Podcast Summary
Monetizing unused spaces with Airbnb: Hosting on Airbnb is a low-cost side hustle with high potential. During a recession, Series I Bonds offer a safe investment to keep money's value.
Monetizing what you already have, such as hosting a space on Airbnb, can be an easy and effective side hustle. The speaker shares her personal experience of writing in remote cabins, but feeling uneasy about leaving her house empty. Airbnb provides a solution for her, and it can do the same for others. Unlike some side hustles, hosting on Airbnb doesn't require significant startup costs. The speaker encourages those new to side hustles not to worry and assures them that Airbnb makes it easy to get started. Additionally, she highlights the value of Series I Bonds as an excellent investment during a recession, with a high ROI based on inflation. This investment strategy helps money keep pace with inflation, making it a valuable tool for financial rehab.
Gift I Bonds to bypass personal purchasing limits: Bypass individual I Bond purchasing limits by gifting them to loved ones, following a two-stage process: buying and delivering, using their Social Security number for the virtual gift box, and assigning their name to the bond once purchased.
I Bonds make for thoughtful and long-lasting gifts. These bonds offer excellent returns with inflation protection, but there's a limit to how much an individual can purchase per year. However, you can bypass this limit by buying I Bonds as gifts for loved ones, even if you've already reached your personal limit. The process involves two stages: buying and delivering. To buy a gift I Bond, you'll need the recipient's Social Security number, and the bond will be placed in a virtual gift box. Once the purchase is complete, the bond is non-transferable, and the recipient's name will be assigned to it. After a few days for processing, you can deliver the I Bond to the recipient, who will need a TreasuryDirect account number to receive it. If the recipient doesn't have an account yet, you can still buy the gift before they create one. Overall, I Bonds make a fantastic gift that keeps on giving, with no expiration date or deadline for delivery.
Gift I Bonds to increase investment exposure: You can't invest more than the annual limit in I Bonds personally, but you can gift them to others to increase your overall investment
While there is a limit to how much you can personally invest in I Bonds each year, there is no limit to the amount you can gift to others. This means that you can effectively invest more than the annual limit by gifting I Bonds to multiple people. However, each gifted amount counts towards the annual limit, so it's not a loophole to invest more than the limit in a single year through gifting. Instead, it's a way to increase your exposure to I Bonds over time. If you haven't yet taken advantage of this investment opportunity, consider starting with a minimum investment of $25 on TreasuryDirect.gov. Happy investing!
