XOXO

I usually get bonds for my neices and friends kids for Christenings and stuff. It's pretty simple. Go to the bank and tell them you need a bond and they give you a form to fill out. Put the baby's name (DH said he always puts a parent as a coowner (or benificiary) or soemthing - I never did till the last time when the teller told me I might want to ) Then they ask for a SS#, but if you don't have the beby's, you can put your own. The bank has told me that it really doesn't make a difference. Then fill out what amount you want and bring it to the teller and they will give you a little cerificate you can fill out to put in the card.

Yes, the amount is worth twice as much what you pay for them. And they do mature, but after years and years.

A lady I used to work with who was about in her mid 50's, had savings bonds (alot of them) that were about 30+ years old..........about 2 years ago she went to the bank to see how much they were all worth.........close to $1M. She almost fell over........so when I heard her story, I bought quite a few for me and FH. (I mean DH, not FH)--LMAO>

You just never know.......especially since you forget about them and then before you know it, so many years have passed and they're worth something. I always buy bonds for babies as gifts. They are great.

You need the parent's addresss, too. They mail it there. I'm not sure if you can do it as a shower gift, b/c you need the baby's name.

If you put the parent as a co-owner, the parent can go to the bank alone to cash in it, etc.

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Posted by tray831

Yes, the amount is worth twice as much what you pay for them. And they do mature, but after years and years.

A lady I used to work with who was about in her mid 50's, had savings bonds (alot of them) that were about 30+ years old..........about 2 years ago she went to the bank to see how much they were all worth.........close to $1M. She almost fell over........so when I heard her story, I bought quite a few for me and FH. (I mean DH, not FH)--LMAO>

You just never know.......especially since you forget about them and then before you know it, so many years have passed and they're worth something. I always buy bonds for babies as gifts. They are great.

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I thought they only mature to the amount they were purchased for - Like, you pay $0 when it matures yu cash it for $100. So, what this woman said is that they matured for more then that? Or, just that she had so many and never realized it?

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Posted by oneday

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Posted by tray831

Yes, the amount is worth twice as much what you pay for them. And they do mature, but after years and years.

A lady I used to work with who was about in her mid 50's, had savings bonds (alot of them) that were about 30+ years old..........about 2 years ago she went to the bank to see how much they were all worth.........close to $1M. She almost fell over........so when I heard her story, I bought quite a few for me and FH. (I mean DH, not FH)--LMAO>

You just never know.......especially since you forget about them and then before you know it, so many years have passed and they're worth something. I always buy bonds for babies as gifts. They are great.

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I thought they only mature to the amount they were purchased for - Like, you pay $0 when it matures yu cash it for $100. So, what this woman said is that they matured for more then that? Or, just that she had so many and never realized it?

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yeah...I agree, the $1m doesn't sound right at all - kind of preposterous really. I recently cashed in a bond that was 25 years old and I was really dissapointed with how much it matured.

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Posted by johnsae

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Posted by oneday

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Posted by tray831

Yes, the amount is worth twice as much what you pay for them. And they do mature, but after years and years.

A lady I used to work with who was about in her mid 50's, had savings bonds (alot of them) that were about 30+ years old..........about 2 years ago she went to the bank to see how much they were all worth.........close to $1M. She almost fell over........so when I heard her story, I bought quite a few for me and FH. (I mean DH, not FH)--LMAO>

You just never know.......especially since you forget about them and then before you know it, so many years have passed and they're worth something. I always buy bonds for babies as gifts. They are great.

---

I thought they only mature to the amount they were purchased for - Like, you pay $0 when it matures yu cash it for $100. So, what this woman said is that they matured for more then that? Or, just that she had so many and never realized it?

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yeah...I agree, the $1m doesn't sound right at all - kind of preposterous really. I recently cashed in a bond that was 25 years old and I was really dissapointed with how much it matured.

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Oops--sorry just read this.....Yeah, the reason she was able to get so much is b/c she had high denominations of them. Not $50, $100 ones.......she had lots and lots of $500-$1000+ bonds.....Her and her husband had invested in lots of savings bonds when they had gotten married, so I guess b/c her denominations were so much higher, the interest rates were thru the roof and she ended up making out. She still hadnt cashed them.....I know she said some bonds had stopped their interest and some wouldnt get any higher than what they were.

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Posted by MonkeyLuv

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Posted by oneday

I usually get bonds for my neices and friends kids for Christenings and stuff. It's pretty simple. Go to the bank and tell them you need a bond and they give you a form to fill out. Put the baby's name (DH said he always puts a parent as a coowner (or benificiary) or soemthing - I never did till the last time when the teller told me I might want to ) Then they ask for a SS#, but if you don't have the beby's, you can put your own. The bank has told me that it really doesn't make a difference. Then fill out what amount you want and bring it to the teller and they will give you a little cerificate you can fill out to put in the card.

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And how do they work? The amount is twice what you pay, right? Do they mature?

Mr Boots mentioned this idea, but I don't know much about them!

Thank you!

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Savings EE bonds are sold at half their face value at a fixed rate. They mature in 20 years. If they are not redeemed after 20 years, they will continue to earn interest for the next 10 and they that's it. If they are issued in the parent's name, they may be able to be used as 'educational' bonds for secondary education and interest may be tax free. Phantom interest is credited to the bonds annually and you can claim it but if you don't, ordinary income tax will be due when redeemed.

I think there are much better options for investment dollars then EE bonds. Who wants something that takes 20 years to double your money? Give cash, that way the parents can decide where and how to invest - like 529 or UTMA accounts.

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Posted by 2003wedding.

you can also have the bond sent to your house--if you order the bond early enough, you can then give the bond as the gift instead of the certificate the bank gives you.........from what i know the bond only matures to a certain amount ($25 will mature to $50, etc.) not over and i think they only mature to the full amount if you wait the full maturity period......also you should put the bond in your brother's name as co-owner

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This is incorrect.
If you hold onto the bond, it will mature for more than what the value is. I know I had $100 bonds that when I cashed them in were over $100.

Also, I would NEVER put a parent as a co-owner. As much as I love my friends and family, you never know what their financial situation is. I put a parent as a beneficiary if, God forbid, anything happens to the child, only then will the parents gets the money.

I buy a bond for the child, not so that the parent can one day cash it in if they need a quick buck.

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Posted by VickiC

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Posted by 2003wedding.

you can also have the bond sent to your house--if you order the bond early enough, you can then give the bond as the gift instead of the certificate the bank gives you.........from what i know the bond only matures to a certain amount ($25 will mature to $50, etc.) not over and i think they only mature to the full amount if you wait the full maturity period......also you should put the bond in your brother's name as co-owner

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This is incorrect.
If you hold onto the bond, it will mature for more than what the value is. I know I had $100 bonds that when I cashed them in were over $100.

Also, I would NEVER put a parent as a co-owner. As much as I love my friends and family, you never know what their financial situation is. I put a parent as a beneficiary if, God forbid, anything happens to the child, only then will the parents gets the money.

I buy a bond for the child, not so that the parent can one day cash it in if they need a quick buck.

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The reason for naming the parent as an owner would be for tax issues. The bond can only be used as 'Educational' bonds if the bond is in the parent's name; among other things like being under the threshold. If used for qualified secondary education expenses, the interest may be tax free. Should the bond be in the name of the child, the interest is taxable and can be subject to 'kiddie' tax codes.

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Posted by VickiC

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Posted by 2003wedding.

you can also have the bond sent to your house--if you order the bond early enough, you can then give the bond as the gift instead of the certificate the bank gives you.........from what i know the bond only matures to a certain amount ($25 will mature to $50, etc.) not over and i think they only mature to the full amount if you wait the full maturity period......also you should put the bond in your brother's name as co-owner

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This is incorrect.
If you hold onto the bond, it will mature for more than what the value is. I know I had $100 bonds that when I cashed them in were over $100.

Also, I would NEVER put a parent as a co-owner. As much as I love my friends and family, you never know what their financial situation is. I put a parent as a beneficiary if, God forbid, anything happens to the child, only then will the parents gets the money.

I buy a bond for the child, not so that the parent can one day cash it in if they need a quick buck.

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i always put the parent as the co-owner--if the parents are that desperate that they need to take money from their kid-that's pretty sad-anyway, for that matter, if you are giving cash or a check the same thing could happen.......

i am glad though that a bond can mature past what the double value is---i still have bonds that i am waiting to fully mature and now i'll wait past the maturity date........

For those of you that are interested, here's a link to find out how much your bonds are worth

Savings Bond Calculator