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preciouslove
I love my DS!!!
Member since 5/05 9340 total posts
Name:
Blank
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About Bonds
DS got two of them on his christening day and DH went to the bank but came back with them cuz they said they don't deposit it them there??? I was confused and so was DH.
Has anyone gotten bonds for their DC's if so what is the deal about what you do with them?
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Posted 10/26/06 4:11 PM  |
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Long Island Weddings
Long Island's Largest Bridal Resource |
KPtoys
I'm getting old
Member since 5/05 8688 total posts
Name:
Karen
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Re: About Bonds
like savings bonds? Arent they the ones you keep for 20 years THEN cash them in?
Denominations Available: $50 , $75 , $100 , $200 , $500 , $1,000 , $5,000 and $10,000.
Issued: January 1980 to present.
Purchased for 1/2 of face value. An Example: a $100 bond in the past would have cost $50 at the time of purchasing it.
EE Bonds will earn interest for 30 years from issue date.
Series EE bonds are issued only in registered physical form and are not transferable.
There is a 3 month penalty for cashing in an EE Bond before it is five years old.
You can purchase up to $30,000 worth of EE Bonds annually (each calendar year). NOTE: You can purchase up to $30,000 in I Bonds as well, totaling $60,000 max annually.
Message edited 10/26/2006 4:16:33 PM.
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| Posted 10/26/06 4:12 PM |
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CunningOne
***
Member since 5/05 26975 total posts
Name:
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Re: About Bonds
You keep them in a safe place until the mature. I *think* its 30 years, but I could be wrong. I think it depends on the type of bond series...
They aren't worth the value of them. When you buy a bond, it is only 1/2 the value of it.
Message edited 10/26/2006 4:15:59 PM.
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| Posted 10/26/06 4:13 PM |
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Bxgell2
Perfection
Member since 5/05 16438 total posts
Name:
Beth
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Re: About Bonds
the bond has to "mature" before you can access the money. Depending on the bond, it can take upwards of 30 years. If you have a safe, or a safety deposit box at a bank, keep it in there until the bond matures. When I was in college, my father gave me a few bonds that were purchased for me when I was born and that's when I was able to cash them.
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| Posted 10/26/06 4:16 PM |
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Shroggie
Don't Worry...Be Happy
Member since 5/06 6261 total posts
Name:
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Re: About Bonds
You can cash them in and deposit them after 1 year, however, they will not be fully matured yet.
I would just keep them in a safe place for a LONG time.
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| Posted 10/26/06 4:20 PM |
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CookiePuss
Cake from Outer Space!
Member since 5/05 14021 total posts
Name:
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Re: About Bonds
What type of bonds are you talking about? Savings bonds, corp. bonds, munis????? All of them are negotiable but in different ways.
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| Posted 10/26/06 4:32 PM |
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preciouslove
I love my DS!!!
Member since 5/05 9340 total posts
Name:
Blank
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Re: About Bonds
They are savings bonds...
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| Posted 10/26/06 5:24 PM |
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CunningOne
***
Member since 5/05 26975 total posts
Name:
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Re: About Bonds
Posted by bedda26
They are savings bonds...
Then you should "save" them  until they mature.
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| Posted 10/26/06 5:42 PM |
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CookiePuss
Cake from Outer Space!
Member since 5/05 14021 total posts
Name:
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Re: About Bonds
Posted by bedda26
They are savings bonds...
You can cash them in if you want. You will be entitled to about 1/2 the face value since that was the purchase price. Personally, I don't like savings bonds because they have such a low rate of return but if you hold on to them, they will mature to the face value. The current rate is 3.7%. The interest is federally taxable expect in certain circumstances.
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| Posted 10/26/06 5:53 PM |
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hazeleyes33
LIF Adult
Member since 5/05 13060 total posts
Name:
Ginger
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Re: About Bonds
My parents saved all of ours from my grandparents and when I bought the house, we got tiling for the bathroom and a large ac with the money.
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| Posted 10/26/06 8:15 PM |
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JennChris
life moves fast
Member since 5/05 4225 total posts
Name:
Jenn
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Re: About Bonds
Keep them in a safe place until they mature.....
Just a suggestion to anyone that has savings bonds... Keep track of the serial numbers... I did it in this program Savings Bond Wizard . Our house was broken into and the safe was stolen with the bonds in them and because I kept track of all the serial numbers it was much much easier to report them quickly and get them replaced.
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| Posted 10/26/06 10:30 PM |
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preciouslove
I love my DS!!!
Member since 5/05 9340 total posts
Name:
Blank
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Re: About Bonds
Posted by JennChris
Keep them in a safe place until they mature.....
Just a suggestion to anyone that has savings bonds... Keep track of the serial numbers... I did it in this program Savings Bond Wizard . Our house was broken into and the safe was stolen with the bonds in them and because I kept track of all the serial numbers it was much much easier to report them quickly and get them replaced.
Thanks for the info...
Thank you all for your responses...
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| Posted 10/27/06 9:41 AM |
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MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
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Re: About Bonds
Posted by shamrock12472
Posted by bedda26
They are savings bonds...
You can cash them in if you want. You will be entitled to about 1/2 the face value since that was the purchase price. Personally, I don't like savings bonds because they have such a low rate of return but if you hold on to them, they will mature to the face value. The current rate is 3.7%. The interest is federally taxable expect in certain circumstances.
EE bonds are worth 1/2 the purchase price
I bonds are purchased at face value- then gain interest.
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| Posted 10/27/06 9:43 AM |
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CookiePuss
Cake from Outer Space!
Member since 5/05 14021 total posts
Name:
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Re: About Bonds
Posted by Meaghan729
Posted by shamrock12472
Posted by bedda26
They are savings bonds...
You can cash them in if you want. You will be entitled to about 1/2 the face value since that was the purchase price. Personally, I don't like savings bonds because they have such a low rate of return but if you hold on to them, they will mature to the face value. The current rate is 3.7%. The interest is federally taxable expect in certain circumstances.
EE bonds are worth 1/2 the purchase price
I bonds are purchased at face value- then gain interest.
They are even worse...their current rate is 2.41%.
As far as safety, you can convert your paper bonds to electronical securities.
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| Posted 10/27/06 9:57 AM |
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MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
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Re: About Bonds
They are even worse...their current rate is 2.41%.
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| Posted 10/27/06 10:06 AM |
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preciouslove
I love my DS!!!
Member since 5/05 9340 total posts
Name:
Blank
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Re: About Bonds
Geez what's the point of having some of these bonds if you are not going to get the full value of it. That is of course if you wait the 30 years...
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| Posted 10/27/06 10:27 AM |
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CookiePuss
Cake from Outer Space!
Member since 5/05 14021 total posts
Name:
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Re: About Bonds
Posted by bedda26
Geez what's the point of having some of these bonds if you are not going to get the full value of it. That is of course if you wait the 30 years...
Exactly why I am not crazy about them. You could get a MUCH better rate with a 1 year CD which is still a very safe investment and has a much shorter commitment. Plus, if you are planning on using the money for college, you may want to invest in something with a much better rate of return for the time horizon.
I hope Molly doesn't get too many, if any, of these.
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| Posted 10/27/06 10:31 AM |
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MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
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Re: About Bonds
Posted by bedda26
Geez what's the point of having some of these bonds if you are not going to get the full value of it. That is of course if you wait the 30 years...
it doesnt take 30 years to get the full value - the bond will gain interest for 30 years - meaning it can be worth more than face falue
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| Posted 10/27/06 10:36 AM |
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preciouslove
I love my DS!!!
Member since 5/05 9340 total posts
Name:
Blank
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Re: About Bonds
Posted by Meaghan729
Posted by shamrock12472
Posted by bedda26
They are savings bonds...
You can cash them in if you want. You will be entitled to about 1/2 the face value since that was the purchase price. Personally, I don't like savings bonds because they have such a low rate of return but if you hold on to them, they will mature to the face value. The current rate is 3.7%. The interest is federally taxable expect in certain circumstances.
EE bonds are worth 1/2 the purchase price
I bonds are purchased at face value- then gain interest.
So if DS got a 200 dollar bond then it's going to be worth 100 dollars?
I just looked at them before and it said EE on top so that's the type of series they are.
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| Posted 10/27/06 2:19 PM |
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MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
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Re: About Bonds
Posted by bedda26
Posted by Meaghan729
Posted by shamrock12472
Posted by bedda26
They are savings bonds...
You can cash them in if you want. You will be entitled to about 1/2 the face value since that was the purchase price. Personally, I don't like savings bonds because they have such a low rate of return but if you hold on to them, they will mature to the face value. The current rate is 3.7%. The interest is federally taxable expect in certain circumstances.
EE bonds are worth 1/2 the purchase price
I bonds are purchased at face value- then gain interest.
So if DS got a 200 dollar bond then it's going to be worth 100 dollars?
I just looked at them before and it said EE on top so that's the type of series they are.
no - if its an EE bond - and it says $200 on the bond - the person who bought it paid $100 for it - so its worth $100 now (unless you cash it in and are penalized - but for arguements sake its worth $100) - and starts to accrue interest - and when it matures (about 17-20 years?) it will then be worth $200.
but if you hold it after the 17-20 years, interest still accrues until 30 years - so if you hold on to it for 30 years it is worth more than the $200 face value.
HTH.
i think there is a website - savingbonds.gov or something like that - it has lots of info on it.
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| Posted 10/27/06 2:23 PM |
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preciouslove
I love my DS!!!
Member since 5/05 9340 total posts
Name:
Blank
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Re: About Bonds
Posted by Meaghan729
Posted by bedda26
Posted by Meaghan729
Posted by shamrock12472
Posted by bedda26
They are savings bonds...
You can cash them in if you want. You will be entitled to about 1/2 the face value since that was the purchase price. Personally, I don't like savings bonds because they have such a low rate of return but if you hold on to them, they will mature to the face value. The current rate is 3.7%. The interest is federally taxable expect in certain circumstances.
EE bonds are worth 1/2 the purchase price
I bonds are purchased at face value- then gain interest.
So if DS got a 200 dollar bond then it's going to be worth 100 dollars?
I just looked at them before and it said EE on top so that's the type of series they are.
no - if its an EE bond - and it says $200 on the bond - the person who bought it paid $100 for it - so its worth $100 now (unless you cash it in and are penalized - but for arguements sake its worth $100) - and starts to accrue interest - and when it matures (about 17-20 years?) it will then be worth $200.
but if you hold it after the 17-20 years, interest still accrues until 30 years - so if you hold on to it for 30 years it is worth more than the $200 face value.
HTH.
i think there is a website - savingbonds.gov or something like that - it has lots of info on it.
Thanks for the info. It helped a lot. Who cashes these bonds? The bank?
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| Posted 10/27/06 2:30 PM |
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