4 week T-Bills paying 4.471 and no state taxes

[goodtosave]

Yes. That is correct.

[CJsoccerchic]

thanks goodtosave! Now, I understand a bit more!

[stngymama]

Having just learned about TBills from aother thread (We're paying a boat load in taxes, need tips) I thought I'd ask a simple follow up here:
Do they tell you the maturity date when your acct is debited for a TBill purchase, and could you time it automatically so that, using the 0% holding acct, you could keep reinvesting that same original $1(whatever)K with little or no waiting/stagnation period? or Do the Tbills mature such that you couldn't do an automatic turn around? e.g., funds get deposited hours/days after you would have had to purchase (with the original investment, not the interest) for the next auction....??? AmI overthinking this?

[goodtosave]

Originally Posted by stngymama

Having just learned about TBills from aother thread (We're paying a boat load in taxes, need tips) I thought I'd ask a simple follow up here:
Do they tell you the maturity date when your acct is debited for a TBill purchase, and could you time it automatically so that, using the 0% holding acct, you could keep reinvesting that same original $1(whatever)K with little or no waiting/stagnation period? or Do the Tbills mature such that you couldn't do an automatic turn around? e.g., funds get deposited hours/days after you would have had to purchase (with the original investment, not the interest) for the next auction....??? AmI overthinking this?

The maturity date is shown in the confirmation page of your purchase. And you can schedule the recurring purchase out of the zero percent C of I account for up to 5 years. On the maturity date, the funds will be deposited and then debited out of the C of I account. And you don't lose any days of interest. Apparently, they have scheduled all these auctions in a way that the payment and the purchase dates all coincide. Even though you have to buy the 4 week t-bills on a Tuesday, the actual purchase date is on a Thursday which coincides with the maturity date.

Hope this helps.

[stngymama]

Originally Posted by goodtosave

Hope this helps.

Yes, Thank you very much!