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Investing & Portfolios · U.S. Treasuries

Treasury & Bond Ladder Planner

Plan maturity dates, coupon income and available cash.

Quick ladder

Illustrative defaults · no live Treasury quotes.

Advanced settings · instruments and assumptions

Future rates apply only to new hypothetical positions. Coupons stay cash. Future fixed-coupon terms round up to full6-month periods (minimum6months). The horizon never forces a sale.

This explicit action replaces settlement and maturity dates. Remaining terms do not establish new-issue availability.

Estimated cash flow

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Choose a type to send it. Your calculation entries are not included.

How it works

Build a dated Treasury ladder and estimate coupons, maturity proceeds and remaining cash. Enter your own instrument assumptions; no auction price or future yield is guaranteed.

Price Bills using the named bank-discount convention and actual holding days. Price regular fixed-principal Notes/Bonds from clean price plus accrued interest. Allocate permitted face denominations within each budget, schedule semiannual coupons and redemption, and keep all residual cash. Reinvest only maturity proceeds using separate hypothetical future rates. Payments on the endpoint are included; new reinvestments occur only before it. MicroUSD planning precision is retained; actual broker or Treasury settlement/coupon rounding to cents may differ.

Bill price = face × (1 − bank discount rate × actual days /360). Rate is a decimal; this is not investment yield. Bill interest = face − purchase price; it is part of redemption cash, not an additional cash payment.

Clean cost = face × clean price per100 /100. Semiannual coupon = face × annual coupon rate /2. Regular Actual/Actual accrued interest = coupon × elapsed days / full coupon-period days. Settlement cost = clean cost + accrued interest.

Closing cash = opening cash + coupons + redemptions − purchases. Cash + outstanding book cost = initial capital + realized economic income. Accrued interest recovered is excluded from newly earned coupon income.

Dated yield estimate solves settlement cost = Σ cashflow / (1 + annual yield)^(actual days /365). This effective annual ACT/365 estimate is not an official auction or bond-equivalent yield quote.

Verified worked examples

For $1,000 face, a0.145% bank discount and182days:1000 × (1 −0.00145 ×182 /360) = $999.266944, displayed$999.27. Discount income is approximately$0.73. Separately, the illustrative $50,000 ladder at par with five$10,000 rungs,4% coupons and1–5-year remaining terms generates$6,000 of coupons over five years without reinvestment.

Scope and interpretation

Illustrative pretax planning; no security selection, order, execution price or personalized advice. Default coupon and future reinvestment rates are assumptions, not official observations.

Remaining maturities are hypothetical secondary-market configurations. Notes are originally issued at2/3/5/7/10years and Bonds at20/30years; an arbitrary rung does not establish new-issue availability. Broker lot sizes may exceed the selected$100 increment.

Contractual coupon periods remain unchanged. Payments on weekends or Federal Reserve holidays move to the next bank business day without extra interest. Current Reserve Bank holiday rules are projected into future years; extraordinary closures and future law changes are not predicted. Regular coupon dates are inferred from maturity only after you select the regular schedule convention. Irregular coupons require issuer details and are unsupported.

Outstanding holdings remain at clean cost plus unrecovered accrued interest, not a forecast market price. They are not liquidated at the horizon. Reinvestment buys a hypothetical new position, not a guaranteed future auction. Future fixed-coupon terms round up to full six-month periods, minimum six months, so a short remaining term cannot multiply the annual coupon rate. Bill rolls retain their contractual holding-day term. Zero coupon inputs are sensitivity assumptions, not a claim about currently available new issues. Coupons remain in uninvested cash with no cash interest.

TIPS principal indexation, ETFs, FRNs, STRIPS, corporate/municipal bonds, early sales, inflation and personal taxes are outside this fixed-principal model. Treasury interest is generally federally taxable and exempt from state/local income tax; your status and other tax rules still matter.

Limits: USD; initial capital0–$100million in cents;1–12rungs;1–30year plan;2022–2100start dates; at most2000potential positions. Values are tracked at cost, not market price. No personal income-tax calculation.

Assumptions & sources

Source methodology verified2026-10-31. No live market observation is prefilled. Official URL access and numerical evidence are evaluated separately. User entries are not verified quotes. Rates, availability and regulations may change; official websites can restrict access by network or location. U.S. accessibility was not verified.

Registry reference status

Detailed TIPS are unsupported. Treasury interest is generally subject to federal income tax and exempt from state/local income tax; residency, market discount and other rules require separate review. No tax drag is deducted here.

FAQs
How does a Treasury ladder work?

Different maturity rungs return principal on different dates. Coupons and maturity cash are shown separately. Reinvestment is optional and uses explicit hypothetical rates.

Is bank discount rate the same as investment yield?

No. Bank discount uses face value and a360-day basis. The dated yield estimate uses actual cash cost and ACT/365 compounding. Neither is automatically a coupon rate.

Why does a premium bond cost more than face value?

Clean price can exceed100 per100face, and accrued interest can add to settlement cost. Redemption still returns face. The premium reduces economic income compared with coupon cash alone.

Is recovered accrued interest new income?

No. You advanced that amount at purchase. The first coupon repays it before the remainder is counted as newly earned coupon income. This accounting is not a personal tax calculation.

What happens to cash below a purchase increment?

It stays in cash. The planner never normalizes allocations or spends more than a rung budget. Manual allocations below the total leave additional unallocated cash.

Are the maturity dates actual auction offerings?

No. Default dates and rates are hypothetical. Enter a verified security’s dates and prices from its announcement or broker quote, then check settlement, coupon regularity and lot size. The tool does not verify your manual entries.

What if the plan ends before maturity?

Outstanding face and book cost remain visible. No maturity payment or sale is invented. Cashflow tables include only payments through the selected endpoint; delayed payments remain outstanding.

Can I model TIPS or use a Treasury par curve as an execution price?

Detailed TIPS are unsupported because CPI index ratios and adjusted principal require a separate model. A par yield observation is not an auction execution price and does not establish future coupon or reinvestment rates. Inspect official sources separately.