US Savings Bonds

Archive for September, 2008

Question: Obama is responsible for the continued stock market fall?

Everything says obama will be president

Obama should never said he was raising taxes on the rich..now they are hurting us big time.They are destroying the stock market.

I talked to friends of mine today about the stock market..they sold all their stocks 2 weeks ago… i asked why …i got the same answer from all of them….obama will be president..and I don’t want to pay the extra taxes..sell now and pay this year while it is still cheap..they are putting it in bonds

Obama will become president with the economy a bleached bone corpse.

Now that the exodus has started it will not stop unless Obama loses.

It was not this bad during jimmy carters time.

I am to old to have my savings in the stock market….too risky…..its all in the us bonds.
guess who gets fired first..obama supporters

Answer: get a grip on reality

TurboTax Winner for Americas Cutest Last-Minute Tax Deducti

A complete overview of EE Series Bonds, Part IV

(c) Copyright 2006 by Harold Pennington 

Interest Penalty on Series EE Savings Bonds

An interest penalty of three-month’s worth of interest will be applied to bonds held less than five years from issue date. This rewards longer-term bond holders who benefit from higher 5-year rates over the full life of the bond. 

For example, if you buy an EE Series Bond and redeem it 24 months later, you’ll get back your original investment and 21 months’ worth of interest. The value of the bond would be based on the announced rates applied over the initial 21-month period. 

Tax Advantages of Series EE Savings Bonds

My favorite consideration about any given investment is always how well it gets around taxation. Considering this is issued by the government, it should have a good advantage here too, and it does. First off, all interest earned on your Series EE Bonds is exempt from state and local income taxes. Also, you can defer federal income tax until you redeem the bond, or it stops earning interest after 30 years. 

Finally, special tax benefits are available for many different types of educational savings. If you qualify, you can exclude all or part of the interest earned on EE Bonds from income when the bonds are redeemed to pay for post-secondary tuition and fees. 

So basically, the only tax you’ll ever have to pay on these great little investments is when you redeem them, only on the federal level, and then only if you can’t find some way to credit some form of educational experience by you, your spouse, or one of your dependants. 

Compared to higher-yield investments like Mutual Funds, the taxation benefits on Series EE Bonds alone make this a much more attractive option.

Question: Do you or your spouse still have a collection from your childhood?

If so, what did you collect?
Is it on display or boxed up?
Do you think you will ever ‘give it up’?

I’ve gotten rid of most of my stuffed animals from childhood (though lots were donated or passed on to my 21 month old son). I’ve gotten rid of my bank collection from when I was small, but I still have boxes and boxes of Wizard of Oz books, cds, movies, snow globes, music boxes, so on and so on packed away at my mother’s house. I keep thinking one day these will make great hand me downs or pass me downs to a daughter, but part of me thinks it’s silly when I could sell these things and use the money for other things…Savings Bonds, medical bills, a savings account for my son….I’m wondering if anyone else has dealt with this…..I almost feel like I should keep a few and get rid of the rest, but so much time and money has been put into the collection!

Answer: Oh gosh-hubby has a collection of Hess Trucks and still gets one every year for Christmas from his dad. It’s in totes in the closet and it takes up so much freaking room; hubby claims he’s going to sell them all on ebay someday and use the money for retirement. Hate to burst the bubble on that one…lol

Wealth Building Wizard Lifetime Mentor Offer