Buy Treasury Bonds Or CDs In A Retirement Account? | Did Bond Yields Go Up This Week? (May 2024)
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- Опубліковано 21 вер 2024
- Is it better to buy Treasury bonds or CDs in a tax-advantaged retirement account, inflation data & bond yields from last week - plus, the upcoming week’s auctions - that's what we're covering in today's Treasury update video! Please note CORRECTION at 11:09 - coupon for the TIPS reopening auction will stay the same!
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*Sources can be found in first pinned comment
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Our Bond Courses vs UA-cam Membership | Which Is Right For You: ua-cam.com/video/H5h4Eyh0hjo/v-deo.html
Bond Beginners Course Sneak Peak | I-Bonds vs TIPS: ua-cam.com/video/uXPzbje1g2E/v-deo.html
Bond Masters Course Sneak Peak | How To Build A Bond Ladder: ua-cam.com/video/p90IDmXn19s/v-deo.html
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Here is the overview for Bond Beginners:
1. Bond Basics
What A Bond Is & How A Bond Works
Why Invest In Bonds
New Issue vs Secondary Market Bonds
Interest Rates & Bond Prices
Current Yield & Yield To Maturity
Always Remember This!
Buying At Par, Above Par & Below Par
Different Types Of Bonds
Wrap-Up
2. The Risks Of Bond Investing
Seven Key Bond Risks
Credit Risk
Interest Rate Risk
Reinvestment Risk/Call Risk
Inflation Risk
Liquidity Risk
Currency Risk & Country Risk
Bond Risk Mitigation Strategies
Wrap-Up
3. US Treasuries Overview
What Are US Treasuries
Why Invest In Treasuries
Where Can You Buy Treasuries
How Are Treasuries Taxed
Wrap-Up
4. Treasury Bills
What Are Treasury Bills (T-Bills)
When Do T-Bill Auctions Happen
Where Should You Buy At Auction
Auto-Roll When Buying At Auction
Where To Find Recent Auction Results
High Rate vs Investment Rate
Reopening Auctions
Cash Management Bills (CMBs)
Buying & Selling On Secondary Market
Wrap-Up
5. Treasury Notes & Bonds
What Are Treasury Notes & Bonds
When Do Auctions Happen
Buying Treasury Notes & Bonds
Auction High Yield vs Interest Rate
Floating Rate Notes (FRNs)
Treasury Zeros (STRIPS)
Wrap-Up
6. TIPS (Inflation-Protected)
What Are TIPS
When Do TIPS Auctions Happen
Nominal vs Real Yields
Negative Yields
How Do You Adjust TIPS For Inflation
Taxes On Phantom Income
Secondary Market Liquidity
Wrap-Up
7. I-Bonds (Inflation-Protected)
What Are I-Bonds
How Does I-Bond Interest Work
I-Bonds vs TIPS
The Annual I-Bond Limit
Wrap-Up
8. Agency Bonds
The Universe Of Bonds
What Are Agency Bonds
How Are Agency Bonds Taxed
Treasuries vs Agencies
Who Might Want To Consider Agencies
Yield-To-Call & Yield-To-Worst
Where Can You Buy Agency Bonds
Wrap-Up
9. Municipal Bonds
Our Bond Universe Gets More Complex
What Are Municipal Bonds
How Safe Are Munis
How Are Munis Taxed
The De Minimis Rule
Social Security & Medicare Premiums
Treasuries, Agencies & Munis
Who Might Want To Consider Munis
Wrap-Up
10. Corporate Bonds
Our Bond Universe Is Complete
What Are Corporate Bonds
How Safe Are Corporates
Corporate Bond Hierarchies
Five Key Features Of Corporate Bonds
How Are Corporates Taxed
Treasuries vs Corporates, Etc.
Who Might Want To Buy Corporates
Wrap-Up
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Here is the overview for Bond Masters:
1. Stocks vs Bonds
Historical Performance
Are Bonds Really Less Volatile
Why Invest In Bonds
Accumulation vs Decumulation
Allocation of Stocks vs Bonds
Wrap-Up
2. Which Bonds Might Be Right For You
Treasuries & Other Types of Bonds
Nominal vs Real Yields
Inflation vs Non-Inflation-Protected
Taxable vs Tax-Advantaged Accounts
Wrap-Up
3. Bond Ladders & Other Bond Strategies
Normal vs Inverted Yield Curve
What Is A Bond Ladder
5 Important Bond Laddering Questions
Laddering When Rates Are Rising
Laddering When Rates Are Falling
Laddering When Rates Are Uncertain
What Is A Bullet
What Is A Barbell
Wrap-Up
4. Holding to Maturity vs Selling Early
Why Hold to Maturity
When To Sell Early Before Maturity
Tax Implications Of Selling Early
Wrap-Up
5. Individual Bonds, Bond Funds, Etc.
Why Buy Individual Bonds
Why Buy Bond Funds
Bond Fund Considerations
Key Bond Fund Concepts
CDs vs Treasuries
Other High-Yield Investments
Wrap-Up
6. Our B.E.S.T. Model Portfolios By Age
Our B.E.S.T Model Portfolios By Age
Model Portfolios In The Industry
B.E.S.T Model Portfolio Difference
How Much Do You Need To Retire?
How I Use The Rules of 100, 110, & 120
B.E.S.T Model Portfolios (20s)
B.E.S.T Model Portfolios (30s & 40s)
B.E.S.T Model Portfolios (50s & 60s)
B.E.S.T Model Portfolios (70s+)
Wrap-Up
7. The Decumulation Phase
What Is The Decumulation Phase?
Bear Markets & Recessions
What Can You Do In Bad/Bear Markets
Decumulation Tax Considerations
The 4% Rule
The Bucket Strategy
The Flooring Approach
Jen’s Bucket Strategy With A Twist
Wrap-Up
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SOURCES FOR TODAY'S VIDEO:
treasurydirect.gov/auctions/upcoming/
www.fidelity.com/
home.treasury.gov/policy-issues/financing-the-government/interest-rate-statistics
www.bls.gov/news.release/ppi.nr0.htm
www.bls.gov/news.release/cpi.nr0.htm
www.bloomberg.com/news/articles/2024-05-16/fed-s-mester-suggests-interest-rates-should-stay-high-for-longer
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Thanks for visiting our personal finance channel! We hope this content will help fast-track your financial journey! Everyone's financial journey is different. Please note that: 1) there are questions/ comments which I will not be able to answer without fully understanding your financial, personal & other circumstances & 2) we will not ask you to call us or send us money in the comments on this channel or any of our other social media accounts, so if you see comment(s) along those lines, it is most likely spam - PLEASE DO NOT ENGAGE WITH SPAMMERS OR GIVE OUT YOUR PERSONAL INFORMATION FOR YOUR OWN SAFETY.
Really well done. I have both T-bills and CD's. Some CD's do allow you to take your interest monthly which may be a benefit for some people.
Make sure the CD is not callable if doing an apple to apples comparison. I just bought a 2 year non callable CD at 5% in my IRA which pays more than a comparable t note. However, outside my IRA I am staying with 1 year T Bills at 5.15% compared to CD of 5.25% (5% after state tax).
Especially JP Morgan brokerage CDs, They pay a little bit higher but almost every single one I bought has been called before the maturity date
Interesting that yours got called. I am curious the term. I have a 1 year at 5.5% due in December that has not been called.
I went CDs with my retirement account. Non callables . I got several CDs ranging from 4.5 to 5.25 % 2 to 4
Years on them .
I like them due to receiving monthly interest rate funds with principal protection. It fits my needs for now
I did the same thing exactly I also did I also did ladders cd
I have been piling T-Bills into my IRA'S, but no term over 1 year, most 3-6 month. Enjoying the yields! Thanks for another great video Jen!
Also Fidelity allows you to bid below the asking price (although I have yet to actually have a transaction occur) vs Schwab which does not allow that online.
Jen, I bought a 20 year GSE for 5.04% (non callable). Works really good for my needs. Thanks for introducing me to GSEs!
You're welcome - we will pass the msg on! Eva
Where did you buy it? On Fidelity I did not see much on the secondary market.
I thought all GSEs were callable. Am I wrong ?
@@js3883 in Fidelity on Thursday or Friday.
I'm tempted too. I just noticed those 20-year non-callable GSEs on Fidelity. Hopefully, Jen will mention something tonight during the live chat.
One thing I noticed on Schwab. If you select the specific bond by CUSIP you get multiple options and can get a better price compared to just saying 10 year bond and seeing the options.
Is Schwab showing the secondary market for the bonds then?
THANK YOU! That was amazing and gave me new insights on things to consider! I was quite surprised you took my question! I really appreciate it.
What about using a fixed annuity interest is not taxable until you withdraw the money. Flexible terms and can usually withdraw 10% of the annuity value with no penalty. Not guaranteed by full faith and credit of the government or the FDIC but top rated insurance companies represent a very low risk. I think it is a reasonable alternative especially if you are over 59.5 years old
Even though CDs are FDIC insured, I am hesitant about buying CDs from an unknown bank. Guess which banks offer the highest rates? The banks that need cash. Even though insured, I don't want the unknown hassle of getting my money back if the bank fails.
CD’s are great if you live in a non-taxable state or have a retirement account. Brokerage accounts tend to have CD’s at higher rates from some of these types of banks which are FDIC, SIPC, etc. insured via the brokerage, so you put your trust in the insurance and/or brokerage rather than the bank itself. Always good to shop around and ask questions.
@@Cameraqueen14 brokered cds purchased in any type of account are fdic insured ..
Good point bob
I'm with you Bob, the higher rates are not worth the risk to me. I stick with the larger, well-known banks.
@@g.t.richardson6311Exactly. Instead of going to an unknown bank directly, you can get them through a more reputable, highly insured entity.
10:12 Yes, based on observations from several years of data, the extra day's delay on maturity for the CMB is how the Treasury routinely handles holidays for _all_ T-Bills, not just CMBs. Likewise, issuance is typically delayed by a day as well if it conflicts, which should mean a 41-Day bill will be issued on 5 July 2024 to "compensate".
These slight variances are generally more hidden/routinized with benchmark bills, because they have colloquial "Security Descriptions" like "4-Week Bill" that differ from the official "Term and Type of Security" which is always something more like "28-Day Bill", but occasionally "29-Day Bill" or "27-Day Bill" as appropriate. You can observe this by looking closely at the individual announcement PDFs which list both. CMBs, on the other hand, are not strictly _intended_ to be routine (though they certainly can become so); rather, since they are intended to help patch often odd-sized holes in the Treasury's day-to-day finances, they have historically been expressed in terms of days in both cases.
Lately I've noticed that your weekly comparison charts have shown the 4 week bill at a 5.5% yield.....I haven't seen anything other than 5.3-5.4% for months now. Am I missing something? Thank you Jennifer!
Fidelity money market is paying 4.95%. That's most of my IRA. I am 7 years from pulling social security and can live on less than I make.
Fidelity money market funds come with an expense ratio of ~0.4%. that is going to ding you for $400 per $100K.
I bought some callable CDs last year and two passed their first call date and were not called (at 5.8% and 5.7%). I was expecting them to be called and happy they were not.
Go out and buy a lottery ticket! You're lucky!
Question on FDIC Insurance. If I own $250k in Treasuries and $250k in CD’s I am insured completely?
Is this because each $250k is in a different “category”??
TYIA
Hi Jenn,
Thanks again for all you do to help us struggling retirees.
Can you comment on the CMB?
I like treasuries for taxable and non-taxable accounts. Easy to sell in my brokerage account - without a fee. Selling a brokered CD or a corporate bond usually means a small fee or loss. (I try to buy and hold, but sometimes I want to jump on something that pays higher interest.)
Thanks for sharing! Eva
My tIRA has a bit of everything except mutual funds. I do have income investments in that account and one happens to be a 2 year T Note with a 5% yield. My other income investments are corporate bonds with maturities laddered to satisfy my RMDs for 5 years (they begin in 2026). Dividends on equity invesments are currently re-invested but when RMDs start I'll likely just collect the cash to extend my RMD coverage by a year or two and continue to avoid equity liquidation. My dilemma when maturities and RMDs begin is maintaining our asset allocation. All the bond maturities during RMDs means I'll be increasing our income position in our taxable account to maintain asset allocation. As for Roths, nothing but growth and growth & income equities/ETFs. A Roth is not a place for fixed income investments.
I’m not buying cds or t bills! I will wait for my mutual fund bond portfolio to out perform and I will make some serious money!
Jen would you be willing to discuss what your in-laws and parents have setup for their retirement portfolios or investing decisions? I find it a great learning experience to see how those in retirement have set themselves up. I am assuming you advised them on what to do. Thanks.
Hi Mary - I've added this to this evening's Q&A for Jennifer. Best - Eva
Thanks to you I'm feeling pretty confident about my bond knowledge. Looks like I've got the right guiding principle for me for now - T Bills in Treasury Direct, Agencies and growth equities in my Brokerage, Corporates and higher divi equities in my IRA (I'm in a high state & local income tax state). It'll be about 6 yrs before my first RMD and 5 or 6 yrs til I retire. For now I'm slowly DCA'ing out of my 4 wk ladder and into a 17 wk ladder, and carefully watching 1 & 2 yr yields, hoping to balance the risk of tying up my funds for 1-2 yrs versus the risk of missing the point where they start dropping. The question remains how much - and in which direction - would a Fed rate cut, if it happens, likely affect the ultra short and 1 & 2 yr yields? Would they be likely to all come down with a rate cut or would a cut only affect the 10 yr yield?
Hi Anne - I just added this onto the list of questions for tomorrow's member live! Best - Eva
I'm confused. In a reopening of the 10 Year TIPS bond, how can the coupon possibly be different? Won't the coupon stay the same and the cost of the bond will be where the unknown factor is? Inquiring minds want to know!
You are correct, the coupon box for the reopening should not have been marked - it stays the same. We’ve noted the correction in the description.
China is dumping their Treasury Bills holdings in billions and the T-bill rates have not gone down. How do you explain that?
How about a video on hedging interest rate risk? 2nd, is looks like treasuries don't pay interest in the last cycle. Is this correct?
Wish you could explain how TIPS are priced when they are reissued. I bought a 5 year and 10 year TIPS on Vanguard and looks like the price of them is below what I paid per a $1000 buy in. Bogleheads have said that as long as you keep them to maturity, it equals out. Am I guessing right that the price I see is the market price and is based on what someone would pay me at the time to buy the TIPS off me right then and there?
One minor slowdown in inflation and the market goes nuts again and thinks a rate cut is coming. They’re cheap money addicts jonesing for a fix.
The value of your bonds will also go up as rates come down vs CD’s which only pay interest.
cd value would also fluctuate.
@@loupasternak how so?
@@user-rh6ji1ot8q take a look at cd's in the secondary market . the price fluctuates based on the coupon, same as a bond.
You can pull out the bond from an IRA and then get the tax advantage when you hit the right age. You do not have to sell the bond. So buy a 20 year US bond and then transfer it over to a brokerage account in 10 years.
How does this work? Pull it out as part of an RMD? But you will be taxed on your RMDs?
@@pdouglas3866 You are going to be taxed on any non Roth IRA when you pull it out. . The key is the timing of buying bonds with high interest rates. Buy them now and pull them out later when interest rates are lower or if they are real low you might want to sell them on the secondary market for a large profit. Alternatively, pull them out pay the tax and get the income from the interest. I have a lot in my IRA's. I will be pulling them out before the RMD, pay tax and then get the tax advantage in my brokerage account and the income not taxed by my state. It all depends on interest rates and income in retirement. I plan on pulling them out when I have low income mostly social security and about 15 K in interest from treasures in my brokerage account. I don't want to go over 79K taxable income so the state MN does not tax my social security. Each year I will pull some out increasing my interest bond income that I can access. I will still get slammed for my RMD since I have so much in my IRA but at least for 7 years I can pull out about 45-50 K a year giving me maybe 2.2K each year in income from each yearly lot. In my case I will have more than enough on 90K a year. Same sort of reasoning applies if you are married. Not a strategy in a state like CA and other crazy cost of living states. There you just need a ton of money or move. In my case I just have way more money in my IRA and want some benefit in my brokerage eventually with these high interest rates.
These weekly auction predictions are very helpful. I'd like to see them introduce a 25 year bond. That would be ideal for retirees.
Update: 20 yr bond interest rate 4.625, yield slightly higher...nice one
I am on a long vacation at the moment and will not participate in any of these upcoming auctions. But, at my return will see where rates stand and what i need to add to my ladder. Maybe the june tips auction.
Long vacation sounds nice. I believe Jennifer wants us to get the next member live on the calendar for the week of the June TIPS auction.
Don'r forget AAA-rated bonds (non-callable or whole-call only) from institutions like IBRD (World Bank), PEFCO, Harvard, Yale, Smithsonian, McArthur Foundation, etc. They are yielding up to 5.5% for 5/7/10/10+ year durations. It is highly unlikely that institutions with such large endowments will default on their debt, making them a pretty safe bet. And if we were to enter a world where such institutions were to collapse, the loss of your principal would be the least of your worries.
Are you offering any Memorial Day membership specials? I think it’s time to join.
Hi! Regarding, the membership: that is operated & paid on a monthly basis via UA-cam, so we cannot run specials from our end. If you are referring to our courses, I don't think we have anything planned at this point, but I will pass the msg onto Jennifer & see what she says. Stay tuned! Best - Eva
Jennifer, are there any good long-term CD offers that you would recommend?
Riding the short term T-Bill wave until it hits the shoreline, callable and even $3000 max limits on tax right offs per year for lost investment that default puts me MVP champion, totally no risk, ,sleep well.
So I can basically put my CD in a retirement account
Why not go with a HYSA? My capital one account get 4.3%
@diamondnestegg ANYONE - for tomorrows live Q&A does she take any questions from the live chat or do we need to submit prior? If prior where and how do I do this. I am a paid bond member. Thanks for any guidance BTW yes I am new here as a members and subscriber.
Hello! Here is the link to tomorrow's member live: ua-cam.com/users/livewoM1x2C4_1Q You can pre-submit questions via the google form that is in the chat box on the right-hand side or just pop it into the chat-box. Jennifer usually answers pre-submitted questions first & then moves onto the questions in the chat-box to the extent that time allows. She does try to cover as much as possible though (FYI). And btw, we're subscriber 1000 on your channel. Good luck with the watch time! Best - Eva
Very nice work and great presentation
Can you purchase a 30 year treasury bond on Fidelity anytime or only on the auction dates?
You would have to buy on the secondary market
Are Tbills insured?
i am about half way in to a 6 month Tbill which was supposingly 5.x% and so far fidelity shows the current gain is 1.24%. if i sell that prematurely, do i only keep the 1.24% gain or would it be closer to half of the original 5.x%?
You get the 1.24% but everything depends upon if there is a buyer for your T-bill. In the secondary market, you are subject to those out there who view the T-bill you are selling as whether it is worth it compared to buying a new issued one from the government. If they buy it from you, they are going to get the matured price it was originally sold
as -ie- $1000 increments T-bill. You could have bought a $10,000 T-bill as an example. The buyer you sold it to would ultimately get $10,000 when the T-bill matures. Likewise, you can have bought just $1000 worth of a 6 month T-bill. The buyer would get $1000 when it matures. It has to be worth it to the buyer to buy the T-bill from you when they can buy a new one any time they want. You as a seller can set a price you want to sell the T-bill at, but if it is not competitive to what buyers can get otherwise, they will skip over your T-bill. Fidelity may charge you a small commission for setting up a sale of the T-bill for you too. I am not sure if they do or don't.
I get a chuckle every time I hear "guaranteed by the full faith and credit of our government" It just doesn't seem to have the same meaning anymore. Less and less value to that by the day.
Thanks for the work Jen
Life is uncertain, buy treasuries.
That sounds like it could be a Bob Marley song.
Where do you think I got it?
So now actors are experts on the economy too?
Also, the influencers in the social media 😊