Word: bondses
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But the Treasury, as it ponders how to get the word out on its new savings-bond programs, would do well to address some old problems first. The main one: some $6.5 billion of savings bonds are no longer accruing interest because they are 30 or 40 years old. Yet...
--If you plan to buy I-bonds, do it before Nov. 1, when yields get reset. I-bonds have two elements: a guaranteed 3.3% interest rate and the rate of inflation, last counted at 1.75% (for a total 5.05% yield). The inflation rate is going higher, and will be applied...
--Americans forfeit $150 million a year by mistiming sales. Savings bonds bought before May 1995 pay interest only twice a year. The best time to redeem them is immediately after interest has been credited.
--The last savings bonds you should sell are any bought between October 1994 and April 1995. At the five-year mark, they carry an unusual one-time kicker that amounts to six months of interest at 16%.
See time.com/personal for more on savings bonds. E-mail Dan at kadlec@time.com See him on CNNfn, Tues., 12:45 p.m. E.T.