QA note: Eligibility Requirements - Live, work or worship in either San Diego, Riverside or San Bernardino counties. Or be an immediate family member of a current Frontwave Credit Union member.
That means they can change it at any time between now and when you actually buy it, meaning the rate could change tomorrow if they wanted to.
Once you've signed up, the rate you see will be what you get.
wish I could get this for my IRA right now. choppy waters ahead. anyone have suggestions for something similar for a retirement account?
Buy 6 month treasuries. They're almost yielding 5%. For a high earner in California, the avoidance of state tax almost makes treasuries competitive with this 6% CD (irrelevant for Roth).
Completely different but something else out there...
The composite rate for I bonds issued from November 2022 through April 2023 is 6.89%
A few things of note:
Rate is adjusted every 6 months and tied to rate of inflation.
Cap is $10k/year
Can only be purchased with cash or tax refunds (cannot use in IRA/401k).
Cannot redeem in first 12 months.
Penalty for redeeming before 5 yrs is the last 3 months of interest.
Get yourself some I bonds from TreasuryDirect.gov. Current rate is 6.89%. Redeemable after 12 months. Maximum of $10k electronic, $5k paper, though.
Ibonds will probably go way lower for the next 6 months, bringing the average for a year probably to a level of treasuries (4.7%). It's not as good of a deal as last year, especially with the lack of flexibility (no cash out for a year, 3 month penalty before 5 years etc, $10k limit per year etc).
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That means they can change it at any time between now and when you actually buy it, meaning the rate could change tomorrow if they wanted to.
Once you've signed up, the rate you see will be what you get.
Sign up for a Slickdeals account to remove this ad.
The composite rate for I bonds issued from November 2022 through April 2023 is 6.89%
A few things of note:
Rate is adjusted every 6 months and tied to rate of inflation.
Cap is $10k/year
Can only be purchased with cash or tax refunds (cannot use in IRA/401k).
Cannot redeem in first 12 months.
Penalty for redeeming before 5 yrs is the last 3 months of interest.
Buy treasuries at 4.7%
Ibonds will probably go way lower for the next 6 months, bringing the average for a year probably to a level of treasuries (4.7%). It's not as good of a deal as last year, especially with the lack of flexibility (no cash out for a year, 3 month penalty before 5 years etc, $10k limit per year etc).