2009 Money moves: Grab some I Savings Bonds


...wait, is that right? US Savings Bonds and making money in the same sentence?

Yes, it is. I walked into my local savings bank yesterday and while filling out my deposit slip, the towering sign of current interest rates for various investments caught my eye. It was quite a depressing sight.

A one-year CD was offered at just above 2%, and the five-year hung around 3%. Like most of you, after opening my monthly statement from my financial planner showing the returns from my 401k or IRA in 2008, I was already looking for a better place to put my savings. The only interest rate that caught my eye, and probably yours the next time you look, was the highest one on the board: the Series I US Savings Bond.