I Bond, iBonds, i-Bonds or Series I bonds.
- lcha
- pjstack
- pjstack
- pjstack
- pjstack
- JO7671
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» lcha - Bond tracking
Also on the Treasury Direct site is a nice program for keeping track of all the savings bonds and their earnings one might accumulate.A few weeks ago my Father-in-law used this program to organize his 150+ savings bonds dating back almost 30 years. He discovered $15,000 in these bonds he didn't realize he had! He then promptly went out and bought a new minivan.
-- posted by lcha
» pjstack - Re: $30K: I Bond Purchase Limitation
In response to message posted by Kirk:Actually, you can buy more than $30K per year:
1.) You can buy $30K via your credit card (the treasury is planning to kill this option at the end of this year.) (Sob!)
2.) You can buy $30k through Treasury Direct. These are "paperless" bonds and are kept in ledger form. It is done via direct deposit from your bank. This is a different program than the credit card purchase program.
3.) And finally, for those of you (not me!) who are well heeled enough to want to buy another $30K, you can register them in the name of your living trust! Yes, it's the same social security number, but the treasury considers it a different entity.
So, that's $90K per year! And, that's just for you! If you are married your spouse can sock away another $90K!
Since the credit card option may be going away at the end of this year (the treasury wants to go "paperless"), this may be the only year you can buy $90K in one year.
Phil S.
-- posted by pjstack
» pjstack - No, really!
In response to message posted by Kirk:The treasury is trying/planning to eliminate the credit card option. Actually, they are trying to eliminate selling "paper" bonds. They want to go the treasury direct "paperless" route. They say that they are going to eliminate credit card purchases at the end of the year.
Maybe they are just trying to push the new "paperless" bond system, or whatever, but you can buy $30K via credit card and buy $30K via treasury direct (automatic debit from your bank account) in the same year. This year, anyway. Yes, it's legal! They say so!
If they really go "paperless" next year, then the credit card option is over. (Sob!)
Phil S.
-- posted by pjstack
» pjstack - A reference you can check.
For those of you who can read Government-Speak:According to Sec. 360.11 Computation of amount of the regulations governing Series I Savings Bonds the general rule is: "The purchases of bonds in the name of any person in an individual capacity are computed separately from purchases in a fiduciary capacity, e.g., as representative for the estate of an individual."
The URL: http://frwebgate.access.gpo.gov/cgi-bin/...
Whew! That's a mouthful!
Phil S.
-- posted by pjstack
» pjstack - Re: More Credit Card Info
In response to message posted by Kirk:Thanks for posting the above message.
I'm going to be sort of sorry to see the paper bonds discontinued. I've been buying them as a ready and simple source of cash for my beneficiary when I kick off.
I'm sure the paperless, ledger-type entries will be cheaper for the government and maybe even simpler for the buyer....but, I just know my computer will go down just when I need it!
(Sigh!) I guess this newfangled computer thing has caught on, after all.
Phil S.
-- posted by pjstack
» JO7671 - I Bonds
In response to message posted by Kirk:I'm thinging of liquidating my GNMA holdings, and putting them in ibonds instead.(DCA in smaller pieces, the 4.66% looks attractive for even part of my cash holdings)
Can they lose principal? (what I', not liking about VFIIX, whose yield just turned negative.)
Thanks
JFO
JFO
-- posted by JO7671
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