Thinking of purchasing I Bonds -- couple questions

[YodaRules in NC]

Have my "emergency funds" parked in ROTH with my credit union earning less than 1% and laddered so $6,500 can be withdrawn (with no penalty) as $13K now and $6.5 K annually for next 3 years. Interest on ROTH is taxable both Federal and State. Thinking of taking out the $13K and purchasing $10K I Bond now and another $3K in January (adding $2K from Money Market account). I understand future interest on Bonds are taxable Federal but not State.

My questions are...... can I purchase four $2.5K at one time with the $10K (in the event something happens down the road and I need some funds -- which I do not anticipate)? After 5 years, should I cash in some bonds, am I correct is assuming there will be no taxes at that time?

If it helps, I'm 71 in relatively good health, live in a 55+ apartments, and able to pay all bills with my monthly income with a small amount left over.

Thanks to all who take the time to direct me.

 

[Chet]

Look here for all kinds of bond info. https://www.treasurydirect.gov/BC/SBCPrice

 

[HoneyNut]

My questions are...... can I purchase four $2.5K at one time with the $10K (in the event something happens down the road and I need some funds -- which I do not anticipate)?

That's a really good question. I don't know, this year was the first time I ever bought an I bond and I thought the purchase would result in a bunch of little i bonds but apparently it is just one big i bond.

But, the good news for me if I encounter your scenario of wanting to cash out just some, is that according to their FAQ it appears to be able to cash out a partial amount of an i bond:

How much can I cash at one time?​

Electronic bonds in TreasuryDirect

You can cash a minimum of $25 or any amount above that in 1-cent increments. If you cash only a portion of the bond's value, you must leave at least $25 in the TreasuryDirect account. Redemptions are comprised of principal and interest. (In a partial redemption, we pay interest only on the partial amount you cash.)

 

[OneEyedDiva]

You might want to check out this thread which got quite a few responses: See if it helps.
https://www.seniorforums.com/threads/are-i-bonds-the-best-place-to-park-short-funds.50287/