Really OT!...Back on 2-26 I filed our 2021 tax return...:REALLY OT!

Botch

RRP said:

Let’s see if I can try to explain why what I did that some of you think I was so stupid doing in having  overpaid my final 2021 quarterly tax payment on 1-17-22.

There are only 2 ways to acquire iBonds which are limited per year. One is an outright purchase and the other is an option to purchase these iBonds in lieu of receiving a cash refund.

Today’s highest yield on 2 yr treasury notes was 3.431%

Today’s 30 year treasury bond yield was 3.277%

iBonds also issued by the U.S. Treasury are now paying 9.62%

iBond rates are adjusted twice a year to inflation predictions, so they aren’t subject to the same daily market whims and drastic swings. As for safety? Well if the USA tanks are the dollar values of your other investments safe?

Thanks much, Ron.  I just recently learned of iBonds, but they have a limit on how much you can buy into which didn't help my issue.
 
When Mom's house sold two years ago I put that money into a (not very good) temp investment, and was just waiting for the DOW to crash.  I've had a big chunk of change to invest twice before in my lifetime, and the DOW crashed, big-time, immediately after I invested those chunks; just once I'd like to do it the opposite way.  
But, two years later, inflation keeps nibbling at my poor investment, and the DOW has soared up until a week or so ago.  The Fed will be making an interest rate announcement either tomorrow or Thurs, I need to be making a move soon, if nothing else to quit worrying about it.  

RRP

HeavyG said:

RRP said:

Let’s see if I can try to explain why what I did that some of you think I was so stupid doing in having  overpaid my final 2021 quarterly tax payment on 1-17-22.

There are only 2 ways to acquire iBonds which are limited per year. One is an outright purchase and the other is an option to purchase these iBonds in lieu of receiving a cash refund.

Today’s highest yield on 2 yr treasury notes was 3.431%

Today’s 30 year treasury bond yield was 3.277%

iBonds also issued by the U.S. Treasury are now paying 9.62%

iBond rates are adjusted twice a year to inflation predictions, so they aren’t subject to the same daily market whims and drastic swings. As for safety? Well if the USA tanks are the dollar values of your other investments safe?

And lastly if you feel inflation is going  to be tamed within years I do have to disagree and wish you the best!

So am I correct to assume that you are also buying the $10K limit directly and then just using the tax refund approach to buy more bonds up the the $5K limit?

BINGO - at my advanced age then accumulating even $15K chunks annually this way is a painless way rather than to roll over some  lousy. .10%  CD vs 9.62% USA. backed  instrument!

Grannted…just like the many oak and maple trees that I have planted here over the passed 43 years I doubt I will never benefit from their shade, but hopefully some one will!

Wooderson

Still waiting on mine also.   I'm beginning to think the post office lost ours.  Mailed March 15th, state taxes were processed within 2 weeks.  The government is really busy right now so i can understand.............

RRP

Finally here on Oct 10th - nearly 8 months later the IRS says they will be sending my refund on Oct 17th!

If any of you eggers want to be a participant in the 30 year iBond program I would suggest that you SKIP the frustation available via the tax refund approach! Here after I swear I will NEVER EVER OVERpay my taxes so EVERY tax return will require a payment! "They" can cash my check whenever, but waiting for MY refund...HA - NEVER AGAIN!!!