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Forbes: 8 Opportunities in Your Paycheck You May Be Missing

Savings Bond Payroll Deduction Plans

Competitive Risk-Free Rates: Through this program, you can purchase US Government Series I Savings Bonds, which are fully-backed by the federal government, do not fluctuate in value, adjust with inflation, and are currently paying a 2.2% tax-deferred. The interest may also be tax-free for qualified education expenses.

Pitfalls to Avoid: You can’t cash out the bonds within the first 6 months and you lose 3 months of interest if you cash them out in the first 5 years.

(iStock)

More from Forbes:
10 Common Money Management Mistakes That You’re Probably Making
How To Teach Kids About Money: 10 Dos And Don’ts
10 Common Myths That Could Be Hurting Your Retirement Planning



The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.

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