Low interest rates have reduced the attractiveness of fixed income investments, especially with the recent spike in inflation. But rising inflation has made I Bonds appealing, at least for the next few months -- they are paying 7.12% on an annualized basis!
I Bonds are U.S. government savings bonds that earn a composite of a fixed interest rate and an inflation rate. While currently the fixed rate is zero, the inflation rate is 3.56%. The inflation rate, however, resets every six months. Your rate of return will thus vary over time, dropping if inflation dissipates.
To learn more, see the following links from TreasuryDirect:
please note that you cannot buy I Bonds through your brokerage account (like Schwab). You need to purchase them directly from the U.S. Treasury. I Bonds must be held at least 12 months and penalties exist for withdrawals prior to five years. There are limits to how much you can purchase -- $10,000 per person, per calendar year (with additional opportunities in specified situations). The links above tell the whole story. I'm also happy to be a resource.
Words of Wisdom
Bargain ... anything a customer thinks the store is losing money on. -- Kin Hubbard