Rethink Your Emergency Fund for 2022 | I Bonds Explained
Given rising inflation, finding an effective way to protect your cash becomes all the more important. I Bonds from Nov 2021 to May 2022 give you 7.12% interest guaranteed from the government! This video talks about creating a bullet-proof emergency fund balancing liquidity and returns. Enjoy!
More info about ibonds here:
https://www.treasurydirect.gov/indiv/...
I Bond interest rate is a combination of a fixed rate (standard for 30 years) and a variable rate (changes every 6 months). You can buy them through Treasury direct, upto $10,000 per person per year and an additional $5k using tax refunds.
They are low risk, inflation resistant, flexible and tax friendly. Currently, Ibonds are the best place for medium term savings (1-5 years). It does mean tracking another account and some uncertainty about future rates.
Building out a hybrid position - a portion in savings accounts that is easily accessible and a portion in ibonds is a very effective strategy. There's also a bonus tip in there at the end!
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DISCLAIMER:
1. The advice provided in this video is for informational/entertainment purposes only. The creators take no responsibility for any actions or decisions you may take based on the contents of the video. Please consult a professional for strategies related to your specific needs.
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