I bonds, an inflation-protected and nearly risk-free investment, may soon pay an estimated 9.62% return. Here’s what to know before purchasing.
You may also buy more I bonds through businesses, trusts or estates. For example, a married couple with separate businesses may each purchase $10,000 per company, plus $10,000 each as individuals, totaling $40,000.One of the drawbacks of I bonds is you can't redeem them for at least one year, said George Gagliardi, a CFP and founder of Coromandel Wealth Management in Lexington, Massachusetts. And if you cash them in within five years, you'll lose the previous three months of interest.
Still, I bonds may be worth considering for assets beyond your emergency fund, Flis from Resilient Asset Management said. "I think that the I bond is a wonderful place for people to put the money they don't need right now," he said, such as an alternative to a one-year certificate of deposit.
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