Remember Savings Bonds? The Infamous Childhood Birthday Gift Is a Hot Investment Again
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Remember your fifth birthday? After unwrapping a small mountain of Legos and a Furby, your grandparents handed you an odd piece of paper, promising 20 years from now that "savings bond" would be worth twice as much. Then you promptly forgot about it. Well get ready, because bonds are back, baby!
… Sort of.
Government savings bonds never left of course. It’s just that their payout was so pitifully low that they lost their appeal. Now, though, those rates are starting to look a bit more attractive.
The Department of Treasury announced on Monday that Series I savings bonds will earn a composite rate of 3.54% over the next six months (up from 1.68%) and Series EE bonds will continue to earn 0.10%, both tracking inflation. Rates for savings bonds are adjusted every six months, so while the timing of the announcement is typical, the increased inflation rate for Series I bonds is a major signal of economic growth.
