We hope everyone had a great long weekend! This week, we’ll be introducing you to one of our summer interns, and to series I bonds (which, okay, you might have heard of, but go with us here).
Let’s start with the economics of it all. Series I bonds can be a great way to diversify your investments and invest cash that isn’t already earmarked for anything else. This type of bond is a non-marketable, interest-bearing US savings bond that earns a combined fixed income rate and variable inflation rate (adjusted in May and November). They have a 20-year initial maturity with a 10-year extended period for a total of 30 years. These bonds give investors a return along with inflation protection, so they’re considered low-risk. And right now, they currently pay 9.62%.
A few more things to know about I bonds:
- Series I bonds are purchased and held directly at treasury.gov.
- You must hold the bond for at least one year, and selling it before five years forfeits the last three months of interest you have on the bond.
- They are limited to $10k per person (or entity, including a trust or LLC) per year.
Everyone’s situation is unique; so if you’re considering purchasing some I bonds, give us a call and we’ll see if it’s the right move for you.
This week, we’d love for you to meet intern Timothy Landicho.
Where are you from, and where do you go to college?
I am from Leesburg and go to Virginia Tech, where I’m studying finance with a specialization in financial planning.
What are you most eager to learn at Obsidian?
I am eager to learn the various processes that the team employs inside and outside of meetings, and see how different concepts and skills learned in the classroom actually translate into practice.
What do you do for fun outside of work?
I am a very outdoorsy person, so I hike, fish, photograph, and travel to various natural wonders. Culture is very important to my family, so I have visited around 15-20 different countries, tried cuisine from all regions of the world, and explored various local cultures and traditions.
Do you have any pets we should know about?
I have two dogs; one cavachon (Jackson) and one labradoodle (Gus). Jackson is about 13 years old, and Gus is just over a year old. Back at college, I have a small school of cichlid fish that my friend is currently watching over.
We’re so happy to have Timothy working with us this summer! Next week, we’ll introduce you to our other intern, Matthew.
That’s it for us this week. Tell your pets we love them, and we’ll be back in your inboxes next Friday.
How We Help
We work with a family that put an estate plan in place early in life and has made updates through the years. The last update was around ten years ago. Our client’s attorney suggested retitled his home after his wife became ill to ensure it didn’t interfere with her Medicaid access, but now the client would like the home back in his name. Additionally, some family dynamics have changed, which have in turn changed some of his goals for his estate.
We are working with him on the whys and hows of making this happen, in collaboration with his new attorney, to honor his new goals. With this client, we did a Lifestyle Protection Plan review every year because things change over time and need to be adjusted, including family dynamics and goals, as they do for just about everyone. It’s important to go through everything at least annually to be certain that your goals are in line with what’s on paper. Is it time for you to update your estate planning? Give us a call!
Advisory Services offered through Obsidian Personal Planning Solutions, LLC. Securities are offered through Triad Advisors, member FINRA/SIPC. Obsidian Personal Planning Solutions, LLC, and Obsidian Personal Planning Solutions, Inc, are not affiliated with Triad Advisors.