Steelersfan
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Re: Is Treasury Direct worth the hassle?

Post by Steelersfan » Fri Aug 24, 2018 5:10 pm

Big Dog wrote:
Fri Aug 24, 2018 1:51 pm
not worth it to me, more from a standpoint of death. I can see off in the distant future when I am gone and the kids/heirs have no idea how to get the few thousand out of the fed account.
Transfer Direct is not the most intuitive site I've used, but if you use it more than once every year or two it's completely OK.

My demise is in the not so distant future and my executor has no experience with it, so I decided to save her an additional challenge at that time by transferring all my I-Bonds to my kids as this year's annual gift. Interest was due at the time of transfer so I get to pay that, but they get I-Bonds with a cost basis as of the date of transfer. They could then do whatever they wished with the money - cash them out and invest it, transfer the balance tax free to a 529 account, or keep them in Transfer Direct. All three of them decided to stick with Transfer Direct.

mpsz
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Re: Is Treasury Direct worth the hassle?

Post by mpsz » Fri Aug 24, 2018 5:22 pm

It's not worth it to me, unless you really need to buy I-Bonds. I'm currently happy enough with T-Bills, so I'm buying those through Fidelity and unwinding my TD holdings.

Posts like this one concern me: viewtopic.php?t=225415

In general, I think their online security is poor. You have to "click" your password into the site which is nonsense -- it's supposed to prevent against keyloggers, but screensharers are also a risk and now it's open to someone watching you enter it. It's actually worse than nonsense -- it's less secure than a real password. However, there is MFA available via e-mail.
Last edited by mpsz on Mon Aug 27, 2018 5:45 pm, edited 1 time in total.

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Blueskies123
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Re: Is Treasury Direct worth the hassle?

Post by Blueskies123 » Fri Aug 24, 2018 5:54 pm

Fidelity hit a home run with its bond/CD website. I have some Ibonds from 25 years ago in the safe deposit box and I sometimes think about opening a TDirect account and put the bonds online but I have to mail the originals into the treasury. It is just too much trouble. Having used the Fidelity bond site I am so spoiled. I wish I could mail the Ibonds to Fidelity. I trust them more.

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nisiprius
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Re: Is Treasury Direct worth the hassle?

Post by nisiprius » Fri Aug 24, 2018 6:05 pm

I really like series I savings bonds. They are a unique financial instruments with unique properties. It's not the interest rates. It's that, unlike marketable Treasury securities, they do not have interest rate risk; and unlike bank accounts, they do not have inflation risk.

No, the Treasury Direct website isn't good. I find it annoying... in the same way I find Facebook annoying. But I use Facebook, and I use Treasury Direct. I'm not going to cut off my nose to spite my face.

I continue to buy I bonds through Treasury Direct.

The most annoying thing about Treasury Direct is their overzealous security. I just checked right now and I was able to get in without problems, but for several years it insisted on emailing me a "one-time code" to log in, every time. Twice I've gotten locked out and have had to call them to get my account unlocked, each time there was no problem (other than having to call them).
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inbox788
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Re: Is Treasury Direct worth the hassle?

Post by inbox788 » Fri Aug 24, 2018 6:34 pm

Big Dog wrote:
Fri Aug 24, 2018 1:51 pm
OTOH, much easier if 100% of everything is in Vanguard. One call. Automatic basis adjustments. No fuss, no muss.
Is Vanguard or Treasury Direct able to handle the half step up basis for a spouse with a simple phone call?

viewtopic.php?t=179055
http://networthadvice.com/assets-get-%C ... ost-basis/

Big Dog
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Re: Is Treasury Direct worth the hassle?

Post by Big Dog » Fri Aug 24, 2018 6:49 pm

Vanguard requires a death certificate to re-assign the accounts.

I yet haven't experienced the spousal basis adjustment in our community property state. But when my mom passed a couple of years ago, Vanguard split her assets to the two beneficiaries (ToD/PoD account) with the correct basis.

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DanMahowny
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Re: Is Treasury Direct worth the hassle?

Post by DanMahowny » Fri Aug 24, 2018 7:11 pm

I still have my "super-secret-password-decoder-card-thingy" (SSPDCT).

Anyone remember those?
Funding secured

nwffdiver
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Re: Is Treasury Direct worth the hassle?

Post by nwffdiver » Fri Aug 24, 2018 7:36 pm

The TD website is less than “user friendly”, but setting up an account is pretty easy as already said. I personally have a few I Bonds there, but find buying treasuries easier through Vanguards site, this way I could sell them early if ever needed.

Never personally had any problem adding a bank, but have had the account for 5-6 years now.

Brad

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Steelersfan
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Re: Is Treasury Direct worth the hassle?

Post by Steelersfan » Fri Aug 24, 2018 8:52 pm

DanMahowny wrote:
Fri Aug 24, 2018 7:11 pm
I still have my "super-secret-password-decoder-card-thingy" (SSPDCT).

Anyone remember those?
Yup. I still have mine somewhere.

Those were a pain, and their memory lives on in some people's minds to cloud their opinion of usability.

But once technology improved so that people had graphic capable screens they were retired.

samjuno
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Re: Is Treasury Direct worth the hassle?

Post by samjuno » Fri Aug 24, 2018 9:05 pm

Been buying I-bonds for years. Prefer the paper bonds & tried to get tax refund paid in them, but for some reason the IRS ignores my request (& included form). Have TD account for several years & once I got used to not hitting the "back" key, things have gone smoothly.

One I-bond hassle: if you want to change a beneficiary on the paper bond, you will need to convert the bond to a TD electronic bond. Enough of a hassle to prevent me from acting. Beneficiary changes online w/ TD bonds are easy.


-sam

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spdoublebass
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Re: Is Treasury Direct worth the hassle?

Post by spdoublebass » Fri Aug 24, 2018 10:20 pm

I’m not advanced in anything investing wise. I found Treasury Direct to be easy. I even attach a secondary person to my iBonds in case of my death.

I also use it for individual treasury bonds.
I'm trying to think, but nothing happens

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F150HD
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Re: Is Treasury Direct worth the hassle?

Post by F150HD » Fri Aug 24, 2018 11:15 pm

Big Dog wrote:
Fri Aug 24, 2018 1:51 pm
(This ignores the non-user friendly website.)
+1

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whodidntante
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Re: Is Treasury Direct worth the hassle?

Post by whodidntante » Fri Aug 24, 2018 11:47 pm

SpaethCo wrote:
Fri Aug 24, 2018 2:23 pm
Posts like these concern me: viewtopic.php?t=220965

.. but there's no other way to buy I-bonds, so I suck it up and deal with it for that. I'm not sure I understand their logic for what actions require a Medallion Signature Guarantee. The last time I added an online credit union to my TreasuryDirect account I had to mail in a form with a MSG stamp, which was really fun to try and get a local bank to issue that. ("So you want me to guarantee that this other bank is your bank?" was the question that the guy at WellsFargo kept asking me, before I eventually gave up and drove to a different branch. It was not a great day.)
Ugh.

It's a signature guarantee and is a protection against forgery. They don't have to guarantee that you own the Magna Carta or whatever the paper says.

daveydoo
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Re: Is Treasury Direct worth the hassle?

Post by daveydoo » Sat Aug 25, 2018 2:07 am

Another not-worth-it vote.

And I also hate the interface.

And I hate the odd mix of electronic and paper bonds that I'm somehow saddled with and I can't remember how or why.
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GoldStar
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Re: Is Treasury Direct worth the hassle?

Post by GoldStar » Sat Aug 25, 2018 6:04 am

No hassle for me.
It took me 10 minutes to open an account several years ago.
Now I log in once a year and make a purchase - another 5 minutes. After making the purchase I add the new iBond to my investments spreadsheet and I am done.
My plan is to do the reverse when I retire. Login once a year and cash one iBond. If there are any left after I die that heirs need to go through some trouble to get I am sure they won't complain too much as they will be rewarded for the trouble.

blueman457
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Re: Is Treasury Direct worth the hassle?

Post by blueman457 » Sat Aug 25, 2018 8:25 am

SpaethCo wrote:
Fri Aug 24, 2018 2:23 pm
Posts like these concern me: viewtopic.php?t=220965

.. but there's no other way to buy I-bonds, so I suck it up and deal with it for that. I'm not sure I understand their logic for what actions require a Medallion Signature Guarantee. The last time I added an online credit union to my TreasuryDirect account I had to mail in a form with a MSG stamp, which was really fun to try and get a local bank to issue that. ("So you want me to guarantee that this other bank is your bank?" was the question that the guy at WellsFargo kept asking me, before I eventually gave up and drove to a different branch. It was not a great day.)

For treasuries, I feel like there are only downsides to TD. Fidelity sells new issues at 0 commission, offers the same auto-roll function, allows me to easily sell (or buy) on the secondary market with a couple clicks should the need arise, and by all accounts will be far easier for my survivors to work with in the unfortunate event I am no longer around.
+1

It isn't hard to set up or maintain as long as I'm alive, but the how my spouse (or heirs) get the money appears to be rather difficult compared to other options.

Blue Man

GLState
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Re: Is Treasury Direct worth the hassle?

Post by GLState » Sat Aug 25, 2018 8:26 am

It is easy to open a Treasury Direct account, to fund it, and get your money out. Open an account to learn if it is "worth it" for you. IMO, Ibonds are a great investment, but with an limit of $10,000 / year, it is hard to make IBond's a significant factor in our total portfolio.

I didn't find Treasury Direct to be a hassle. Yes, the website has strange security features and you'll be logged out if you use the "back" button, but we shouldn't have to use the site very often. I started buying Ibonds about 2010, so the fixed rates have generally been zero; The return largely came from the inflation factor. Others, bought bought before 2008 and have enjoyed fixed rates of 1 to 3.5%. They love Ibonds! I converted any paper bonds to TD and gradually sold off all my Ibonds, so my wife would have one less account to worry about when I'm gone.

IBond Rate Chart: https://www.treasurydirect.gov/indiv/re ... eChart.pdf

Swimmer
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Re: Is Treasury Direct worth the hassle?

Post by Swimmer » Sat Aug 25, 2018 8:59 am

blueman457 wrote:
Sat Aug 25, 2018 8:25 am
SpaethCo wrote:
Fri Aug 24, 2018 2:23 pm
Posts like these concern me: viewtopic.php?t=220965

.. but there's no other way to buy I-bonds, so I suck it up and deal with it for that. I'm not sure I understand their logic for what actions require a Medallion Signature Guarantee. The last time I added an online credit union to my TreasuryDirect account I had to mail in a form with a MSG stamp, which was really fun to try and get a local bank to issue that. ("So you want me to guarantee that this other bank is your bank?" was the question that the guy at WellsFargo kept asking me, before I eventually gave up and drove to a different branch. It was not a great day.)

For treasuries, I feel like there are only downsides to TD. Fidelity sells new issues at 0 commission, offers the same auto-roll function, allows me to easily sell (or buy) on the secondary market with a couple clicks should the need arise, and by all accounts will be far easier for my survivors to work with in the unfortunate event I am no longer around.
+1

It isn't hard to set up or maintain as long as I'm alive, but the how my spouse (or heirs) get the money appears to be rather difficult compared to other options.

Blue Man

No problem with TD. Ours is owned under our trust. I sent TD a message asking what our successor trustee (son) would need to do to access the funds when he assumes management of the trust. Oh my!! It sounds so convoluted a process and, of course, involves a medallion signature and a long government form and numerous supporting documents.

I’m actually concerned it would take a very long time for him to jump through the hoops to get the funds. Has anyone, as an heir or successor trustee, dealt with an “entity” account at TD? Can you please share your experience?

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Re: Is Treasury Direct worth the hassle?

Post by Index Fan » Sat Aug 25, 2018 10:02 am

Too much of a hassle for me. Very user-unfriendly, would be a nightmare for heirs. Good luck!
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HueyLD
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Re: Is Treasury Direct worth the hassle?

Post by HueyLD » Sat Aug 25, 2018 10:05 am

I appreciate TD's attempts to make our accounts more secured. But I am also concerned about the average person's ability to deal with TD, especially after the death of the primary owner.

It may be a good enough reason for those who are concerned about such issues to gradually liquidate their TD holdings.

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Phineas J. Whoopee
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Re: Is Treasury Direct worth the hassle?

Post by Phineas J. Whoopee » Sat Aug 25, 2018 11:40 am

mpsz wrote:
Fri Aug 24, 2018 5:22 pm
It's not worth it to me, unless you really need to buy I-Bonds. I'm currently happy enough with T-Bills, so I'm buying those through Fidelity and unwinding my TD holdings.

Posts like this one concern me: viewtopic.php?t=225415

In general, I think their online security is poor. You have to "click" your password into the site which is nonsense -- it's supposed to prevent against keyloggers, but screensharers are also a risk and now it's open to someone watching you enter it. It's actually worse than nonsense -- it's less secure than a real password. There is no MFA.
There is in fact two-factor authentication. They call it a One Time Passcode. It's email based, so less secure than some other methods, but to say there isn't any at all is an error.

PJW

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Phineas J. Whoopee
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Re: Is Treasury Direct worth the hassle?

Post by Phineas J. Whoopee » Sat Aug 25, 2018 11:41 am

DanMahowny wrote:
Fri Aug 24, 2018 7:11 pm
I still have my "super-secret-password-decoder-card-thingy" (SSPDCT).

Anyone remember those?
Yes, with affection. Under great pressure from people calling it things like the secret decoder ring TD changed from them to the less-secure email method.

PJW

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Phineas J. Whoopee
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Re: Is Treasury Direct worth the hassle?

Post by Phineas J. Whoopee » Sat Aug 25, 2018 11:43 am

whodidntante wrote:
Fri Aug 24, 2018 11:47 pm
...
It's a signature guarantee and is a protection against forgery. They don't have to guarantee that you own the Magna Carta or whatever the paper says.
I can say from personal experience TD no longer requires any sort of signature guarantee, let alone a medallion, to add or change a bank account, and that multiple linked bank accounts are allowed.

Nobody has to use Treasury Direct if it isn't worth it to them.

PJW

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Re: Is Treasury Direct worth the hassle?

Post by boater07 » Sat Aug 25, 2018 3:19 pm

Index Fan wrote:
Sat Aug 25, 2018 10:02 am
Too much of a hassle for me. Very user-unfriendly, would be a nightmare for heirs. Good luck!
I felt better when i could leave a printed summary of my holdings in the Wizzard.

Have not found a good alternative. Any suggestions?

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damjam
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Re: Is Treasury Direct worth the hassle?

Post by damjam » Sat Aug 25, 2018 4:59 pm

Phineas J. Whoopee wrote:
Sat Aug 25, 2018 11:43 am

I can say from personal experience TD no longer requires any sort of signature guarantee, let alone a medallion, to add or change a bank account, and that multiple linked bank accounts are allowed.

...

PJW
This is my experience as well. I recently both added and deleted a new bank account. All done online. No issues.

mpsz
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Re: Is Treasury Direct worth the hassle?

Post by mpsz » Mon Aug 27, 2018 5:47 pm

Phineas J. Whoopee wrote:
Sat Aug 25, 2018 11:40 am
mpsz wrote:
Fri Aug 24, 2018 5:22 pm
There is no MFA.
There is in fact two-factor authentication. They call it a One Time Passcode. It's email based, so less secure than some other methods, but to say there isn't any at all is an error.

PJW
You're correct... I haven't signed in to TD in a while. I've updated my post. :oops:

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Noobvestor
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Re: Is Treasury Direct worth the hassle?

Post by Noobvestor » Mon Aug 27, 2018 7:10 pm

nisiprius wrote:
Fri Aug 24, 2018 6:05 pm
I really like series I savings bonds. They are a unique financial instruments with unique properties. It's not the interest rates. It's that, unlike marketable Treasury securities, they do not have interest rate risk; and unlike bank accounts, they do not have inflation risk.

No, the Treasury Direct website isn't good. I find it annoying... in the same way I find Facebook annoying. But I use Facebook, and I use Treasury Direct. I'm not going to cut off my nose to spite my face.

I continue to buy I bonds through Treasury Direct.

The most annoying thing about Treasury Direct is their overzealous security. I just checked right now and I was able to get in without problems, but for several years it insisted on emailing me a "one-time code" to log in, every time. Twice I've gotten locked out and have had to call them to get my account unlocked, each time there was no problem (other than having to call them).
I second all of the above. I would just add that since I only buy once a year, I only have to deal with logging in once a year, which is nice.
"In the absence of clarity, diversification is the only logical strategy" -= Larry Swedroe

MikeG62
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Location: New Jersey

Re: Is Treasury Direct worth the hassle?

Post by MikeG62 » Tue Aug 28, 2018 7:43 am

FIREchief wrote:
Fri Aug 24, 2018 2:00 pm
Big Dog wrote:
Fri Aug 24, 2018 1:51 pm
not worth it to me, more from a standpoint of death. I can see off in the distant future when I am gone and the kids/heirs have no idea how to get the few thousand out of the fed account.

OTOH, much easier if 100% of everything is in Vanguard. One call. Automatic basis adjustments. No fuss, no muss.

(This ignores the non-user friendly website.)
+1. (except, with Fidelity the same is all true plus you get a user-friendly website :sharebeer )
+1 to doing the same with Fidelity.
Real Knowledge Comes Only From Experience

West of Chicago
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Re: Is Treasury Direct worth the hassle?

Post by West of Chicago » Tue Aug 28, 2018 10:03 am

Swimmer wrote:
Sat Aug 25, 2018 8:59 am
No problem with TD. Ours is owned under our trust. I sent TD a message asking what our successor trustee (son) would need to do to access the funds when he assumes management of the trust. Oh my!! It sounds so convoluted a process and, of course, involves a medallion signature and a long government form and numerous supporting documents.

I’m actually concerned it would take a very long time for him to jump through the hoops to get the funds. Has anyone, as an heir or successor trustee, dealt with an “entity” account at TD? Can you please share your experience?
I went through the process as successor trustee earlier this year after my mother passed away. The two biggest challenges were figuring out which forms were needed and which parts of the forms needed to be completed. TD reps helped me through the process. It was not intuitive based on the instructions.

As previously mentioned, I also had to get a medallion signature guarantee. The trust's checking account was at a bank in another state, so I opened a checking account for the trust at Chase where my wife and I have accounts. Chase then gave me the medallion. I kept the account open until everything was settled and then closed it.

As I recall, it took TD a few weeks to complete the transfer of the I-bonds from the trust to my TD account, but everything went through without a hitch.

The whole process was a bit involved, but no worse than settling other parts of the estate.

I should note that I was successor trustee for a number of years prior to my mother's death, so I did not have to establish myself in that role as part of settling the estate. That would likely add another layer of paperwork.

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nedsaid
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Re: Is Treasury Direct worth the hassle?

Post by nedsaid » Tue Aug 28, 2018 4:42 pm

Darth Xanadu wrote:
Fri Aug 24, 2018 1:29 pm
I opened a TD account to buy Series I Bonds, and I haven't found it to be a hassle at all. So I think the question to ask yourself is, do you really want to buy I Bonds? If yes, then open the TD account. It's really not this big scary thing people make it out to be.
That is my take too. You need to remember your account number and password and have an e-mail account for your security code. Not that much of a hassle.
A fool and his money are good for business.

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