The Treasury Department created 30-year I bonds in 1998 as a hedge against inflation for everyday long-term savers.to I bond returns: a fixed rate and a variable rate, which changes every six months based on the Consumer Price Index. The value of an I bond doesn't decline, and rates won't drop below zero.
While the I bond's annual rate is currently 3.54% through October 2021, the Treasury will announce a new yield in November, and it may be higher or lower.Although I bond interest doesn't incur state and local taxes, investors still owe federal levies, unless they use the money forI bonds may work for risk-averse investors to diversify the bonds in their portfolio, said Virag Shah, portfolio strategist at Van Leeuwen Company in Princeton, New Jersey.
When the stock market dips, retirees may need access to cash, making I bonds less attractive, said Edwards.
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