Picking up Nickels

Friday, December 01, 2006

Time to cash in September issue I Bonds

I continued my I Bond liquidation today and cashed in the I Bonds that I bought in September 2003.

Since I haven't held them for the required minimum of five years, I had to forfeit the last three months worth of interest. I cashed them in today because I end up sacrificing three months worth of interest at 2.11%, while keeping all interest earned at the previous rate of 6.83%.

Since I moved some cash to 6% CDs when they were more readily available, I began cashing in my I Bonds in October due to the low rates that they are currently earning. My October 2003 and 2005 I bonds are the only ones I have left, and I will be cashing them in on January 1st.

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