In a summer marked by economic uncertainty, those on the brink of retirement are feeling most of the heat. Inflation data — most recently registering at 9.1% — are staggering. Combine this reality with overseas conflict and rising interest rates, and you have a big-picture scenario that doesn’t bode well for aspiring retirees.
Here, we’ll go through four ways to safeguard your retirement amid unusually high inflation.
1. Add I-bonds to the mix
Series I savings bonds, offered electronically through the United States government, are currently paying interest at an annual rate of 9.62%. These bonds represent loans to the U.S. government with an interest rate indexed to current inflation levels. If you choose to buy, you’ll need to own for at least a year, and you’ll be subject to a maximum purchase limit of $10,000.
People are also reading…
There are ways to get creative around I-bonds, even if $10,000 isn’t a meaningful share of your investment portfolio. For instance, the $10,000 limit applies per person, which means, if you’re married, your spouse can also purchase I-bonds. Or, if you happen to have created a revocable trust, the trust is also…
