US Savings Bonds

Archive for January, 2009

Question: If I cash in a US Savings Bond before the maturity date, will I still get the same amount back I paid for it?

Answer: Yes,
If I am understanding your question correctly….
The savings bond with a face value of, lets say, $50.00 will cost you 25.00. If you cash it in before its maturity date you will get your 25.00 back (but if more, dont forget to report it on your taxes) at the time you cash them in you will have to fill out a paper and the IRS will sendyou a form that you must use on your income tax return
There is a schedule at the government website that will tell you what they are worth NOW and you can also convert your paper bonds into ‘virtual bonds’.

Go to the us treasury and get the information there

Doug Flynn, CFP on CNN’s Daybreak with Carol Costello and Ali Velshi

Question: Who can give me some advice concerning US Savings Bonds?

Mother gave me some cash and asked that I get a US Savings Bond for my Newborn Son. I have to plead total ignorance regarding them. Can anyone give me some plain english advice? EE vs. I Bonds, Paper vs. Electronic? Is it a feasable investment option versus just keeping it in a Savings Account that I already set up?

Answer: Open your online account with a “Minor Linked Account” (custodial account) for your son at www.treasurydirect.gov
Once you open the account you can purchase bonds for him.

I buy U.S. Series I Savings Bonds for my girlfriend’s granddaughters each Christmas and on their birthdays.
I just hold the bonds in the “Gift Box” of my account for them since I am not their legal guardian and could not open a custodial account for them.

Note: The advantage of holding bonds in a U.S. Treasury Direct account is that there are no paper certificates that can be lost or destroyed in a fire.

Also, the next time you want to buy a bond all you have to do is log on to the website from your home computer and schedule another bond purchase. It takes no more than 3-5 minutes once the account is set up.

To get some basic information:

Go to the website and click on “Savings Bonds as Gifts” on the left side of the screen in the Quick Links for Individuals section. When the next page comes up click on “Minor Linked Account”. This will take you to a page that will explain the types of accounts at the top of the page and when you scroll down the page it explains the types of bonds available.
Example: EE bonds, I Bonds.

Big Chuck and Lil’ John Godzillathon 4: Rodan