Yea, start 5 LLCs and have them each by ibonds to get around 10K limit I would be more interested. As is, treasury direct website is fine.
Show HN: Earn 9.62% on US Treasury I Bonds on Yotta
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Re: Show HN: Earn 9.62% on US Treasury I Bonds on Yotta
#82I hope everyone reading this post knows how easy it is for Yotta to open any account at any other brokerage with this information. From there, they could initiate a transfer from your OTHER (non-Yotta) brokerages and drain your account. It really is that easy with the in-kind (or ACAT) process. Even if Yotta isn't nefarious, they could be hacked and a bad actor could use your data to accomplish the same thing.
I recommend locking down all of your investment accounts, Fidelity specifically has a lockdown mode designed for this. You can still trade/add money/pay bills, but no one can drain your account just because they opened up another account with your SSN.
https://www.nerdwallet.com/article/investing/switch-brokers-...
Re: Show HN: Earn 9.62% on US Treasury I Bonds on Yotta
#83Earlier quoted context omitted.
We do the latter. Performing actions as if we were you. I am not worried given that.
> I am not worried given that. YOLO is definitely an interesting approach for a financial company. Didn't people shit all over Plaid for taking this approach? Training people to give their financial credentials to 3rd parties is not the best.
Hey, cut him some slack, he did say he was in the business of "making saving exciting." The risk of handing over your financial credentials is exciting because you never really know what may happen!
Re: Show HN: Earn 9.62% on US Treasury I Bonds on Yotta
#84real yields on TIPS are roughly 2% which likely makes them a better bet than ibonds now. IBonds real yield is approx 0.
Do you have data/URL on this that you can share please?
TreasuryDirect. It shows the rates for both kinds of bonds. Today's Ibonds have a real yield of 0.00% and are expected to keep at that rate for a while. The variable yield is based on inflation, which was very high but has been much more muted for the past several months. That flashy 9.62% is going to be much much lower when it swaps.
TIPS currently have a nonzero real yield.
Re: Show HN: Earn 9.62% on US Treasury I Bonds on Yotta
#85You can't get 9.62% APY. The final data isn't available, but the upcoming rate is going to be way lower.
The yield changes every 6 months. I-bonds bought on or before October 31st are considered retroactive purchases to the 1st of the month, and keep the 9.62% rate until the 1st of April.
This is disclosed on the linked page (https://www.withyotta.com/i-bonds):
I-Bonds purchased now through the end of October will have a 9.62% Interest Rate guaranteed for 6 months. Future changes in rates are not disclosed by the US Treasury.
Re: Show HN: Earn 9.62% on US Treasury I Bonds on Yotta
#86Earlier quoted context omitted.
We do the latter. Performing actions as if we were you. I am not worried given that.
> I am not worried given that. YOLO is definitely an interesting approach for a financial company. Didn't people shit all over Plaid for taking this approach? Training people to give their financial credentials to 3rd parties is not the best.
If I were him, I'd be pretty stoked about the Plaid comparison.
Keep it up! You're acting for the good of the user, YOLO it.
Re: Show HN: Earn 9.62% on US Treasury I Bonds on Yotta
#87Re: Show HN: Earn 9.62% on US Treasury I Bonds on Yotta
#88Earlier quoted context omitted.
1) Easier UI and management of your I Bonds. Treasury Direct has lots of issues and you'll likely end up having to call in and wait on hold for 2 hours with customer support at some point. Maybe not if you're on top of things, but most people aren't. 2) Having your money all in one place. It's annoying to have money different places, so if you already have a Yotta account with us, it's one tap to do this. If you are…
Are there legal protections to ensure that you'll give us the TD account directly, like is it like a bank or is it that we just have to trust you?
Yes it would not be legal if we didn't give you access. So there are protections there.
Re: Show HN: Earn 9.62% on US Treasury I Bonds on Yotta
#89Earlier quoted context omitted.
Thank you - appreciate it!
Been using Yotta since the early access-ish launch. I was always prowling for something like it once the American Savings Promotion Act ( https://en.wikipedia.org/wiki/American_Savings_Promotion_Act ) was passed. Does its job, does it easily, and my effective APY has been MORE than competitive. For certain. I have always bought I-bonds direct so doesn't apply to me, but making that easier for the average person -- an…
Thank you!
Re: Show HN: Earn 9.62% on US Treasury I Bonds on Yotta
#90This is a fantastic initiative. Yotta is gamifying savings, because why not? And it's FDIC-insured so I don't have to worry about trusting money to a start-up. I think the UI-improvement over dealing with the treasury website is substantial. Good work on finding the opportunity and setting it up transparently via your already-existing buckets feature. A note of appreciation, that's all.
Your I Bonds are not FDIC-insured. FDIC does not insure bonds. If your account gets compromised, there's nothing they can do for you.
https://www.fdic.gov/resources/consumers/consumer-news/2022-...