Why even bother with your bank/credit union... the best way is to just go to the source... the FED itself... you can buy bills ( 4 week term ) or bonds ( longer term ) and you tell them when you want the money invested or given back to you... here is the web site...https://www.treasurydirect.gov/ so much better than a CD
all you do is open an account... link in a savings account to fund your purchase and chose your bill/bond ... then the FED just pulls the funds and re-deposits it at the end of the term... and yes you can also get the funds out early if needed... and you can option to reinvest auto or not.... and of course its insured.. its the FED and you aren't limited by the $250K like banks/credit unions are... at the end of the year the FED sends you the 1099 and you put that in the IRS docs... its simple and you aren't paying your banker to do this... no penalty...
all you do is open an account... link in a savings account to fund your purchase and chose your bill/bond ... then the FED just pulls the funds and re-deposits it at the end of the term... and yes you can also get the funds out early if needed... and you can option to reinvest auto or not.... and of course its insured.. its the FED and you aren't limited by the $250K like banks/credit unions are... at the end of the year the FED sends you the 1099 and you put that in the IRS docs... its simple and you aren't paying your banker to do this... no penalty...
Comments
Post a Comment
https://gengwg.blogspot.com/