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IBonds Good Deal

Southern California, CA

This is from the August 2011 magazine MONEY, page 22.

"I Bonds
The rate on government issued I Bonds, re-set twice a year to keep place with inflation, is currently a whopping 4.6% on an annualized basis, owing to the recent spike in gas prices (that's up from just 0.74% earlier this year). If you buy an I Bond before rates are adjusted again on Nov 1, 2011, you'll nab that 4.6% rate for the next 6 months; even factoring in the penalty for cashing in the bond before 5 years, you'd be guaranteed to earn minimum 2.3% if you pull your money out after 12 months, says Ken Tumin of Depositaccounts.com. And if the new rate is higher than zero, you'll earn more. :You can buy at TreasuryDirect.com or most banks...you cannot redeem for 12 months your investment is limited to 10,000 dollars annually (per social security number) (5,000 $ for treas direct and 5,000 $ at a bank)...buy now to earn at least 2.3% after 1 year."

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