How The I Bond Can Help You Inflation-Protect Your Savings

When the stock market is rocking and rolling, it can be hard to find other safe havens, but federal savings bonds are rarely a sexy investment. With red-hot inflation, you should consider a Series I savings bond. You can buy up to $10,000 per person (or corporation, if you have a business) electronically via TreasuryDirect. You get an additional $5,000 in a paper I bonds via your tax refund. The current rate on I bonds is 9.62% through October 31, 2022. The rate resets every six months based on inflation. The quoted rate is annual, so you earn half of that (4.81% currently) for the six months that rate is in effect.