Here's a great way to save $ for your skoolie

[TheHubbardBus]

Thanks to inflation, federal savings bonds are a thing again. And i-series savings bonds, which are tied to inflation, appear to be a pretty good way to save some cash in the short term.

Right now, up through October, they start out paying 9.62% interest for the first 6 months, which reflects the current inflation rate. Every 6 months thereafter the rate is revised, again tied to inflation. So as long as inflation stays high, these will pay pretty decent. And even when it drops, these still should do much better than any savings account.

Interest is compounded semi-annually. You've gotta keep 'em for a year minimum before cashing out. If you cash out before 5 years, you lose the last 3 months interest. You can keep them as long as 30 years before being forced to redeem. They're exempt from state & local taxes. You're limited to $10,000 worth of electronically-issued i-bonds per person per year. Each person can also purchase another $5K of paper i-bonds via their federal income tax return. The smallest amount you can buy is $25. You can buy for yourself, or as gifts for others.

Here is the link to more info from TreasuryDirect, which is also the actual .gov website you can purchase them from. Happy Saving!

[BarnYardCamp]

only drawback is income tax, so even though the bonds are indexed to inflation you still lose...but still better than a sharp stick in the eye.

[TheHubbardBus]

True. But yes, much better than a sharp stick. Or a savings account. Or a shoebox. Or a CD.

[Jolly Roger bus 223]

caint say because i dont know and this was the 70's 80's and early 90's but my grandma paid for every car she got from her CD's.
i know its a different world now but my edward/jones isnt making any progress.
i am thinking of investing in silver and gold?