9 upvotes, 2 direct replies (showing 2)
View submission: Favorite High Yield Savings Account?
They are a great US savings vehicle and not well known (probably because they aren't new and never had a big marketing campaign behind them) but are an amazing option. Wall Street Journal called them the best kept secret hiding in plain sight or something similar earlier this spring https://www.wsj.com/articles/i-bonds-the-safe-high-return-trade-hiding-in-plain-sight-11622213324[1][2]
1: https://www.wsj.com/articles/i-bonds-the-safe-high-return-trade-hiding-in-plain-sight-11622213324
2: https://www.wsj.com/articles/i-bonds-the-safe-high-return-trade-hiding-in-plain-sight-11622213324
You purchase them at treasurydirect.gov and as I mentioned, the savings are tied up for one year, but between year 2 and year 5, you pay a 3 month interest penalty if you cash in before year 5 but at this return rate, you'd still come out ahead compared to online savings, and it is rock solid safe.
You're limited to purchasing $10K a year unless you take a tax return in Ibonds. That's the only downside I can find. :)
Spread the word! It's fun to tell the banks to go F off with their ridiculous 0.5% savings while they kill us with credit card interest.
Comment by [deleted] at 10/08/2021 at 17:42 UTC
1 upvotes, 0 direct replies
Thank you!
Comment by orbit_fire at 10/08/2021 at 13:22 UTC
3 upvotes, 0 direct replies
Is the site a little finicky? I’ve tried to get ibonds twice in the last month or 2. First time the site didn’t load at all, second I entered all my info and submitted and it got an error. Will try again soon.