The Clark Howard Podcast 12.05.24 Update: Series I Savings Bonds / A Warning About Fidelity
5 snips
Dec 5, 2024 This episode dives into the latest changes in Series I Savings Bonds, offering timely advice for savvy savers. Listeners will discover the pitfalls of major investment firms like Fidelity, Vanguard, and Schwab, as they face criticism for service and product quality. There's also valuable guidance for young investors on making the most of a $2,000 investment with a Roth IRA. Plus, the discussion highlights smart strategies for navigating homeownership and investment options, ensuring everyone is equipped for financial success.
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I-Bond Strategy
- Dump old Series I Savings Bonds due to low interest rates (1.9%).
- Exchange them for new I-bonds or invest in online banks with ~5% interest.
Debit Card Risks
- Use PayPal debit cards cautiously, limiting the amount of money at risk.
- Favor credit cards for better consumer protection in case of fraud.
Financial News Recommendations
- Subscribe to the Financial Times for in-depth financial news.
- Consider Barron's Magazine if you find the FT too specialized, followed by the Wall Street Journal.