Rising inflation has been bad for consumers with the escalating costs causing people on the financial edge to struggle even more.
But for investors who are looking for safety, inflation has been good for Series I Bonds, which the Treasury Department announced will be paying 9.62 percent until the end of October.
I Bonds can be purchased through October 2022 at the current rate. That rate is applied to the 6 months after the purchase is made. For example, if you buy an I bond on July 1, 2022, the 9.62% would be applied through December 31, 2022. Interest is compounded semi-annually.1
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LPWM LLC does not provide tax, legal or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisers.