The fixed rate holds, but inflation-adjusted rate is lower
- New Series I bond rate drops to 4.28%
- Consider your strategy for buying I-bonds
- Track economic conditions for the next six months
- Consider trading up to a higher fixed rate in 2024
- Enjoy inflation protection for the future
The rate for new purchases of Series I bonds has dropped to 4.28%, down from 5.27%. Savers face a difficult choice as they chase after the best yield for their savings. However, I-bonds still offer great principal protection for long-term savers. If you have $10,000 left to purchase on your annual limit, consider your strategy for when to buy. The I-bond rate is composed of a fixed rate and an inflation-adjusted rate, which reset every six months. If you missed out on buying at the previous rate, you might want to wait and track economic conditions for the next six months. If the rate looks like it will drop again, you can purchase at the 4.28% rate. If it looks like it will bounce higher, you can wait until after Nov. 1. Those who purchased I-bonds at their peak inflation rates might want to consider trading up to a higher fixed rate in 2024. By doing so, you can enjoy inflation protection for the future.
Factuality Level: 3
Factuality Justification: The article provides information about Series I bonds and how their rates are composed of fixed and inflation-adjusted rates. It also gives some advice on when to purchase these bonds based on economic conditions. However, the article contains unnecessary details, tangential information, and personal opinions presented as facts. It lacks depth and could be more concise and focused on the main topic.
Noise Level: 3
Noise Justification: The article provides relevant information about Series I bonds, including the current rate, factors affecting the rate, and strategies for savers. It offers actionable insights for readers interested in purchasing I-bonds and explains the implications of waiting or buying at the current rate. The article stays on topic and does not contain irrelevant information. However, it could benefit from more data or examples to support its claims.
Financial Relevance: Yes
Financial Markets Impacted: The article discusses Series I bonds and their rates, which may be of interest to savers and retirees.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article primarily focuses on the rates and strategies related to Series I bonds, without mentioning any extreme events or significant financial impacts.
Key People: Jeremy Keil (I-bond watcher), Beth Pinsker (Author)
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