I usually get asked what to do with excess cash savings. I never really have a GREAT answer. Rates are just too low and the only way is to take some sort of risk.

Well in this limited case, not anymore.

Series I Savings Bonds through the US Treasury are now earning 7.12%. If you have excess cash that you don’t think you will need for at least a year (but ideally five years) then these are a good bet. There are a few caveats:

1. The rate is adjustable. It will not earn 7.12% f