Financial advice?

[Hammerdown]

where are you finding this rate? I am seeing rates <1% from most financial institutions currently

help a brother out?

I believe he is an Edward Jones Financial Advisor.

[Balcones_Walker]

iBonds

[muzzlebrake]

Just send that money to me and I will save it for you.

[Dejashoot]

https://personal.vanguard.com/us/FixedIncomeHome

Vanguard is showing brokered CD’s at 3.75 for 12 Mo

[eradicator]

https://personal.vanguard.com/us/FixedIncomeHome

Vanguard is showing brokered CD’s at 3.75 for 12 Mo

What's standard commission for a 12 month CD these days?

[txbowhunter08]

Series I treasury bonds are yielding 9.62% through 10/31/22, and with the way inflation is going right now, I don't see that coming down too much when the new 6 month rate is released in November. Big negative is that you can only do $10,000 per SSN in your household per year. But, if you have a couple kids, that could be a pretty good chunk of change.

Edited to include link if you'd like more information.

https://www.treasurydirect.gov/indiv...bonds_ibuy.htm

Is the interest taxed as just income? Or is it a higher tax bracket? 9% return is good numbers but just wanted to make sure I’m not missing anything since my time line is 3-5 years!

[91cavgt]

Check some of your local credit unions as well as they pay dividends and will likely offer a lower interest rate when you purchase your land.

This.


I contacted my local credit union in regards to a future land purchase. They were able to tell me what I needed to do in order to get a better rate and better odds of approval. Part of the recommendation was to setup monthly auto deposits into the account I’ve got with them as well as opening up a credit card through them.

[jaspermac]

Are you talking $30,000 or $300,000 or somewhere in the middle?

Max out I bonds each year for you and your spouse is great option

[Saltyag15]

Is the interest taxed as just income? Or is it a higher tax bracket? 9% return is good numbers but just wanted to make sure I’m not missing anything since my time line is 3-5 years!

It is just taxed as ordinary income.

[jbw899]

I bonds

[Eat’em Up]

3-5 years, you will kick yourself if you don’t put it in the market. Unfortunately 3.5% is going backwards when inflation is 8+%. Find a good index fund and put what you can in it. If you need money in 6-12 months a CD maybe the best option. Historically the market recovers losses fairly quickly.

[txbowhunter08]

I have maxed out my ibonds for this calendar year! Wanted to make sure i understood correctly, So now i can have my wife create a account and max hers out correct?

[TeamAmerica]

Vanguard short term Bond or treasury fund.