We first wrote about I-Bonds in an article included with our November Newsletter available at:
I-bonds are a great place to park some extra money if you are worried about the short-term prospects for the stock market and are nervous that increasing interest rates will cause bond funds to decline in value too.
A Series I savings bond is a security that earns interest based on both a fixed rate and a rate that is set twice a year based on inflation. The bond earns interest until it reaches 30 years or you cash it, whichever comes first. NEWS: The initial interest rate on new Series I savings bonds is 5.27% percent through April 30, 2024.
More information on I-Bonds is available at: https://treasurydirect.gov/indiv/products/prod_ibonds_glance.htm