What is the difference between the Series I and Series E bond?

Question

Which one is the one that doubles your money in a year?

Answer 1

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Answer 2

ha ha doubles your money in a year.  Someone has misinformed you.  EE bonds currently pay 1.4% interest.  Let me see.  How long will it take to double your money with those?  Just about 50 years.  But wait.  Inflation is running at 6% a year and has not been below 3% in the past 30 years.  What that means is that not only will you not ever double your money but if you were to hold these bonds for the full 30 years that they pay interest you will have lost about 1/2 your purchasing power.  

I bonds currently pay 4.8% interest.  That is a little better.  You will double your money in about 15 years, but that is before inflation.  And that is the current rate.  The rate changes every 6 months so it is kind of difficult to know how long it really might take to double your money.  Even though the rate is inflation adjusted,  it does not keep up with inflation because of the way the government calculated inflation.  They fudge the figures considerably.  It is however potentially possible that the I bonds might possibly double in value in one year at some time in the future.  It certainly is not beyond the relm of possibility.  In fact with the current fiscal policy one might even expect that to happen in the near future.

Answer 3

Series I has inflation protection. Neither series will double your money in a year.