How to buy I - Bonds

[Anonymous]

Anonymous wrote:

Anonymous wrote:Follow up ibond account question.

How do you set up an account for a child? It’s not $10k, but a couple hundred that’s sitting in a bank account. This is their money- $50 here or there over the years. We have separate MD 529 accounts.

I’ve looked at several posts, but i can’t find the correct answer. When you open up an account attached to the adult account, it asks for sole owner, primary owner, or beneficiary account. I selected beneficiary for one child, but then it said POD which I assume is payable on death. I don’t want that. I just want the couple hundred plus better interest to be available in five years.

Someone else asked this question. I think the answer is once you open up the linked account the child should be listed as the sole or primary owner because its their account. If you want a beneficiary on the account that should be a different person (child?).

Np. I also want to open account for my kids to give as college graduation gifts. (5 &6 years away.) Do they need to know about these when they turn 18?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Follow up ibond account question.

How do you set up an account for a child? It’s not $10k, but a couple hundred that’s sitting in a bank account. This is their money- $50 here or there over the years. We have separate MD 529 accounts.

I’ve looked at several posts, but i can’t find the correct answer. When you open up an account attached to the adult account, it asks for sole owner, primary owner, or beneficiary account. I selected beneficiary for one child, but then it said POD which I assume is payable on death. I don’t want that. I just want the couple hundred plus better interest to be available in five years.

Someone else asked this question. I think the answer is once you open up the linked account the child should be listed as the sole or primary owner because its their account. If you want a beneficiary on the account that should be a different person (child?).

Np. I also want to open account for my kids to give as college graduation gifts. (5 &6 years away.) Do they need to know about these when they turn 18?

Pp here. If kids have iBonds in their name will that impact their ability to get financial aid?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Follow up ibond account question.

How do you set up an account for a child? It’s not $10k, but a couple hundred that’s sitting in a bank account. This is their money- $50 here or there over the years. We have separate MD 529 accounts.

I’ve looked at several posts, but i can’t find the correct answer. When you open up an account attached to the adult account, it asks for sole owner, primary owner, or beneficiary account. I selected beneficiary for one child, but then it said POD which I assume is payable on death. I don’t want that. I just want the couple hundred plus better interest to be available in five years.

Someone else asked this question. I think the answer is once you open up the linked account the child should be listed as the sole or primary owner because its their account. If you want a beneficiary on the account that should be a different person (child?).

Np. I also want to open account for my kids to give as college graduation gifts. (5 &6 years away.) Do they need to know about these when they turn 18?

Legally, it's theirs at 18. Whether or not you tell them is your call. However, if you do a FAFSA, you will have to list these as their assets at which point an observant kid will know.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Follow up ibond account question.

How do you set up an account for a child? It’s not $10k, but a couple hundred that’s sitting in a bank account. This is their money- $50 here or there over the years. We have separate MD 529 accounts.

I’ve looked at several posts, but i can’t find the correct answer. When you open up an account attached to the adult account, it asks for sole owner, primary owner, or beneficiary account. I selected beneficiary for one child, but then it said POD which I assume is payable on death. I don’t want that. I just want the couple hundred plus better interest to be available in five years.

Someone else asked this question. I think the answer is once you open up the linked account the child should be listed as the sole or primary owner because its their account. If you want a beneficiary on the account that should be a different person (child?).

Np. I also want to open account for my kids to give as college graduation gifts. (5 &6 years away.) Do they need to know about these when they turn 18?

Pp here. If kids have iBonds in their name will that impact their ability to get financial aid?

Yes. Assets they directly have a higher weight when it comes to financial aid.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Follow up ibond account question.

How do you set up an account for a child? It’s not $10k, but a couple hundred that’s sitting in a bank account. This is their money- $50 here or there over the years. We have separate MD 529 accounts.

I’ve looked at several posts, but i can’t find the correct answer. When you open up an account attached to the adult account, it asks for sole owner, primary owner, or beneficiary account. I selected beneficiary for one child, but then it said POD which I assume is payable on death. I don’t want that. I just want the couple hundred plus better interest to be available in five years.

Someone else asked this question. I think the answer is once you open up the linked account the child should be listed as the sole or primary owner because its their account. If you want a beneficiary on the account that should be a different person (child?).

Yes, open up a linked account. You have to add all their information. Then once you create their linked account, when you look at your account, on the bottom there will be a section for Linked accounts. You kid or whatever should be there. Click on your kid and that will open up the kid's page. You can then click buy bonds directly.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Follow up ibond account question.

How do you set up an account for a child? It’s not $10k, but a couple hundred that’s sitting in a bank account. This is their money- $50 here or there over the years. We have separate MD 529 accounts.

I’ve looked at several posts, but i can’t find the correct answer. When you open up an account attached to the adult account, it asks for sole owner, primary owner, or beneficiary account. I selected beneficiary for one child, but then it said POD which I assume is payable on death. I don’t want that. I just want the couple hundred plus better interest to be available in five years.

Someone else asked this question. I think the answer is once you open up the linked account the child should be listed as the sole or primary owner because its their account. If you want a beneficiary on the account that should be a different person (child?).

Yes, open up a linked account. You have to add all their information. Then once you create their linked account, when you look at your account, on the bottom there will be a section for Linked accounts. You kid or whatever should be there. Click on your kid and that will open up the kid's page. You can then click buy bonds directly.

I did all that in my initial post. I just don’t know if I’m supposed to select sole owner or primary account. Maybe it doesn’t matter?

[Anonymous]

This is a silly question but where do you keep these bonds? Does Treasury just hold them and you can buy and sell online? I’m assuming they aren’t paper.

[Anonymous]

Anonymous wrote:This is a silly question but where do you keep these bonds? Does Treasury just hold them and you can buy and sell online? I’m assuming they aren’t paper.

You buy them at Treasury Direct online. You can get paper bonds up to $5000 as your tax refund too. I convert my paper bonds into electronic to keep things simple.

[Anonymous]

Hey, anybody knows the deadline for Ibond purchases? Couple days ago I scheduled purchase to be made on 10/31/22, got confirmation.
Now I'm getting worried due to all tsome news storing citing 10/28/22 as a deadly.
Am I good for current rate, or should reschedule tonight (assuming I can get into website)

[Anonymous]

Anonymous wrote:Hey, anybody knows the deadline for Ibond purchases? Couple days ago I scheduled purchase to be made on 10/31/22, got confirmation.
Now I'm getting worried due to all tsome news storing citing 10/28/22 as a deadly.
Am I good for current rate, or should reschedule tonight (assuming I can get into website)

Website is already warning newly submitted purchases might not go through. I’d try to get in to schedule tonight and if it goes thru then you can cancel the 10/31.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Hey, anybody knows the deadline for Ibond purchases? Couple days ago I scheduled purchase to be made on 10/31/22, got confirmation.
Now I'm getting worried due to all tsome news storing citing 10/28/22 as a deadly.
Am I good for current rate, or should reschedule tonight (assuming I can get into website)

Website is already warning newly submitted purchases might not go through. I’d try to get in to schedule tonight and if it goes thru then you can cancel the 10/31.

Can't get to website already, want to read fine print on the transaction date.
Everything I'm reading suggests 10/28 deadline so that purchases can be settled next business day, and confirmation should be received by 10/28.
Well, I've already have the confirmation with 10/25 date, but withdrawal was scheduled for 10/31.. Oh well. I guess I'm going to learn soon enough

[Anonymous]

Widespread outages were reported yesterday and I could not access the site.

Just created accounts and purchased iBonds for my kids, one over 18 and the other a minor, without too many resubmits.

PSA.. if anyone wants to try.

[Anonymous]

Damn all you procrastinators - now I can't get into the site. I purchased my 100K of I bonds earlier in the year (there's no 10K limit - you just spread it across personal, business and trust accounts), but now I want to buy some short-term T-bills. I can't even get into the Treasury Direct site. The interest rate has been super-high for like a year - why is everyone waiting until now??

[Anonymous]

Anonymous wrote:Damn all you procrastinators - now I can't get into the site. I purchased my 100K of I bonds earlier in the year (there's no 10K limit - you just spread it across personal, business and trust accounts), but now I want to buy some short-term T-bills. I can't even get into the Treasury Direct site. The interest rate has been super-high for like a year - why is everyone waiting until now??

I just bought some this morning. No issues.

[Anonymous]

I had no problem logging in on the mornings this week but issues in the evenings. I placed gift purchases yesterday that went through this morning at current rate. I would guess orders placed today may not get current rate.

PP why don’t you just buy the T bills through your brokerage? I don’t want anything but ibonds stuck in TD.