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08-23-2010, 10:47 PM
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Savings Bonds - cash them in?
My grandfather gifted us savings bonds every birthday and holiday growing up. I have a pretty large total, but I know a few of them aren't fully matured yet. My husband and I have been tossing around the idea of cashing them all in and putting them someplace else to make $. We don't need them for cash purposes now. The thought is to save the total for our kids.
Cd's aren't paying well, we could always buy stock, or probably make the same return rate sitting in a savings account. What would you suggest? Leave them? Cash and invest in a different forum? 
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08-24-2010, 07:59 AM
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If you want to cash them in, you can transfer the money to a 529 plan to help pay for college for your children. The money is then tax advantaged in many states and counts as your money, not your child's for the purpose of FAFSA. Finally the growth is not federally taxed.
Check the rates and maturity date on the fed website first at TreasuryDirect
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08-25-2010, 07:28 AM
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My father would say cash them all soon, cause the govt is going to fail and they will be junk.
He would recommend buying gold or silver to have in hand with the money. I wouldn't suggest anything. I'd be the idiot who put off dealing with them due to fear of doing it wrong.
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08-25-2010, 08:00 AM
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Your bonds may be making more than you think. Go to Calculate the Value of Your Paper Savings Bond(s) and input the information on your bonds and you will see what your bonds are worth and the rate they are receiving. We have 5 EE bonds that are earning 4.00%. and 2 that are earning 2.04%.
We bought an EE bond for our granddaughter that is earning 3.40%. My son has has 5 EE bonds that are earning 4.00%. Believe me, those are pretty good rates today compared to savings and CD rates. Check before you sell them.
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08-25-2010, 09:28 AM
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Do you have any CC debt?
Any School loans? Are you still paying on a mortgage? Car payment? How long would you be able to put the money away for? more or less than 5 years? If yes to any of the 1st 4 - cash out enough to pay off debt. If more than 5 years, likely cash out and put into Roth IRA - invest in mutual fund of some sort. If less than 5 years, keep as is.
__________________
-JPG `It is more blessed to give than to receive.' Acts 20:35b
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