I heard Clark talk about how great getting I bonds are right now. Does it make sense for us to get one if we are going to retire in 1-3 years?
I think your money does get locked up for 1 year, so there’s that. My plan is use them instead of bank savings as much as possible for the rest of my life. But you can only buy $10,000 a year, that’s not much to retire off of if you’re trying to accumulate over the next 1-3 years. They are a nice investment but they’re not magical.
Oh, we have 401K’s and a pension. I should have actually asked, if we would be able to take out after a year or so.
Details are all at TreasuryDirect.gov which is the only place you can buy and manage them. It’s important for you to get the info you need from the source and read it yourself… not get it second-hand and interpreted by people like me.
You can get another $5K a year by requesting I-Bonds as part of your FIT withholding refund.
An additional excellent source of information about I bonds is the Finacial Bluff web site.
The detailed article includes screen shots to help with the process of purchasing I bonds.