Forget CDs. These super safe investments will protect you from inflation.
... [+]At a time when investors worried about inflation are considering putting money into everything from bitcoin to commodities, there’s an old fashioned—and uber safe and simple—way to keep at least some of your cash from losing value: U.S. Savings Bonds.
The U.S. Treasury announced yesterday that I bonds issued between now and the end of next April will earn interest at an annual rate of 7.12% over the first 6 months after purchase. That’s the second-highest initial interest rate ever for these bonds., with a minimum investment of $25, and a maximum of $10,000 per calendar year, per Social Security number. You can cash your bonds after a year, but you’ll lose three months worth of interest if you cash out before you’ve held them for five years.
In addition to the $10,000 limit, the bad news about newly issued I bonds is they won’t pay much if and when inflation does come under control, as the Biden Administration and the Federal Reserve are predicting. That’s because each I bond’s interest rate has two components — the inflation rate that adjusts every six months and a fixed rate designed to provide a return over inflation, that is constant for the whole 30 years.
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