US Savings Bonds

Archive for November, 2006

Question: Need legal advice…………………..?

My adult Son, has a severe back problem and after fighting for 4 years has finally been awarded Social Security disability. Along with the award comes medicaid and along with all of this comes a rule that says he cannot have more than $2,000.00 in assets. He has nothing but Years ago I bought a $25,000.00 US savings bond in his name. He knows nothing of this Bond and I forgot about it until just after he got his award. I cannot cash the bond since it is in his name but if he cashes it, it will put him above the $2,000.00 asset limit. What can I do to insure that he continues to receive his SSI ?

Answer: Tell SSI immediately..

President Obama and President Sarkozy at the White House

Question: savings bond?

my friend wants to get like 2 $50 and 2 $100 savings bond. They hope 10 years later it will turn into alot of money.

- What should they know b4 getting one.
-which type is the best? E or I
- what Interest rates are good?
-what is the best bank to go to?

Answer: I think I Bonds are great. If inflation is high, your interest on the bond goes up. E Bonds have guaranteed return. I Bonds have a variable one. you can buy them online @ www.treasurydirect.gov

How and Why to start Saving when your young!

Question: I am young–what are my investing options??

I am 24 and would like to start putting my money some where so when i retire i can live comfortably– only thing is i do not have a huge lump sum to give someone i would like to start small real small and add a little bit each monh my definition of small is like 100 now and add maybe 25-50 a month it is not much but again i am young and hopefully some time down the road i will be able to put more $$ in monthly

i looked up bonds but the return rate is pathetic along with savings i cant save cd’s need 500min it seems like so what is there 401k i am starting this but anything else?

thanks

Answer: Since you need to have your money available to you in case of emergencies, I would consider a ROTH IRA. I’m in your position but older. I’ve read quite a bit about them and like the concept. You might want to read more about them at www.suzeorman.com. She also has several books that can help you build a strong financial basis on which to live now and retire later. I like that she tells it how it is and does not pull any punches. Check her out on CNN Saturday nights. Good luck, life is a crapshoot.