I-Bond Gifting 2023: Deliver Now Or Wait

I-Bond Gifting 2023: Deliver Now Or Wait | I-Bonds 2023

Рет қаралды 25,475

Жыл бұрын

Did you buy I-Bond gifts for your loved ones last year? What’s your I-Bond gifting strategy - when will you deliver those I-Bond gifts to your spouse, parent, friend, etc? Delivering I-Bond gifts in 2023 - that’s what today’s video is all about.
Here’s what I’ll cover:
✅ What question to ask yourself before delivery
✅ How the $10,000 annual limit works when delivering I-Bond gifts
✅ What recent anecdotal evidence I’ve received on this topic
✅ How to deliver your I-Bond gift (step-by-step)
✅ What our plans are for our I-Bond gifts
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Пікірлер: 115

@DiamondNestEgg Жыл бұрын

Thanks for visiting our personal finance channel! We hope this free content will help fast-track your financial journey! Everyone's financial journey is different. Please note that there are questions/ comments which I will not be able to answer without fully understanding your financial, personal & other circumstances. >>WATCH NEXT ⭐ Gifting I-Bonds (How To Buy More I-Bonds): kzfaq.info/get/bejne/mLmfja173ta3cYU.html ⭐ Four Reasons For Buying T-Bills In The Secondary Market: kzfaq.info/get/bejne/oZd5ebqJ0rC4gp8.html ⭐ Top Four Brokers For T-Bills: kzfaq.info/get/bejne/m9dma8R9mLi8qJc.html ⭐ My New $60,000 T-Bill Ladder: kzfaq.info/get/bejne/as2Rd9Z_vtLccWw.html ⭐ Brokered CDs vs T-Bills: kzfaq.info/get/bejne/sM51nNyIl7Sbe3k.html ⭐ T-Bill Rates, Pricing & Interest | High Rate vs Investment Rate: kzfaq.info/get/bejne/ocuVpc5ymb7FeZ8.html ⭐ T-Bill Auction Schedule | When You Can Buy New Issue T-Bills: kzfaq.info/get/bejne/rsCiaaiI0Lyup2Q.html ⭐ China & The Fed Are Dumping Treasuries - Should You: kzfaq.info/get/bejne/j92cpZN7zrq-fZ8.html ⭐ T-Bill Must-Knows: kzfaq.info/get/bejne/oK9yoZaHq9Gop2w.html

@cedarforest4621 Жыл бұрын

Great video! Have a question. How does the looming possibility of a government shut down and possible default on government debt effect your T-Bill strategy later in this year?

@kgwawers Жыл бұрын

I’m confused on the 3-month early withdrawal discussion. Are there two 3-month penalties: one for cashing in an I bond in the 1 to 5 year period, and another for delivering a gift to another person?

@mikebiase6710 Жыл бұрын

You are the Best ! I can't thank you enough for your excellent video's and enjoy you anniversary vacation !

@peiyun99 Жыл бұрын

Thanks so much, it’s really helpful.

@dbest4755 Жыл бұрын

Jennifer - another outstanding presentation, makes process very easy, thanks

@rodneyrchicago Жыл бұрын

Thank you for the great content as always!

@akzoc Жыл бұрын

Thx Jennifer for clarifying that we can Transfer a 10K gift IBond to the recipient with the interest it has earned ($10,080 in my case), without causing recipient to go over their 10k limit. That is very helpful. !!! 5:15 in the video. I assumed this was the case, but my friends were skeptical. It's odd that TD doesn't clarify this on their question/answer pages, since I and all my friends independently had the same question.

@paulhong732 Жыл бұрын

Thank u ❤

@hrhsophiathefirst4060 Жыл бұрын

This is perfect, we are going to start dribbling in the gift bonds at the end of this year unless the interest rate goes back up!

@alexadams1627 Жыл бұрын

Jennifer, I was just thinking ... how do I deliver the Ibond gift? Your video answered my question! Thank you for the video.

@mimichang7638 Жыл бұрын

Jennifer, you are a star!

@d.p.k.4176 Жыл бұрын

Thank you for the Great info on Saving. As the Fed is still raising rates and has not stop. I am think about Municipal bonds. What is the tax on treasury bond vs tax on municipal bonds? Which is better for taxes. When Fed Stop the raising Rate.

@user-if4bd2go7s 9 ай бұрын

Thank you for posting this information, as it is helpful. Can you please clear my confusion by answering this question. Question - Is the 3 months interest penalty applied/payed at the time we deliver the ibond gift to the recipient OR it is applied when our recipient actually cash the gift ibond after delivery? Looking forward to your earliest response.

@LVHoy Жыл бұрын

As long as it’s with someone you trust like two spouses gifting to each other it seems better to deliver the existing gifts that should be nearing the end of the one year holding period. Then gift another to each other again this year for next year delivery after that one year holding period is almost over.

@DiamondNestEgg Жыл бұрын

That is another option

@viselchakforyou Жыл бұрын

with CPI of only 0.1% down to 6.5% ove the year, is purchasing Ibonds this year still make sense? Will you have Ibond 2023 rate projections video soon? Thank you for your great videos

@user-oe5ek6jr9n Жыл бұрын

Jennifer, I have enjoyed this video and your smart comments. I have three questions: 1) When you deliver $10,000 in I-Bonds as a gift to a recipient plus accrued interest does that bond act the same as if it remained in the gifters account? 2) If the person getting the gift hold that for 5 years from purchase will they get the full interest due with no 3 month penalty? 3) If you gift the person a $10,000 I bond from your gift box can that person also buy an additional $10,000 in I Bonds in that year. You were planning to check on this.

@IwasRetired Жыл бұрын

Thanks, Jennifer. I'm planning to make partial gifts in 2023 to give us wiggle room to purchase I Bonds with a fixed rate. The goal will be for each of us to acquire $10K in principal through combination of gifts of the zero fixed rate bond and the 0.40%, and perhaps a higher fixed rate in November. The one definite for me is to sell to 2040 I Bonds with a fixed rate of 0.3%, because I will purchase some with a higher fixed rate in early 2023.

@scott1168 Жыл бұрын

Hi Jennifer. Been getting some decent value from your video posts. New subscriber. One question I have not seen addressed about I-Bonds involves the 3 month penalty. They appear to withhold the 3 months on the front end. Assuming that means we are missing out on compounding growth for the first 3 months of interest or is that recouped at the 5 year mark? My first interest amount shows up after 3 months and would start compounding then, missing out on the first 3 months of compounding for the life of I-Bond. Or am I missing something? Thanks for all you do. And thanks to your kids and husband for sharing your time 🙂

@monarene44 Жыл бұрын

They don’t hold it out on the front end. If you see your total accrued bond interest is $30 in Jan, $32 in Feb, $33 in March and $34 in April and then you cash it out in May you’ll lose $9 (nine dollars) of accrued interest in those last 3 months if you cash out the bond before 5 years.

@DiamondNestEgg Жыл бұрын

Hi Scott. Here’s the video that you’re looking for which will hopefully clarify things a bit. I’ll have an update video coming in a few days as well: I-Bond Interest Explained: When Does It Show Up & What's The I-Bond Calculator Formula? kzfaq.info/get/bejne/b86We9KEztCudZ8.html

@karenksin 7 ай бұрын

Hi Jennifer, thanks for the video. I have a question. If we do not have a rush to send the i bond gift. Then is there a way to avoid the 3 months interest penalty? And do you know how long we can hold on the gift before deliver to our loved one? Thanks.

@Perl07751 4 ай бұрын

On February 27, 2024 my beloved wife was able to buy a $10K Ibond for herself, I also bought one for myself. Next, I was able to gift and deliver two more $10K ibonds to my wife, and she did the same for me. So we both were able to get 3 $10K ibonds each. There seem to be nothing to stop this.

@poolmilethirty2859 4 ай бұрын

Wait, I thought that the limit to buy or receive is $10K. If you already bought 10K for yourself, you cannot receive her 10K gift, to you, until next year. The same for her.

@poolmilethirty2859 4 ай бұрын

Thank you Jenn. I was wondering if you can buy an IBond gift for yourself or only to others.

@DiamondNestEgg 4 ай бұрын

You cannot gift yourself

@kittykat2532 Жыл бұрын

I would like a video on how to buy bills, notes, bonds through Treasury Direct but hold them in a self-directed Roth IRA. Do I put cash in the IRA and then add that account to Treasury Direct? Do I buy with my normal checking account account that I buy with and then is there a way to transfer them in to the IRA? Please tell me!!!

@barbarajordan7376 Жыл бұрын

Thank you for your videos. Question regarding gift box recipient. Once you gift an I-bond can you change the recipient from one family member to another? 2022 my daughter gifted me an I-bond. I have not taken delivery and want the gift to go to her husband. Is this possible, can she change or add a 2nd recipient?

@paulj2948 Жыл бұрын

Looking forward to your analysis, Jen! Can't wait for the tables and slides! I just bought my 10k for 2023 anyway since it was earning 0 in my checking account and I'm fully investing in my other investments. I figured it's a no brainer.

@DiamondNestEgg Жыл бұрын

Thanks for sharing!

@jstins Жыл бұрын

What happens if you change your mind about gifting the bond to the recipient or if the recipient can’t or won’t accept it?

@docartt7354 Жыл бұрын

Re the 3 month interest penalty. If I redeem the bond at 1 y 3 months then I would receive the full year of interest. Correct?

@gabymalembe Жыл бұрын

What does your crystal ball say about i-bonds given the December Cpi?

@johnlyons286 Жыл бұрын

Hi Jennifer, thanks for the videos. Can I buy my wife a gift if I give her $10k gift from a prior year....assuming I don’t deliver it to 2024? Thanks

@veonl4219 3 ай бұрын

Will the 3 month interest be deducted when the sender delivers the gift to the recipient? Is that considered withdrawal?

@robertphillips2051 Жыл бұрын

Excellent video. What happens if you enter the wrong account number when making a gift? Does the treasury direct software compare the entered account number information to the giftee registration information to ensure that they match? And if they don't, cancel the transfer? I'd hate to make a mistake since dealing with the treasury direct is almost impossible.

@robertphillips2051 Жыл бұрын

I discovered you can deliver as little as $25 just to test things before delivering the total amount.

@geoffreychancellor20 11 ай бұрын

Hi My question is can I retrieve a gift box i purchase for a minor, or how can I stop or close that account from the US treasury? Thank you

@ChildlessAndFearless Жыл бұрын

Hi Jennifer, should we keep buying t-bills maturing past July if US defaults in the middle of the year?

@dumbness-or-kindness 7 ай бұрын

I just delivered 2 10k gifts to my husband I bought in 2022. both were delivered no problem without any special message or warning. Should I be worried? 😮

@mariomickenberg Жыл бұрын

Hi !! Thank you so much for your videos. I understand with ibonds you only pay federal tax after 18 months. What if I give as a gift to my mom who is over 70 years old. Does she pay the same tax as if I give them to my wife who is 38 years? Thank you again for your answer and your contents 😊

@monarene44 Жыл бұрын

Presumably a 70 year old on social security income would have to earn about $14k in interest to have to pay any tax at all.

@bujoreancristina378 Жыл бұрын

Thank you Jennifer! Can you please try and buy $100 bond in your husband's account to see if the gift affected his 2023 limit?

@monarene44 Жыл бұрын

Would you underpay your taxes by $100 just to see if the government didn’t notice? In this case, it would be taking a chance on being locked out of your account or worse.

@joespiffy8772 Жыл бұрын

if i hold on to the gift to my wife, like i am planning to do. can i buy her another one this year and hold that also? or do i have to deliver the first one to her before i can buy her another one the following year? holding both in my account. continuing to hold them. so she can take out another 10,000 I bond this year? if she can afford it? how far out can i go? just asking? THANK YOU VERY MUCH YOU ARE THE BEST!!

@jwmore Жыл бұрын

Bought on April 2022, and delivered on Jan 2023, is this counted as early withdrawal? Is there last 3 months interest penalty even if it is still NOT redeemed yet?

@travissweet1177 Жыл бұрын

I bought a 10K I bond gift in June 2022, but did not deliver it. If I deliver it in June 2023 can the recipient immediately withdraw all of it or does the 1 year holding period start when the gift is delivered, and they must wait until June 2024? Thanks.

@worldhikerloren 8 ай бұрын

Might it be prudent to purchase this November 1.3% fixed rate IBond as a gift for my wife and transfer it to her account at some time in the future when the fixed rate is lower? (Understanding that she would not be able to purchase for herself in that transfer year)

@kathycarlston1363 Жыл бұрын

How could existing I Bond purchases be impacted by a government shutdown or a failure to raise the debt limit?

@knelsonatl Жыл бұрын

Thanks as always, JL. Curious point here- if I gift someone the bond and pay the 3 month interest early withdrawal penalty, will they be charged the 3 month penalty again if they cash out b4 the 5 year from purchase date ends? Does that question even make sense?

@timparenti Жыл бұрын

The penalty is associated with the value of the bond itself, and isn't really "paid" by anyone per se. It simply reduces the calculated redemption value by the appropriate amount within the first five years after issuance, regardless of where it sits at the time. So no, there's no double penalty, but the recipient should be aware of the reduced value in the first five years.

@sdabernathy Жыл бұрын

I was not aware that gift transfers caused a loss of 3 months interest. Is that true? I don’t recall hearing this in any of your videos. Can you clarify and refer me to the Treasury Direct rule on this? The bond is not being redeemed, so why is there a penalty?

@knelsonatl Жыл бұрын

@@sdabernathy Listen to the section @ 5:45 and she mentions the principal amount minus a 3 month interest withhold from the gift. My question is, if they redeem before the end of the 5 year from purchase date, does the recipient pay another 3 month interest penalty?

@DiamondNestEgg Жыл бұрын

@@timparenti Thank you Tim

@DiamondNestEgg Жыл бұрын

Tim Parenti nailed the answer - hope it's all clear now

@izzybee-hq6px Жыл бұрын

how to gift my i bond acc to my grandchildren if they do not have an acc.

@DaniElle-di4ho Жыл бұрын

Did I understand you correctly that if you deliver an inbound gift before the 5-yr holding period you lose 3-months interest? That doesn’t seem right- shouldn’t it only lose interest when that ibond is withdrawn by the gift recipient, not when it’s only been delivered?

@DiamondNestEgg Жыл бұрын

The last three months' interest penalty applies to all I-Bonds in the first five years - regardless of whether you purchased it for yourself or as a gift for someone else. If you gift it to your recipient & they redeem AFTER five years from the date you purchased it, there would be no penalty applied at that point for them to redeem.

@kmn8226 Жыл бұрын

For clarity, is there a 3-month interest penalty upon delivery of an IBond within 5-years?

@hasmukhpatel4739 Жыл бұрын

Hi Jenifer I have allready bought I bond in 2022 , again I want to buy for this year 2023. Then tell me in which month should I buy ? Thanks.

@DiamondNestEgg Жыл бұрын

Stay tuned for more I-Bond videos in Jan

@hasmukhpatel4739 Жыл бұрын

@@DiamondNestEgg ok.

@user-if4bd2go7s 9 ай бұрын

If I bought a gift iBond for a minor(with linked account), do I need to deliver that gift to minor just like the normal iBond gift delivering process? Please confirm.

@aina07 Жыл бұрын

My wife and I have gifts for each other and are trying to decide if we let them stay in the box in 2023 and purchase our normal $10K limit (non-gift). I'm waiting for the new interest rate to be announced, but am thinking if it's over 5%, we'll let the gifts sit in the box and buy new ones. Do you have an "over/under" interest rate for using gifts versus buy new?

@DiamondNestEgg Жыл бұрын

Sorry, not at the moment unfortunately. Need to crunch some more numbers first.

@DaniElle-di4ho Жыл бұрын

You can always deliver your gifts first and gift new ones later. That’s what I am doing.

@aina07 Жыл бұрын

@@DaniElle-di4ho thanks, didn't even think of this approach...but a perfect solution.

@surrenderedmoments9287 Жыл бұрын

When I go to deliver the GiftBox I-bonds, should I choose full transfer (Includes 10K principal plus the earned interest) or partial transfer so that the total doesn't exceed 10K including the interest earned? In other words, when I deliver full transfer of 10K principal plus interest, would I or the recipient have to take it all out in 2023 because it exceeded 10K yearly limit (because of the interest accrued portion)? Or is only the principal counted for the yearly limit of delivery and not the accrued interest on it?

@DiamondNestEgg Жыл бұрын

I talk about this in the video

@MathSolutionsForYou Жыл бұрын

Is it true that if I deliver this year the I-bond gift purchased last year, they will deduct three months of interest even if the recipient does not cash out those bonds? That seems to be what Jennifer said but it was not very clear....it also seems a bit strange to me: if I am delivering the gift-bond, and the recipient does not cash those bonds, that should not be regarded as 'early withdrawal', so why the penalty?

@DiamondNestEgg Жыл бұрын

@Chuckle666 9 ай бұрын

Hi, after watching your video last year, I had purchased $10,000 I-bond to each of my 2 children (not as a child, as an adult) and $15,000 for myself but when I login into my account, my gift box shows nothing but zero. However, the total amount of my I-bond in my account is $35,000.00. Can you tell me why?

@we6871 Жыл бұрын

So the 3 mos. of interest early forfeiture only applies IF the recipient cashes in the bond prior to the 5 year anniversary right? If they wait the full 5 years they get it all?

@DiamondNestEgg Жыл бұрын

Yes

@we6871 Жыл бұрын

Thanks! Love the channel and guidance!!

@swanthamane3287 Жыл бұрын

hi!. Thanks for your online education.. After watching your vdeos. .i braved enough to purchase and gift Ibonds.. Now I have a question :-) Can we keep gifting 10K every year and just hold it in Gift Box with out immediate delivery ? in otherwords - Is there a limit the Gift box can hold? Thanks in advance.

@DiamondNestEgg Жыл бұрын

Yes, you can keep I-Bond gifts in your gift box for as long as you wish - just know that they do stop earning interest after 30 years.

@raghuhv9674 Жыл бұрын

@@DiamondNestEgg Thank you 🙏

@jwmore Жыл бұрын

is i-bond delivery equal to i-bond redemption on interest penalty?

@DiamondNestEgg Жыл бұрын

No - delivery is for I-Bonds purchased as gifts for someone else

@stevehaynes3331 Жыл бұрын

Have been unable access my account this year because the code they email comes about 30 minutes later, not soon enough to be accepted. After a number of tries I was locked out. Now I can’t contact them by phone to be unlocked.

@DiamondNestEgg Жыл бұрын

You should try calling them first thing in the morning when they open

@jamesdiaz Жыл бұрын

Hi, Can each parent deliver 10k gifts to their children in the same year?

@skeptick6513 Жыл бұрын

Dont believe so, a person can only buy and/or receive as gifts max $10k per year but your undelivered gifts can sit in your gift box indefinitely.

@DavidMoriconiM3inspect Жыл бұрын

when can you transfer a gift without losing the 3 months of interest

@DiamondNestEgg 11 ай бұрын

You lose the last 3 months' interest only when you REDEEM before the 5-year holding period

@ronsjohnson7185 Жыл бұрын

Isn’t cpi announced this week?

@DiamondNestEgg Жыл бұрын

Thursday

@joeadams4354 11 ай бұрын

Do delivered gifted IBONDS continue to earn interest?

@DiamondNestEgg 11 ай бұрын

Yes - they earn interest until redemption

@wuzhao8605 Жыл бұрын

How long can you hold an I-bond gift without transferring?

@DiamondNestEgg Жыл бұрын

As long as you want, but keep in mind they stop earning interest after 30 years

@wuzhao8605 Жыл бұрын

This means that virtually there is no limit on how much you can buy in a year. For example, you buy 60k in 2022. In next five years you transfer 10k each year to your spouse. Your spouse can do the same for you.

@robertryan3490 Жыл бұрын

Why not transfer from gift box. Then if you want to buy 2023 ibonds put the new purchase in the gift box?

@alphamale2363 Жыл бұрын

You can put as many bonds as you want in the gift box. No limit.

@donofd9626 Жыл бұрын

If you gift them now you lose 3 months of pretty high interest. Better off to wait until the rates go down.

@enChristos23 Жыл бұрын

@@bobby350zThe bond interest always shows minus last 3 months interest during first 5 years. I guess it's also reflected as such when gift is received within 5 years of purchase.

@jstins Жыл бұрын

@@enChristos23 So if Marcus holds them for the 5 years will he recoup the 3 lost months?

@jwmore Жыл бұрын

My understand is that you lose 3 months interest only after redeemed, but the gift delivery is not a redemption.

@lalaC959 6 ай бұрын

Both my husband and myself bought $10000 gift to my son. What happens if we both deliver the gift to him in the same year? He would have $20000 ibond then which would exceed the $10000 per year limit. Thanks!

@poolmilethirty2859 4 ай бұрын

He cannot receive $20K in one year. Your other $10K gift to him will have to wait until the following year.

@aileleor Жыл бұрын

Hi Jennifer, thank you for the clear explanation. Just to confirm, if I bought I-bond for my family member, say on 5/1/2022 and I want to deliver it to him now (1/9/2023), there is NO 3-month interest penalty for him if he will not cash it out within 5 years, i.e if he keeps it until 4/30/2027. Is it correct? The delivered interest is calculated by the total earned interest - 3 month interest penalty but it does not mean the penalty actually has happened. Please correct me if I am wrong.

@DaniElle-di4ho Жыл бұрын

I had the same question!!

@jwmore Жыл бұрын

The same question for me

@crosscreek1146 Жыл бұрын

Same question

@monarene44 Жыл бұрын

The delivered interest is NOT a minus 3 month figure. A new bond does not earn any interest in the first 12 months anyway.

@DiamondNestEgg Жыл бұрын

Aileleor & everyone else with this question - that is correct. This question has come up a fair bit. I’ll have a video clarifying.

@TheAzmountaineer Жыл бұрын

Why is there a 3-month penalty for the transfer? That doesn't seem right, since it wasn't sold.

@DiamondNestEgg Жыл бұрын

@TheAzmountaineer Жыл бұрын

@@DiamondNestEgg Thanks for responding. I understood that you pay the penalty when it's sold, but didn't know that it would apply when I transferred to the recipient. I figured it would apply only if the recipient then sold it before the 5 years was up.

@wuzhao8605 Жыл бұрын

@@DiamondNestEgg from your demo, it seems Markus got the exact amount that you transferred to him. There is no penalty occurred during the transfer.

@davidweiss7628 Жыл бұрын

how to buy municipal bonds at fidelity?

@shoofly529 Жыл бұрын

After login, go to the top of the page & click on the green banner “News & Research” Then from the dropdown menu, “Fixed Income, Bonds & CD’s” Click on the “Bonds” (the "Bonds" word written in Blue) tab Then the “Municipal” tab. From there you will see “Secondary or “New Issue” The secondary page is now open and you will have to fill in search criteria to narrow down from approx. 49,000 bonds available. There's usually a minimum amount of bonds you will have to buy; you'll see the # in paraphrases in the bid & Ask columns for ex: (5) , (75), etc. New Issue page offerings are a lot smaller with Municipal bonds usually purchased in increments of 5. Check that "Attributes" column for tax exempt, call protected, etc.