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☆ Treasury Department announces new Series I bond rate of 4.28% for the next six months
▼ + stars: | 2024-04-30 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +2 min

Jitalia17 | E+ | Getty ImagesHow I bond rates workThere are two parts to I bond rates — a variable- and fixed-rate portion — which the Treasury adjusts every May and November. Based on inflation, the variable rate stays the same for six months after purchase, regardless of when the Treasury announces new rates. There are no state or local levies on interest and you can defer federal taxes until redemption. What's the interest rate from May 1 to Oct. 31, 2024? $10,000 per person every calendar year, plus an extra $5,000 in paper I bonds via your federal tax refund.

Persons: Jeremy Keil, Keil, there's, Will Organizations: Treasury, Keil Financial Partners Locations: Milwaukee

☆ Where Will CD Rates Go in 2024?
▼ + stars: | 2023-11-29 | by ( Mallika Mitra | ) www.wsj.com time to read: +7 min

Interest rates that banks pay on certificates of deposit are closely tied to short-term interest rates set by the Federal Reserve. Now that the inflation rate has come down, many investing pros see two possible outcomes for interest rates in 2024: one in which the Fed has little choice but to cut rates steeply, and another in which the Fed can cut rates modestly. Either scenario would eventually result in CD rates decreasing, since rates on CDs tend to quickly follow Fed moves. Where will CD rates go in 2024? But if investors are correct that rate cuts are coming, those high CD rates will come down over the next few years, too.

Persons: Mallika Mitra, “, ”, Lili Vasileff, Leslie Falconio, “ They’re, you’ll, you’re, Jeremy Keil, ” Keil, Keil, “ You’ve, Ally Organizations: Federal Reserve, UBS, Wall, Federal Credit Union, Minnequa Works Credit Union, Federal Deposit Insurance Corporation, National Credit Union Administration Locations: Greenwich, Conn, U.S, Milwaukee, APYs

☆ Rates may have hit their peak. How to get the biggest bang out of cash heading into 2024
▼ + stars: | 2023-11-27 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +5 min

"It's important to keep sharing this idea to do something with your cash; these rates won't be here forever." Municipal money market funds Rather than tying up money in CDs or T-bills, Sachs prefers municipal money market funds for investors in the highest income tax brackets. Vanguard's Municipal Money Market Fund (VMSXX) has a 7-day SEC yield of 3.53% and carries an expense ratio of 0.15%. Residents in high-tax locales may also want to consider state-specific muni market funds, which have the additional benefit of providing income that's free of state taxes. For instance, there's the Vanguard California Municipal Money Market Fund (VCTXX) and the Fidelity New York Municipal Money Market Fund (FSNXX) .

Persons: –, Catherine Valega, Sallie Mae, Jeremy Keil, Keil, There's, Charles Sachs, Kaufman, Sachs, Michael Bloom Organizations: Federal, Green Bee, Synchrony, Financial, Keil Financial Partners, Federal Deposit Insurance Corp, FDIC, ., CFP, Money Market Fund, SEC, Residents, Vanguard, Fidelity New York Municipal Money Market Fund Locations: Winchester , Massachusetts, New Berlin , Wisconsin, Miami, Vanguard California

☆ Lock in CD rates of at least 4% for up to five years at these banks
▼ + stars: | 2023-09-22 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +2 min

Higher yields on savings won't last forever, but you can at least lock them in for the next few years. The Federal Reserve indicated Wednesday it would keep interest rates higher for longer, anticipating one more rate hike before the year ends. The developments bode well for income investors , who are seeing even higher yields on Treasurys, money market funds and certificates of deposit . It also raises an interesting conflict for investors : The richest rates are at the shorter end of the yield curve, but investors willing to commit some of their money can lock in higher rates for a couple of years. If you're ready to commit to five years, a handful of banks will pay upward of 4% in yield.

Persons: bode, Jeremy Keil, It's, — CNBC's Michael Bloom Organizations: Federal Reserve, Keil Financial Partners, Treasury, UBS, Frost Bank, Bread Financial

☆ How to maximize Series I bond redemptions amid falling inflation
▼ + stars: | 2023-08-11 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +3 min

Enes EvrenInvestors piled into Series I bonds amid record yields, and some are now eyeing an exit for higher-interest alternatives. After reaching 9.62% annual interest in May 2022, I bond yields have declined with falling inflation, reaching 4.3% interest for new purchases from May through October. However, the U.S. Department of the Treasury still needs two months of CPI readings before the next I bond rate change. "It's falling back in line with I bond inflation rates we had before the pandemic," said Ken Tumin, founder and editor of DepositAccounts.com. While longer-term investors may like the current 0.9% fixed rate portion of I bond yields, short-term investors may prefer higher-paying alternatives.

Persons: Enes, Ken Tumin, Jeremy Keil, Keil, Tumin, " Keil Organizations: U.S . Department of, Treasury, Treasury Department, Federal Reserve, Keil Financial Partners Locations: Milwaukee

☆ Treasury bills are still paying above 5%. Here's what to know before buying
▼ + stars: | 2023-07-27 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +2 min

"You don't really know truly what the rate is going to be until the auction hits," Keil said. How to buy T-bills through TreasuryDirect 1. Log in to your TreasuryDirect account. The benefit of brokerage accountsOne way to avoid liquidity issues is by purchasing T-bills through your brokerage account, rather than using TreasuryDirect. Keil said the "biggest benefit" of using a brokerage account is instant access to T-bills and immediately knowing your yield to maturity.

Persons: Treasurys, you'll, Keil, you've, Goldman Sachs Organizations: Getty, U.S . Department of, Treasury Locations: TreasuryDirect

☆ YOUR MONEY How to get high rates to work for you
▼ + stars: | 2023-07-17 | by ( Chris Taylor | ) www.reuters.com time to read: +4 min

July 17 (Reuters) - There is no doubt that higher interest rates are hard on a many people – especially if you are taking out a loan on a home or a car, or are struggling to catch up with credit-card debt. But for some, steep interest rates are not actually bad news. In fact, 38% of people say they have benefited from higher interest rates during the past year, according to a new survey from Allianz Life Insurance. “That’s the dichotomy: Higher interest rates are both crushing some people and benefiting others at the same time,” says Kelly LaVigne, vice president of Consumer Insights for Allianz Life. That means if you have some savings set aside, it is time to think about how to flip this negative of higher interest rates into a positive.

Persons: “, ”, Kelly LaVigne, Amy Arnott, Morningstar, Arnott, Rowe, Baird, Jeremy Keil, Keil, George Gagliardi, Lauren Young, Aurora Ellis Organizations: Allianz Life Insurance, Consumer, Allianz Life, U.S . Federal Reserve, Morningstar, FDIC, Bills, CIT Bank, BMO Alto, Citizens, Financial, Thomson Locations: New Berlin , Wisconsin, Toronto, Lexington , Massachusetts

☆ Here's how to buy Treasury bills as yields top 5%
▼ + stars: | 2023-06-01 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

Treasury bill yields have climbed over the past few months, with one-month to one-year terms currently topping 5%, as of June 1. However, there are a few things for everyday investors to know about the Treasury bill purchase process, according to financial experts. Treasury bills, or T-bills, have terms of four weeks to 52 weeks and are backed by the U.S. government. For example, let's say you purchase $1,000 worth of one-year T-bills at a 4% discount, with a $960 purchase price. To calculate your coupon rate (4.16%), you take your $1,000 maturity and subtract the $960 purchase price before dividing the difference by $960.

Persons: Jeremy Keil Organizations: U.S ., Investors, Finance, Federal, Keil Financial Partners Locations: Milwaukee

☆ Here's the best time to redeem Series I bonds to maximize your interest
▼ + stars: | 2023-05-10 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +2 min

Meanwhile, annual inflation rose to 4.9% in April, the smallest jump in two years, the U.S. Bureau of Labor Statistics announced Wednesday. But after a series of interest rate hikes from the Federal Reserve, alternatives like Treasury bills, certificates of deposit or money market accounts have emerged as competitive options for cash. "You lose that last three months of interest," said Ken Tumin, founder and editor of DepositAccounts.com. watch nowIf you're selling I bonds within five years, it's easy to get confused by how much interest you're giving up. (You can find the rate by purchase date here and rate change by purchase month here.)

☆ 4 of the best places for cash as the Federal Reserve weighs a pause in interest rate hikes
▼ + stars: | 2023-05-06 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +4 min

Hero Images | Hero Images | Getty ImagesWhether you're building an emergency fund or short-term savings, finding the best place for your cash isn't easy — especially as the Federal Reserve weighs a pause in interest rate hikes. The central bank on Wednesday unveiled another quarter percentage point interest rate increase, with signals that it may be the last. But higher yields are still available for those "willing to shop around," said Greg McBride, chief financial analyst at Bankrate. While the average savings rate is still below 0.5%, some of the top high-yield online savings accounts are paying over 4%, as of May 4. However, CDs are generally less liquid than savings accounts because you may owe a penalty for cashing out before the term ends.

☆ 'Bond ladders are cool again,' says advisor. Here's how to capture higher Treasury bill yields
▼ + stars: | 2023-02-27 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

If you're eager to capture higher yields amid rising interest rates, you may consider a Treasury bill ladder, depending on your goals, according to financial experts. Backed by the U.S. government, Treasury bills, or T-bills, are widely considered a relatively safe asset, with terms of four weeks to 52 weeks. When one expires, you can reinvest the funds for a higher yield, which may be appealing as interest rates rise. More from Personal Finance:Here's how to buy Treasury bills as some yields reach 5%Some Treasury bills are now paying 5%. As of Feb. 27, six-month and 1-year Treasury bills were both paying over 5%.

☆ Here's how to buy Treasury bills as some yields reach 5%, according to financial experts
▼ + stars: | 2023-02-24 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

With some Treasury bills now offering 5%, the assets have become more appealing to investors. Backed by the U.S. government, Treasury bills, or T-bills, are nearly risk-free, with terms of four weeks to 52 weeks. More from Personal Finance:Some Treasury bills are now paying 5%. For example, let's say you purchase $1,000 of one-year T-bills at a 4% discount, with a $960 purchase price. To calculate your coupon rate (4.16%), you take your $1,000 maturity and subtract the $960 purchase price before dividing the difference by $960.

☆ When it makes sense to buy extra paper Series I bonds with your tax refund, according to experts
▼ + stars: | 2023-02-06 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +3 min

Jetcityimage | Istock | Getty ImagesIf you're trying to max out the yearly purchase limit for Series I bonds, your tax refund offers an opportunity to buy even more. While the annual purchase limit is generally $10,000 per person for electronic I bonds, you can buy another $5,000 in paper I bonds with your tax refund. Buying paper I bonds with your tax refund may make sense if you're eager to purchase as much as possible, said Ken Tumin, senior industry analyst at LendingTree and founder of DepositAccounts.com, a website that tracks I bonds, among other assets. Downsides of paper I bondsKeil said it's also important to consider the downsides of purchasing paper I bonds tied to your tax return. What's more, paper I bonds must be converted to electronic form before redemption.

I shared my finances with an advisor to get his advice for preparing for a recession. In addition to having a solid health insurance plan, Keil suggests looking into a plan that includes a health savings account. Another strategy Keil mentioned is that if you have an HSA but can cover a health expense out of pocket, do that and save the receipt. For example, some of my fixed costs include my rent payment, health insurance monthly premium, and utility bills (electricity, cable bills, etc.). Action step: Keil also recommends opening a Roth IRA since withdrawals of both contributions and earnings are tax-free once you turn 59 1/2.

☆ Investors bought nearly $7 billion in Series I bonds in October. Here's the best time to cash them in, experts say
▼ + stars: | 2022-11-14 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

If you're one of the masses of new Series I bond owners, there are a few things to weigh before cashing in your assets, experts say. You can't access the money for at least one year and there's a penalty for redeeming I bonds within five years. If you cash in your I bonds before that five-year mark, you'll lose the previous three months of interest. "You should only cash out when you don't like the interest [rate]," he said. Of course, you'll want to consider your goals, risk tolerance and timeline for the money when deciding whether to redeem.

☆ Demand for Series I bonds crashes TreasuryDirect site ahead of key deadline as investors try to secure 9.62% rate
▼ + stars: | 2022-10-28 | by ( Greg Iacurci | ) www.cnbc.com time to read: +6 min

Shapecharge | E+ | Getty ImagesInvestors crashed the Treasury Department website for Series I bonds on Friday as they clamored to lock in a record-high interest rate before a key deadline. Investors must buy I bonds and receive a confirmation email by Oct. 28 to lock in the 9.62% rate, according to TreasuryDirect. What a TreasuryDirect outage means for investorsAn outage on TreasuryDirect.gov — where investors purchase I bonds — may mean they're unable to complete an I bond purchase by Friday's deadline to secure the 9.62% rate. The Treasury Department is not planning to extend the deadline, a Treasury Department spokesperson said Friday. The site continues to "see customers successfully create accounts and purchase bonds at record levels," the spokesperson added.

☆ Your last chance to secure 9.62% annual interest for Series I bonds is Oct. 28
▼ + stars: | 2022-10-25 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +2 min

Insta_photos | Istock | Getty ImagesHow to estimate I bond rates for one yearThere are two parts to I bond rates: a fixed rate, which stays the same after purchase, and a variable rate, which shifts twice per year based on inflation. It's nice to know what interest rates you will get when you're committing to a 12-month lockup. Jeremy Keil Financial advisor at Keil Financial Partners"A short-term investor — somebody just wanting to put away cash — should definitely buy in October," he said. The downsides of buying I bondsWhile roughly knowing I bond rates for one year may be appealing, there are a few things to consider before buying, experts say. "The biggest downside is you are locked in for 12 months," Keil said.

☆ How to get the 'best of both worlds' for Series I bond interest rates before November
▼ + stars: | 2022-10-18 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +3 min

RyanJLane | E+ | Getty ImagesAfter a difficult year for the stock market, investors have poured money into Series I bonds, a nearly risk-free and inflation-protected asset that's paying a record 9.62% annual interest rate through October. While I bond rates shift twice yearly based on inflation, you can still lock in 9.62% annual interest for six months — as long as you complete the purchase by Oct. 28. You can estimate I bond rates for one yearThere are two parts to I bond rates: a fixed rate, which stays the same after purchase, and a variable rate, which shifts twice per year based on inflation. It's nice to know what interest rates you will get when you're committing to a 12-month lockup. "The biggest downside is you are locked in for 12 months," Keil said.

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