Compared to a 26% loss on cash in savings accounts, between 1998 and 2022.
If you saved $10,000/year for the last 25 years, your $250,000 savings, after interest and inflation, would have returned:
$1.1 trillion was lost in purchasing power of savings accounts in 2022, due to high inflation and low interest rates offered by banks.
Protect your savings from inflation with Series I Bonds.
Key facts:
- Current interest rate 5.27%, compounded semi-annually.
- Purchase limit min. $25 / max. $10,000 each calendar year.
- Subject to federal Income tax only, unless used for education.
- Earns interest based on combining a fixed rate and an inflation rate.
Cashing out:
- I bonds earn interest for 30 years unless you cash them first.
- You can cash them after one year.
- But if you cash them before five years, you lose the previous three months of interest. (For example, if you cash an I bond after 18 months, you get the first 15 months of interest.)
Switch your Bank with a Treasury account to save your cash from inflation.
Offered by the U.S. Department of the Treasury at https://www.treasurydirect.gov