Not sure where to post this, here or in marketing, but will give it a shot here.

We have a pretty good batch of $50 government I bonds here (in a safe place) that my wife accumulated over the course of several years, starting in 2001, if I remember right, while participating in a paycheck deduction program that was eventually discontinued.

We need a refresher on the rules with these I bonds, and what the best thing would be to do with them.

If I remember right, and am correct, these bonds have to go 5 years to mature at full face value? Then at maturity, if not redeemed, they continue to accumulate interest until redemption? What is the redemption process, take them to a bank for redemption? If they do accumulate interest starting at maturity, at what rate of interest?

Where would be the best place to put that money? Maybe a mutual fund? Stocks? What? My thinking is to redeem like 1 per pay period, so that they all wind up running the same approximate length of time.

What about any taxes? Also, my biggest concern is that if we let them go too long, and the federal government would go bankrupt, they would become worthless pieces of paper.

Any insight is appreciated. TIA!

JDH