You can name only one beneficiary on a savings bond. If you’d like to name two or more beneficiaries, you have to split your bond into multiple parts.
It’s possible to cash out I Bonds tax free for college expenses or transfer to a 529 plan but you must meet an income limit and some other requirements.
Consider investing in TIPS for inflation protection after maxing out I Bonds. They have no purchase limit, and you can invest through a mutual fund or ETF.
Do this trick when you buy I Bonds and use a secure password stored in a password manager instead of the virtual keyboard on the TreasuryDirect website.
You can report accrued interest from your I Bonds every year but it gets complicated in real life. Keep it simple and go with the default.
I Bonds offer a better yield than all other safe investments. After you max out your annual limit, you can buy another $5,000 by overpaying your taxes.
When you open a TreasuryDirect account to buy I Bonds, sometimes you need a signature guarantee. Ask nicely at a bank, a credit union, or a broker.
You set a second owner or beneficiary when you buy I Bonds in TreasuryDirect. You can still add a joint owner or change the beneficiary at any time.
I Bonds bought as a gift counts toward the recipient’s purchase limit. Buying as gift for your spouse works when the high interest rates are only temporary.
You can buy another $10,000 in I Bonds per calendar year in the name of your business but they will be subject to judgments against the business.
You can buy I Bonds in your kid’s name but you should first decide whether to add to their 529 plan or keep full control of the money in your own name.
Series I savings bonds (I Bonds) are the best bonds you can buy at the moment. Follow this guide for a complete walkthrough from start to finish.