Ask:
I have a handful of EE series savings bonds. I am not sure what to do with them. Or how to find out there current value a few aare 15 years old while some are around 10. They were giving for me for college.
Does anyone know if they would be better off being cashed out or how to find out if they are still gaining interest and at what rate.
Also, If you did cash them out what would you put them toward
A. Debt
B. Grad school plans (in Five years)
C. Retirememt (an IRA)
D. Emergency fund (we only have $1300 in ours so far)
E. Other
Answer:
Go here and you'll be able to find the value of your bonds!
I know that mine stop earning after 30 years, but I think that's typical of most. I have to be honest, I'm at a loss for where you should put the money once you cash it out. It depends on what your goals are.
Answer:
You might be able to get a tax break if you use them towards grad school. I don't know all of the rules for doing this so you should check with a financial advisor.
Answer:
Awesome thanks for the Link. I will have to look mine up. Unfortunaly they are locked up right now and DH has the key on him but Thanks!
Answer:
i just cashed my kids in and put the money in their investment accounts, generates more interest, even though loving and thoughful family members keep buying them for every holiday...
definitely put them towards debt!!!! if no debt then towards emergency fund
Answer:
I lose them!! No, seriously, I had a bunch in my office and lost them about a month ago.
but, if i could find them i would put them towards debt
Answer:
I had some forever that we finally cashed in about a year ago and put into other investments.
Dh was advised to buy series I bonds rather than EE bonds. You buy I-bonds at face value but the interest accumulates faster. I think. I really don't have a head for those kinds of things.
When ds received a lot of cash as gifts, we bought I-bonds with the money for him. He did receive a few EE bonds. We had to wait six months to cash them in for the amount paid and then we purchased more I-bonds.
Answer:
Savings bonds are long term investments. I'm not in favor of using long term investments to pay off debt. I'd roll the savings bonds over to H bonds or some other long term investment vehicle.
Answer:
Savings bonds are definately long term. My grandfather bought me a $100 savings bond in 1988 and I cashed it in in 2000 to buy a special gift for my wedding as he and my grandma had passed. It was only worth $90. I'd hang on to them as long as you can unless you really need the money.
Answer:
My grandma buys them for my kids for birthday, holidays and special occasions. Of course I accept them graciously but with three kids, I have boatloads of them now to keep track of. They are a pretty crappy investment and I would never buy them myself but it makes her happy and long after she is gone, my kids can use them to buy a semester of books or something.