+ augustus Posted June 29, 2022 Share Posted June 29, 2022 Just read on the news that the US Treasury has sold $14.4 billion in I bonds this year through mid-June 2022. That amount is 40 times as much as was sold in all of 2020. 1.5 million accounts have been opened in the last six months. Word has certainly gotten out. + Vegas_Millennial and Kevin Slater 2 Link to comment Share on other sites More sharing options...
+ augustus Posted June 29, 2022 Share Posted June 29, 2022 Also read that the Treasury Direct customer service line is overwhelmed with calls. They have 40 staffers and are getting more than 20,000 calls a week! And many people have to file a Form 5444 with a Medallion signature if Treasury cannot confirm your identity online using their own databases. It is getting more and more difficult to get a Medallion signature guarantee though. Link to comment Share on other sites More sharing options...
Kevin Slater Posted June 29, 2022 Author Share Posted June 29, 2022 49 minutes ago, augustus said: Just read on the news that the US Treasury has sold $14.4 billion in I bonds this year through mid-June 2022. That amount is 40 times as much as was sold in all of 2020. 1.5 million accounts have been opened in the last six months. Word has certainly gotten out. If not for this thread it would only have been 1,499,983! Kevin Slater + Vegas_Millennial, + augustus, mike carey and 2 others 2 3 Link to comment Share on other sites More sharing options...
+ PapaTony Posted June 30, 2022 Share Posted June 30, 2022 On 5/11/2022 at 3:06 PM, Beancounter said: https://www.treasurydirect.gov/indiv/research/indepth/ibonds/res_ibonds_iratesandterms.htm Color me stupid but I’ve followed this thread, been to the website but can NOT figure out how to actually complete a purchase / transaction. Link to comment Share on other sites More sharing options...
Beancounter Posted June 30, 2022 Share Posted June 30, 2022 https://www.treasurydirect.gov/indiv/myaccount/myaccount_treasurydirect.htm Hopefully this link will open to the page where you set up your account prior to purchasing an I-bond Link to comment Share on other sites More sharing options...
Beancounter Posted June 30, 2022 Share Posted June 30, 2022 46 minutes ago, PapaTony said: Color me stupid but I’ve followed this thread, been to the website but can NOT figure out how to actually complete a purchase / transaction. I posted the link for you to follow so you can open an account and purchase an I-bond. Link to comment Share on other sites More sharing options...
+ PapaTony Posted June 30, 2022 Share Posted June 30, 2022 17 minutes ago, Beancounter said: https://www.treasurydirect.gov/indiv/myaccount/myaccount_treasurydirect.htm Hopefully this link will open to the page where you set up your account prior to purchasing an I-bond Thank you. Beancounter 1 Link to comment Share on other sites More sharing options...
BeamerBikes Posted June 30, 2022 Share Posted June 30, 2022 6 hours ago, augustus said: Just read on the news that the US Treasury has sold $14.4 billion in I bonds this year through mid-June 2022. That amount is 40 times as much as was sold in all of 2020. 1.5 million accounts have been opened in the last six months. Word has certainly gotten out. Hopefully, US Treasury continues this, I may never look at a Savings Acct again. Invest majority in index funds, squirrel away for a rainy day filled with booze and strippers in the future... LOL + Vegas_Millennial and + augustus 2 Link to comment Share on other sites More sharing options...
handiacefailure Posted July 1, 2022 Share Posted July 1, 2022 On 6/29/2022 at 2:55 PM, augustus said: Also read that the Treasury Direct customer service line is overwhelmed with calls. They have 40 staffers and are getting more than 20,000 calls a week! And many people have to file a Form 5444 with a Medallion signature if Treasury cannot confirm your identity online using their own databases. It is getting more and more difficult to get a Medallion signature guarantee though. I wonder how people using an internet based bank get a Medallion stamp since there is no branch to walk into. My bank did it for me once when I was transferring stocks from one brokerage firm to another but thought the Treasury Direct required it be from the bank the account is at verifying you are a customer. Link to comment Share on other sites More sharing options...
+ augustus Posted July 1, 2022 Share Posted July 1, 2022 5 hours ago, handiacefailure said: I wonder how people using an internet based bank get a Medallion stamp since there is no branch to walk into. My bank did it for me once when I was transferring stocks from one brokerage firm to another but thought the Treasury Direct required it be from the bank the account is at verifying you are a customer. Exactly. You can't get it. The article mentioned people using an internet based bank and they can't get a Medallion stamp. You have to have an account at a bricks and mortar bank. Even then, some people are having trouble getting the stamp. I forget right now why. Some banks won't do it. Many people opening an account at TreasuryDirect are having problems because their identification cannot be verified by the Treasury's own databases, hence the need for the Form 5444. Link to comment Share on other sites More sharing options...
BeamerBikes Posted July 1, 2022 Share Posted July 1, 2022 Medallion stamps open the bank to additional liability. Notaries only attest that you are the person in front of the notary. Medallion stamps in my understanding attest that both the person is who they say they are AND the documents are in proper order - non-fraudalent. Hence Medallion stamps are so hard to get processed unless you are a customer of a brick/mortar branch. The bank wants a known way/contact information to put any liability back on the individual rather than eat it themselves as a cost of doing business. + augustus 1 Link to comment Share on other sites More sharing options...
Marvin-Dallas Posted July 2, 2022 Share Posted July 2, 2022 Hi Kevin, I am new to I-bonds. Can i still get the the 9.6% Interest rate if i buy less than 10k? i am thinking of doing in on Tues. July 5th. Thoughts? Please let me know. Thank you for the advise! Marvin. Link to comment Share on other sites More sharing options...
Kevin Slater Posted July 2, 2022 Author Share Posted July 2, 2022 2 hours ago, Marvin-Dallas said: Hi Kevin, I am new to I-bonds. Can i still get the the 9.6% Interest rate if i buy less than 10k? i am thinking of doing in on Tues. July 5th. Thoughts? Please let me know. Thank you for the advise! Marvin. Yup, the rate doesn't depend on the purchase size. Minimum investment is $50 ($25 if via a tax refund). Kevin Slater thomas 1 Link to comment Share on other sites More sharing options...
Marvin-Dallas Posted July 3, 2022 Share Posted July 3, 2022 Thank you for replying! I am planning to take $12,000 from my savings and buy I-bonds. I know you cant touch that money for at least 12 month.... but it's worth it. Link to comment Share on other sites More sharing options...
Kevin Slater Posted July 3, 2022 Author Share Posted July 3, 2022 35 minutes ago, Marvin-Dallas said: Thank you for replying! I am planning to take $12,000 from my savings and buy I-bonds. I know you cant touch that money for at least 12 month.... but it's worth it. The limit is $10k (plus another $5k if you apply a tax refund). Kevin Slater Link to comment Share on other sites More sharing options...
Beancounter Posted July 3, 2022 Share Posted July 3, 2022 24 minutes ago, Kevin Slater said: The limit is $10k (plus another $5k if you apply a tax refund). Kevin Slater It’s my understanding that you can buy another $10,000 if you have a trust as well. I have a revocable trust and would like to purchase an additional $10,000 within the trust. Will be researching this in the near future. Kevin Slater 1 Link to comment Share on other sites More sharing options...
+ FrankR Posted July 3, 2022 Share Posted July 3, 2022 53 minutes ago, Beancounter said: It’s my understanding that you can buy another $10,000 if you have a trust as well. I have a revocable trust and would like to purchase an additional $10,000 within the trust. Will be researching this in the near future. I’d look into that very carefully. I’m assuming this is a revocable living trust - those are associated with your social security number and don’t usually have a separate tax ID. You are unlikely to be able to double up (just like you can’t double up on an IRA contribution in a living revocable trust.) Link to comment Share on other sites More sharing options...
Beancounter Posted July 4, 2022 Share Posted July 4, 2022 (edited) 1 hour ago, FrankR said: I’d look into that very carefully. I’m assuming this is a revocable living trust - those are associated with your social security number and don’t usually have a separate tax ID. You are unlikely to be able to double up (just like you can’t double up on an IRA contribution in a living revocable trust.) It is a revocable trust. All my research at the treasury direct.gov website indicates that I can purchase $10,000 inside of a trust fund. I simply need to set up a separate account registering the trust. It can be registered using my personal social security number. I will call the customer service line to verify. I encourage you to visit their website to educate yourself about i-bonds. Edited July 4, 2022 by Beancounter Link to comment Share on other sites More sharing options...
handiacefailure Posted July 4, 2022 Share Posted July 4, 2022 16 hours ago, Beancounter said: It’s my understanding that you can buy another $10,000 if you have a trust as well. I have a revocable trust and would like to purchase an additional $10,000 within the trust. Will be researching this in the near future. I'd recommend listening to Suze Orman's Suze School podcast she did a couple months ago on IBonds. It was through her podcasts I learned about them last year and she dedicated a whole podcast to them recently and wish she would have done it last year, because I would have had my trust buy another $10K. I was always under the impression the trust had to have it's own TID and I found out through that show that isn't the case. I had no problems buying a second $10K Ibond in the name of my trust using my SSN and the same bank account account number associated with my other treasury direct account. According to their website, I'd be required to send in a copy of the trust showing it could buy securities but I was never asked for the info. Beancounter, + Vegas_Millennial and Kevin Slater 3 Link to comment Share on other sites More sharing options...
BuffaloKyle Posted July 4, 2022 Share Posted July 4, 2022 I'm going to buy another $10k worth when I'm allowed. So I bought mine in May and it says you can buy $10k per calendar year so can I buy another $10k in January 2023 or May 2023? Do you know @Kevin Slater? Link to comment Share on other sites More sharing options...
handiacefailure Posted July 4, 2022 Share Posted July 4, 2022 11 minutes ago, BuffaloKyle said: I'm going to buy another $10k worth when I'm allowed. So I bought mine in May and it says you can buy $10k per calendar year so can I buy another $10k in January 2023 or May 2023? Do you know @Kevin Slater? It's a calendar year so you would be eligible again on 1/1/23 to buy another $10K. And if you have a trust you can buy another $10K this year, you just need to open up another US Treasury account in the name of the trust even if it's the same SSN and bank account info. Talk to your estate lawyer if you don't have a trust set up. BuffaloKyle 1 Link to comment Share on other sites More sharing options...
Kevin Slater Posted July 4, 2022 Author Share Posted July 4, 2022 You can also bump your tax withholding (or overpay your estimates as I do) to ensure you'll have a $5k refund come April, and use that to buy additional Ibonds. Kevin Slater Link to comment Share on other sites More sharing options...
TheBx Posted July 8, 2022 Share Posted July 8, 2022 I looked into this and about to buy an I bond but I’m not clear on how and when the interest is paid or how long I’m required to hold onto the bond. Any insight? Thanks Link to comment Share on other sites More sharing options...
Kevin Slater Posted July 8, 2022 Author Share Posted July 8, 2022 1 minute ago, TheBx said: I looked into this and about to buy an I bond but I’m not clear on how and when the interest is paid or how long I’m required to hold onto the bond. Any insight? Thanks Both those questions are answered within this thread. Kevin Slater Link to comment Share on other sites More sharing options...
BuffaloKyle Posted July 10, 2022 Share Posted July 10, 2022 On 7/8/2022 at 2:55 PM, TheBx said: I looked into this and about to buy an I bond but I’m not clear on how and when the interest is paid or how long I’m required to hold onto the bond. Any insight? Thanks Watch this: https://www.cnbc.com/video/2022/06/23/personal-finance-expert-suze-ormans-number-one-investment-right-now.html TheBx 1 Link to comment Share on other sites More sharing options...
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