TIPs, or Treasury Inflation Protected Securities, were released in 1997. They function like normal treasuries with different durations but offer protection from inflation. On the other hand, Series I Savings Bonds were added to the traditional savings bond program. They provide a fixed rate of return over 30 years, along with inflation protection.
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Please note that the information contained in this post is for educational purposes only and should not be considered tax advice. Always consult with a tax professional to assess your specific tax situation.