Quote:
Originally Posted by enorth
Thanks for the advice. I'll look into getting a book or two.
Would you say cashing in my bonds and throwing them into a Roth would be a good move right now?
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enorth,
It depends on several variables. Are they in your name? Are they savings bonds? Are they earning an excellent interest rate? Would you take a penalty by cashing them in now? Also, you need to make sure the kiddie tax rules won't impact you. The kiddie tax kicks in when you can be claimed as a dependent by your parents on their tax return and you have unearned income over a certain threshold. ( It results in a bigger tax bill for you. If this might apply, you should carefully time cashing in your bonds so as not to trigger this extra tax. )