上周六帮我妈整理抽屉，翻出一沓理财到期单，好家伙，去年她不听劝买的那只 "预期收益 8%" 的产 品，实际到手才 3 个多点！气得她直拍大腿，反观我随手给她选的两只不起眼的产品，收益居然一分没 差，还多赚了杯奶茶钱。说真的，2025 年这理财市场，别信那些 "躺着赚钱" 的鬼话，想保本还能捞点 好处，就得靠 "笨办法"—— 我踩过的坑，你们可别再跳了！ 先唠唠保本理财怎么挑。前阵子我熬夜查 8 月的兑付数据，眼睛都快看花了，发现现在靠谱的还得是固 收和固收 +。平安有只叫 "启元夏树" 的产品，收益居然飙到六个点以上，我当时还以为看错了，翻持 仓明细才发现，人家九成以上都是债券，股票就沾了点边，跟撒了把葱花似的。所以选这类产品，别光 盯着收益数字，得扒开表面看里面投了啥，要是债券占比能到七成以上，基本就能放心，不然很容易踩 雷！ 南银理财那几只两年期的也还行，收益四个多点，风险等级是中低。我同事小李去年买了，到期那天特 意发朋友圈晒截图，说比存银行定期划算多了，还不用天天打开 APP 盯盘，省了不少心。不过有个事 儿得提醒你们，这类封闭式产品中途取不出来，要是你手头上的钱可能随时要用，比如等着给孩子交学 费、 ...

Core Viewpoint - The Ministry of Finance announced the issuance of the third phase of savings bonds for 2023, totaling 50 billion yuan, with interest rates of 1.63% for 3-year bonds and 1.7% for 5-year bonds, reflecting a decrease of 0.15 percentage points compared to the same period last month [1]. Group 1: Bond Issuance Details - The third phase of bonds has a 3-year term with a maximum issuance of 25 billion yuan, while the fourth phase has a 5-year term with the same maximum issuance [3]. - The issuance period for both bonds is from June 10 to June 19, 2025, with interest payments made annually on June 10 [3]. Group 2: Comparison with Bank Deposits - Current interest rates for state-owned bank deposits are lower than those of savings bonds, with a maximum of 1.55% for 3-year deposits and 1.30% for 5-year deposits [3]. Group 3: Advantages of Savings Bonds - Savings bonds offer capital protection with 100% principal and interest repayment at maturity, making them suitable for risk-averse investors [5]. - The minimum purchase amount is 100 yuan, significantly lower than large-denomination time deposits and bank wealth management products [5]. - Savings bonds provide high flexibility, allowing for early redemption and some banks offering pledge loans [5]. Group 4: Limitations of Savings Bonds - The returns may lag behind inflation, potentially reducing purchasing power over the long term [6]. - Popular issuance amounts may sell out quickly, requiring attention to official announcements [6]. - Early redemption incurs a 0.1% fee, and no interest is paid if held for less than six months [6]. Group 5: Investment Strategies - For short-term funds (within 1 year), 30% can be allocated to short-term bond reverse repos with annualized returns of 2.2%-2.8% [7]. - For mid-term funds (1-3 years), 50% can be allocated to 3-year savings bonds, with the option to borrow against them if needed [8]. - For long-term funds (over 3 years), the remaining 20% can be invested in savings bonds to lock in higher rates, avoiding immediate redemption after five years [9]. Group 6: Overall Market Context - In a declining interest rate environment, savings bonds remain a "safety cushion" for ordinary individuals to protect their wealth [10]. - Utilizing bond reverse repos for short-term liquidity, combined with different maturity savings bonds, can create a "pyramid" investment strategy to meet unexpected cash needs while minimizing interest losses [11].