Is an I-bond a good place to park some cash?

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Destiple
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Re: Is an I-bond a good place to park some cash?

Post by Destiple »

Mel Lindauer wrote: Wed Jul 21, 2021 12:38 am
Destiple wrote: Tue Jul 20, 2021 8:33 pm TIPS has limit of 1 million I think
Why not park cash there for sometime in periods of uncertainty rather than limited I bonds or EE BONds ?
Because, at the present time, with TIPS' current negative real yields, you're guaranteed to lose spending power.
but if inflation does go up as predicted then TIPS will be a better place to park some short term assets while you DCA them into stocks/bonds ?
02nz
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Re: Is an I-bond a good place to park some cash?

Post by 02nz »

tibbitts wrote: Tue Jul 20, 2021 6:11 pm Just make sure that you understand that with I-bonds you're guaranteed to lose money to inflation after taxes unless you're in the 0% bracket.
Is there a safe (FDIC-insured or backed by full faith and credit of US government) instrument that's not guaranteed to lose money after inflation and taxes? I don't think so. I bonds are currently paying about 7X what the best online savings accounts are offering. Even if you withdraw at 1 year and lose 3 months' interest, you'll almost certainly come out way ahead. (No, we don't know what the rate will be come November, but with inflation where it is, it's not going to be 0 or close to it.)
tibbitts wrote: Tue Jul 20, 2021 6:11 pm You could make more with similar effort using a credit card bonus.
To point out the obvious: you can do both, since the two have nothing to do with each other.
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anon_investor
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Re: Is an I-bond a good place to park some cash?

Post by anon_investor »

tibbitts wrote: Wed Jul 21, 2021 7:56 am
SchruteB&B wrote: Wed Jul 21, 2021 6:36 am
fuddbogle wrote: Tue Jul 20, 2021 5:05 pm
anaparafunds wrote: Tue Jul 20, 2021 4:44 pm I'm also interested in this idea but according to some comments I've seen, it can be an unrecoverable blackhole due to how old their site is? There's almost no support? Are these true?
Remember your password
Remember and do NOT change your bank account

Do those 2 things and you'll be fine
I’ve changed the bank account I had linked to Treasury Direct and it went fine, absolutely no problems.
I'm in the process of adding a second bank account, and based on the thread where I asked about it, it seemed like it should go smoothly. As far as I know "changing" would require adding (by USmail), then deleting the previous account electronically. I'm adding a second account just in case the first one gets lost somehow (for example the account number has to be changed for some reason.)
I am glad I added my additional bank accounts online before they changed their policy require it be added via paper form with a signature gurantee. Although, they definitely did lock my account after I added the accounts and I had to call to get the account unlocked.
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KlingKlang
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Re: Is an I-bond a good place to park some cash?

Post by KlingKlang »

tomsense76 wrote: Wed Jul 21, 2021 1:28 am
Noobvestor wrote: Tue Jul 20, 2021 10:23 pm
KlingKlang wrote: Tue Jul 20, 2021 9:22 pm
Destiple wrote: Tue Jul 20, 2021 8:33 pm TIPS has limit of 1 million I think
Why not park cash there for sometime in periods of uncertainty rather than limited I bonds or EE BONds ?
The limit for noncompetitive purchases is $5 million for each security type and term, for each auction.
Oh man totally worthless then for my billions! -= Jeff Bezos (JK, but I really didn't even know there WAS a limit)
Interesting do you know why that limit exists? I understand why the Treasury would want some limit, but am curious why $5 million in particular was picked? Does that have something to do with the liquidity of the TIPS market? Or the size of the auctions?
The $5 million limit exists for noncompetitive purchases, which means that you are accepting the best rate determined during the auction. Above that you must make a competitive bid (I'm sure that you do this all the time, Jeff :greedy ), which means that you are actually involved with setting the interest rate as part of the auction process.
tibbitts
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Re: Is an I-bond a good place to park some cash?

Post by tibbitts »

02nz wrote: Wed Jul 21, 2021 10:11 am
tibbitts wrote: Tue Jul 20, 2021 6:11 pm You could make more with similar effort using a credit card bonus.
To point out the obvious: you can do both, since the two have nothing to do with each other.
You could also add a part-time job. That I've done a couple of credit card bonuses in the past year, but not bought any I-bonds despite already having a bunch of them in a TD account, probably speaks to my opinion of the relative benefit, so that's what I was getting at. Both credit card bonuses and I-bonds would be less of a nuisance than adding a part-time job, though.
tibbitts
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Re: Is an I-bond a good place to park some cash?

Post by tibbitts »

anon_investor wrote: Wed Jul 21, 2021 10:15 am
tibbitts wrote: Wed Jul 21, 2021 7:56 am
SchruteB&B wrote: Wed Jul 21, 2021 6:36 am
fuddbogle wrote: Tue Jul 20, 2021 5:05 pm
anaparafunds wrote: Tue Jul 20, 2021 4:44 pm I'm also interested in this idea but according to some comments I've seen, it can be an unrecoverable blackhole due to how old their site is? There's almost no support? Are these true?
Remember your password
Remember and do NOT change your bank account

Do those 2 things and you'll be fine
I’ve changed the bank account I had linked to Treasury Direct and it went fine, absolutely no problems.
I'm in the process of adding a second bank account, and based on the thread where I asked about it, it seemed like it should go smoothly. As far as I know "changing" would require adding (by USmail), then deleting the previous account electronically. I'm adding a second account just in case the first one gets lost somehow (for example the account number has to be changed for some reason.)
I am glad I added my additional bank accounts online before they changed their policy require it be added via paper form with a signature gurantee. Although, they definitely did lock my account after I added the accounts and I had to call to get the account unlocked.
While getting my signature guarantee, I was surprised that the bank wanted a copy of a TD statement showing my TD account number. I wasn't prepared for that, thinking the guarantee was just guaranteeing my identity. In any case I mailed off my request so I'll see if it works.
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anon_investor
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Re: Is an I-bond a good place to park some cash?

Post by anon_investor »

tibbitts wrote: Wed Jul 21, 2021 4:52 pm
anon_investor wrote: Wed Jul 21, 2021 10:15 am
tibbitts wrote: Wed Jul 21, 2021 7:56 am
SchruteB&B wrote: Wed Jul 21, 2021 6:36 am
fuddbogle wrote: Tue Jul 20, 2021 5:05 pm

Remember your password
Remember and do NOT change your bank account

Do those 2 things and you'll be fine
I’ve changed the bank account I had linked to Treasury Direct and it went fine, absolutely no problems.
I'm in the process of adding a second bank account, and based on the thread where I asked about it, it seemed like it should go smoothly. As far as I know "changing" would require adding (by USmail), then deleting the previous account electronically. I'm adding a second account just in case the first one gets lost somehow (for example the account number has to be changed for some reason.)
I am glad I added my additional bank accounts online before they changed their policy require it be added via paper form with a signature gurantee. Although, they definitely did lock my account after I added the accounts and I had to call to get the account unlocked.
While getting my signature guarantee, I was surprised that the bank wanted a copy of a TD statement showing my TD account number. I wasn't prepared for that, thinking the guarantee was just guaranteeing my identity. In any case I mailed off my request so I'll see if it works.
What did you show them, since there are no formal TD "statements" (that I know of)?
02nz
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Re: Is an I-bond a good place to park some cash?

Post by 02nz »

tibbitts wrote: Wed Jul 21, 2021 4:47 pm You could also add a part-time job. That I've done a couple of credit card bonuses in the past year, but not bought any I-bonds despite already having a bunch of them in a TD account, probably speaks to my opinion of the relative benefit, so that's what I was getting at. Both credit card bonuses and I-bonds would be less of a nuisance than adding a part-time job, though.
But the OP's question isn't what to do with an extra 30 minutes or whatever, but rather where to park money. So it's unclear what assessment of the relative benefit vs. chasing CC bonuses or working a part-time job has to do with the discussion.
anaparafunds
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Re: Is an I-bond a good place to park some cash?

Post by anaparafunds »

tibbitts wrote: Wed Jul 21, 2021 4:52 pm
anon_investor wrote: Wed Jul 21, 2021 10:15 am
tibbitts wrote: Wed Jul 21, 2021 7:56 am
SchruteB&B wrote: Wed Jul 21, 2021 6:36 am
fuddbogle wrote: Tue Jul 20, 2021 5:05 pm

Remember your password
Remember and do NOT change your bank account

Do those 2 things and you'll be fine
I’ve changed the bank account I had linked to Treasury Direct and it went fine, absolutely no problems.
I'm in the process of adding a second bank account, and based on the thread where I asked about it, it seemed like it should go smoothly. As far as I know "changing" would require adding (by USmail), then deleting the previous account electronically. I'm adding a second account just in case the first one gets lost somehow (for example the account number has to be changed for some reason.)
I am glad I added my additional bank accounts online before they changed their policy require it be added via paper form with a signature gurantee. Although, they definitely did lock my account after I added the accounts and I had to call to get the account unlocked.
While getting my signature guarantee, I was surprised that the bank wanted a copy of a TD statement showing my TD account number. I wasn't prepared for that, thinking the guarantee was just guaranteeing my identity. In any case I mailed off my request so I'll see if it works.
I don't get it. I thought I just needed to add a checking/savings account to treasury direct and call it a day. What's this signature guarantee? Is this the one that I mentioned earlier where you have to find a bank manager to sign it?
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Mel Lindauer
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Re: Is an I-bond a good place to park some cash?

Post by Mel Lindauer »

Destiple wrote: Wed Jul 21, 2021 9:44 am
Mel Lindauer wrote: Wed Jul 21, 2021 12:38 am
Destiple wrote: Tue Jul 20, 2021 8:33 pm TIPS has limit of 1 million I think
Why not park cash there for sometime in periods of uncertainty rather than limited I bonds or EE BONds ?
Because, at the present time, with TIPS' current negative real yields, you're guaranteed to lose spending power.
but if inflation does go up as predicted then TIPS will be a better place to park some short term assets while you DCA them into stocks/bonds ?
You'll still lose spending power.
Best Regards - Mel | | Semper Fi
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anon_investor
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Re: Is an I-bond a good place to park some cash?

Post by anon_investor »

anaparafunds wrote: Wed Jul 21, 2021 5:41 pm
tibbitts wrote: Wed Jul 21, 2021 4:52 pm
anon_investor wrote: Wed Jul 21, 2021 10:15 am
tibbitts wrote: Wed Jul 21, 2021 7:56 am
SchruteB&B wrote: Wed Jul 21, 2021 6:36 am

I’ve changed the bank account I had linked to Treasury Direct and it went fine, absolutely no problems.
I'm in the process of adding a second bank account, and based on the thread where I asked about it, it seemed like it should go smoothly. As far as I know "changing" would require adding (by USmail), then deleting the previous account electronically. I'm adding a second account just in case the first one gets lost somehow (for example the account number has to be changed for some reason.)
I am glad I added my additional bank accounts online before they changed their policy require it be added via paper form with a signature gurantee. Although, they definitely did lock my account after I added the accounts and I had to call to get the account unlocked.
While getting my signature guarantee, I was surprised that the bank wanted a copy of a TD statement showing my TD account number. I wasn't prepared for that, thinking the guarantee was just guaranteeing my identity. In any case I mailed off my request so I'll see if it works.
I don't get it. I thought I just needed to add a checking/savings account to treasury direct and call it a day. What's this signature guarantee? Is this the one that I mentioned earlier where you have to find a bank manager to sign it?
When you want to add an additional bank account to an existing account you need to mail in a paper form, which requires a signature guarantee, usually obtained at a bank.
ivgrivchuck
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Re: Is an I-bond a good place to park some cash?

Post by ivgrivchuck »

Stillwater1971 wrote: Tue Jul 20, 2021 4:42 pm Then I came across Gov't I-bonds and was curious what Bogleheads thought of it? I won't need the money for about 5-6 years. Right now, it's at 3.54%.
They are the best option for cash/bonds available for the retail investors right now.

I've maxed them out now for a couple of years for myself/spouse.

This year I started maxing them out for my children as well (anticipated to cover college expenses)
40% VTI | 40% VXUS | 13% I-bonds | 7% EE-bonds
tibbitts
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Re: Is an I-bond a good place to park some cash?

Post by tibbitts »

anon_investor wrote: Wed Jul 21, 2021 5:16 pm
tibbitts wrote: Wed Jul 21, 2021 4:52 pm
anon_investor wrote: Wed Jul 21, 2021 10:15 am
tibbitts wrote: Wed Jul 21, 2021 7:56 am
SchruteB&B wrote: Wed Jul 21, 2021 6:36 am

I’ve changed the bank account I had linked to Treasury Direct and it went fine, absolutely no problems.
I'm in the process of adding a second bank account, and based on the thread where I asked about it, it seemed like it should go smoothly. As far as I know "changing" would require adding (by USmail), then deleting the previous account electronically. I'm adding a second account just in case the first one gets lost somehow (for example the account number has to be changed for some reason.)
I am glad I added my additional bank accounts online before they changed their policy require it be added via paper form with a signature gurantee. Although, they definitely did lock my account after I added the accounts and I had to call to get the account unlocked.
While getting my signature guarantee, I was surprised that the bank wanted a copy of a TD statement showing my TD account number. I wasn't prepared for that, thinking the guarantee was just guaranteeing my identity. In any case I mailed off my request so I'll see if it works.
What did you show them, since there are no formal TD "statements" (that I know of)?
Having not prepared anything, I thought I could log on at the bank and show them my account. But that didn't work due to too many layers of security: my TD account, email account, and LastPass account, and of course coming from the bank's public wifi. Ultimately I have sort of triple redundancy to get into accounts but one layer is my encrypted password file, which I hadn't updated for the one password I needed. And when the first two mechanisms tripped security precautions I need that last one. I know, I should just export the LastPass data and encrypt it. Well in terms of theoretical security I shouldn't do that but in terms of data accuracy I should. But I didn't. So I wound up coming back to the bank later in the day, having already brought up the TD page on my computer on my own network. The bank wasn't happy about not having a printed statement, but I think they understood that TD doesn't really work that way. So they made an exception and gave me the guarantee. Now whether it's going to work... well it's not a high priority for me (just a redundant bank account addition) so as long as TD doesn't break my existing linked bank account (or block me from logging in!) I'll be okay. I just had never thought about them wanting to verify that the account was mine, I was thinking they would only want to verify that it was me requesting the change, and then let TD figure out if I should be allowed to make the change.

Oh, it was a little disconcerting that the bank public wifi generated a certificate warning. But as far as I could tell the warning was just for the transaction with my browser sending the verification to request access to their network. Ultimately it didn't matter since I couldn't even get to the login process for my accounts, but still it seemed odd.
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anon_investor
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Re: Is an I-bond a good place to park some cash?

Post by anon_investor »

tibbitts wrote: Wed Jul 21, 2021 7:39 pm
anon_investor wrote: Wed Jul 21, 2021 5:16 pm
tibbitts wrote: Wed Jul 21, 2021 4:52 pm
anon_investor wrote: Wed Jul 21, 2021 10:15 am
tibbitts wrote: Wed Jul 21, 2021 7:56 am
I'm in the process of adding a second bank account, and based on the thread where I asked about it, it seemed like it should go smoothly. As far as I know "changing" would require adding (by USmail), then deleting the previous account electronically. I'm adding a second account just in case the first one gets lost somehow (for example the account number has to be changed for some reason.)
I am glad I added my additional bank accounts online before they changed their policy require it be added via paper form with a signature gurantee. Although, they definitely did lock my account after I added the accounts and I had to call to get the account unlocked.
While getting my signature guarantee, I was surprised that the bank wanted a copy of a TD statement showing my TD account number. I wasn't prepared for that, thinking the guarantee was just guaranteeing my identity. In any case I mailed off my request so I'll see if it works.
What did you show them, since there are no formal TD "statements" (that I know of)?
Having not prepared anything, I thought I could log on at the bank and show them my account. But that didn't work due to too many layers of security: my TD account, email account, and LastPass account, and of course coming from the bank's public wifi. Ultimately I have sort of triple redundancy to get into accounts but one layer is my encrypted password file, which I hadn't updated for the one password I needed. And when the first two mechanisms tripped security precautions I need that last one. I know, I should just export the LastPass data and encrypt it. Well in terms of theoretical security I shouldn't do that but in terms of data accuracy I should. But I didn't. So I wound up coming back to the bank later in the day, having already brought up the TD page on my computer on my own network. The bank wasn't happy about not having a printed statement, but I think they understood that TD doesn't really work that way. So they made an exception and gave me the guarantee. Now whether it's going to work... well it's not a high priority for me (just a redundant bank account addition) so as long as TD doesn't break my existing linked bank account (or block me from logging in!) I'll be okay. I just had never thought about them wanting to verify that the account was mine, I was thinking they would only want to verify that it was me requesting the change, and then let TD figure out if I should be allowed to make the change.

Oh, it was a little disconcerting that the bank public wifi generated a certificate warning. But as far as I could tell the warning was just for the transaction with my browser sending the verification to request access to their network. Ultimately it didn't matter since I couldn't even get to the login process for my accounts, but still it seemed odd.
Interesting, my spouse got a signature guarantee from our bank to transfer stocks between brokerage accounts (unrelated entities to the bank) and the bank didn't ask for any brokerage statements.
pasadena
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Re: Is an I-bond a good place to park some cash?

Post by pasadena »

anon_investor wrote: Wed Jul 21, 2021 6:47 pm
anaparafunds wrote: Wed Jul 21, 2021 5:41 pm
tibbitts wrote: Wed Jul 21, 2021 4:52 pm
anon_investor wrote: Wed Jul 21, 2021 10:15 am
tibbitts wrote: Wed Jul 21, 2021 7:56 am
I'm in the process of adding a second bank account, and based on the thread where I asked about it, it seemed like it should go smoothly. As far as I know "changing" would require adding (by USmail), then deleting the previous account electronically. I'm adding a second account just in case the first one gets lost somehow (for example the account number has to be changed for some reason.)
I am glad I added my additional bank accounts online before they changed their policy require it be added via paper form with a signature gurantee. Although, they definitely did lock my account after I added the accounts and I had to call to get the account unlocked.
While getting my signature guarantee, I was surprised that the bank wanted a copy of a TD statement showing my TD account number. I wasn't prepared for that, thinking the guarantee was just guaranteeing my identity. In any case I mailed off my request so I'll see if it works.
I don't get it. I thought I just needed to add a checking/savings account to treasury direct and call it a day. What's this signature guarantee? Is this the one that I mentioned earlier where you have to find a bank manager to sign it?
When you want to add an additional bank account to an existing account you need to mail in a paper form, which requires a signature guarantee, usually obtained at a bank.
To clarify, you do not need a signature guarantee for the first account that you link. You will need one if you want to link a second account, or edit the first one.
teniralc
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Re: Is an I-bond a good place to park some cash?

Post by teniralc »

Stillwater1971 wrote: Tue Jul 20, 2021 4:42 pm I have some extra cash sitting in my savings acct (which is making squat with a sad interest rate). Had the thought of going with a non-brick and mortar "bank" such as HM Bradley which was offering 3%. But it seems a bit sketchy.

Then I came across Gov't I-bonds and was curious what Bogleheads thought of it? I won't need the money for about 5-6 years. Right now, it's at 3.54%.

Pros?
Cons?

Thanks in advance.
I bought about $60,000 worth of I-bonds over the course of numerous years. I bought them in addition to the little 529 money that I put away for our children's college. With the 529 rules, I didn't want to commit much to the 529 if something happened and one of our kids didn't go or didn't complete college. I have been using these for the college expenses. Though there are some restrictions, overall, it has been a safe and good decision for us.
smectym
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Re: Is an I-bond a good place to park some cash?

Post by smectym »

Stillwater1971 wrote: Tue Jul 20, 2021 4:42 pm I have some extra cash sitting in my savings acct (which is making squat with a sad interest rate). Had the thought of going with a non-brick and mortar "bank" such as HM Bradley which was offering 3%. But it seems a bit sketchy.

Then I came across Gov't I-bonds and was curious what Bogleheads thought of it? I won't need the money for about 5-6 years. Right now, it's at 3.54%.

Pros?
Cons?

Thanks in advance.
Others have perhaps addressed the main points, and past performance is no guarantee of future results, but our I bond purchases over the years, though in a low-inflation era, have delivered competitive returns even without considering the exemption from state tax and federal tax deferral. I won’t try to predict future inflation but if it’s above recent trend you’ll be happy to be in I bonds. Tough to identify major downside as long as you definitely won’t need the cash for 1 year. Also, I echo others whose experience with TD customer service has been positive.
anaparafunds
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Re: Is an I-bond a good place to park some cash?

Post by anaparafunds »

anon_investor wrote: Wed Jul 21, 2021 6:47 pm
anaparafunds wrote: Wed Jul 21, 2021 5:41 pm
tibbitts wrote: Wed Jul 21, 2021 4:52 pm
anon_investor wrote: Wed Jul 21, 2021 10:15 am
tibbitts wrote: Wed Jul 21, 2021 7:56 am
I'm in the process of adding a second bank account, and based on the thread where I asked about it, it seemed like it should go smoothly. As far as I know "changing" would require adding (by USmail), then deleting the previous account electronically. I'm adding a second account just in case the first one gets lost somehow (for example the account number has to be changed for some reason.)
I am glad I added my additional bank accounts online before they changed their policy require it be added via paper form with a signature gurantee. Although, they definitely did lock my account after I added the accounts and I had to call to get the account unlocked.
While getting my signature guarantee, I was surprised that the bank wanted a copy of a TD statement showing my TD account number. I wasn't prepared for that, thinking the guarantee was just guaranteeing my identity. In any case I mailed off my request so I'll see if it works.
I don't get it. I thought I just needed to add a checking/savings account to treasury direct and call it a day. What's this signature guarantee? Is this the one that I mentioned earlier where you have to find a bank manager to sign it?
When you want to add an additional bank account to an existing account you need to mail in a paper form, which requires a signature guarantee, usually obtained at a bank.
Thanks. I'm gonna try to create an account later. I hope everything goes smoothly.
pasadena
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Re: Is an I-bond a good place to park some cash?

Post by pasadena »

Question: I created a new account this week, and linked my EF bank account. It was all very easy, but I'm a little concerned that TD accepted my bank account without any kind of verification - no credentials, no small deposits.

Is that normal? Sounds weird when they have you get a verified signature for a second account. Will they verify it when I make my first purchase, in which case, is it going to push the I-bonds issuance date a few days?
MishkaWorries
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Re: Is an I-bond a good place to park some cash?

Post by MishkaWorries »

You should be fine. I opened an TD account and linked our joint bank account with no problem. I then opened an TD account for my wife linking the same joint account. Fir some reason TD decided my wife had to get a signature guarantee from our bank. It was no big deal. We were in and out of the bank in 10 or 15 minutes and this was during Coronavirus times.
We plan. G-d laughs.
tomsense76
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Re: Is an I-bond a good place to park some cash?

Post by tomsense76 »

tibbitts wrote: Wed Jul 21, 2021 8:13 am
#Cruncher wrote: Wed Jul 21, 2021 7:59 am
tibbitts wrote: Tue Jul 20, 2021 6:11 pm Just make sure that you understand that with I-bonds you're guaranteed to lose money to inflation after taxes unless you're in the 0% bracket.
This isn't strictly correct. I Bonds purchased until October will indeed have a 0% fixed rate. But, because its composite rate isn't allowed to be less than zero, a negative inflation rate for any six-month period during its life will cause the real value for one of these to end up being more than 0%.
That's a good point; I should have thought of that since I did benefit from the 0% feature during the periods you mentioned. Thanks for the correction.
Just to add the CPI may or may not match one's personal inflation. Some of the highest categories in the CPI have really been related to cars & housing. If one is continuing to drive their existing car (or perhaps trading out their used car for a new one at cost) and not buying a lot of the household goods (appliances & furniture), personal inflation may be quite low. IOW I Bonds might be outperforming one's personal inflation.
"Anyone who claims to understand quantum theory is either lying or crazy" -- Richard Feynman
anaparafunds
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Re: Is an I-bond a good place to park some cash?

Post by anaparafunds »

anon_investor wrote: Wed Jul 21, 2021 6:47 pm
anaparafunds wrote: Wed Jul 21, 2021 5:41 pm
tibbitts wrote: Wed Jul 21, 2021 4:52 pm
anon_investor wrote: Wed Jul 21, 2021 10:15 am
tibbitts wrote: Wed Jul 21, 2021 7:56 am
I'm in the process of adding a second bank account, and based on the thread where I asked about it, it seemed like it should go smoothly. As far as I know "changing" would require adding (by USmail), then deleting the previous account electronically. I'm adding a second account just in case the first one gets lost somehow (for example the account number has to be changed for some reason.)
I am glad I added my additional bank accounts online before they changed their policy require it be added via paper form with a signature gurantee. Although, they definitely did lock my account after I added the accounts and I had to call to get the account unlocked.
While getting my signature guarantee, I was surprised that the bank wanted a copy of a TD statement showing my TD account number. I wasn't prepared for that, thinking the guarantee was just guaranteeing my identity. In any case I mailed off my request so I'll see if it works.
I don't get it. I thought I just needed to add a checking/savings account to treasury direct and call it a day. What's this signature guarantee? Is this the one that I mentioned earlier where you have to find a bank manager to sign it?
When you want to add an additional bank account to an existing account you need to mail in a paper form, which requires a signature guarantee, usually obtained at a bank.
I just tried making an account and sadly, they locked it up and already want me to go somewhere have it signed and then mailed to MN.

I initially didn't give my ID because it said it wasn't required but it didn't go through, gave my ID info and it went through but only to get it instantly locked up.

This is gonna be annoying.

I've already heard several horror stories about this. Even one guy bringing in a bunch of phones and laptops to prove the treasury direct in front of an officer or what not.

Feels bad but I'm compelled to push through because I don't know any other way to have a similar backup plan if I don't go with ibonds.
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