Found Money

[jbjr12]

Yesterday I received an envelope from the Treasury department. Inside were savings bonds (quite a few). They were bought between 2001 and 2006. I don't remember buying them but I must have set up a recurring purchase when was in the military because they run for about the same period of time in a regular time frame.

All the bonds are I series and are mature (past the 5 year purchase date). Technically I'm just finding my own money again but it's still a good feeling. Like reaching into an old pair of jeans and finding cash you forgot about.

Now I'm wondering what to do with them. I can redeem them without penalty since they are all past the 5 year point. I have an emergency fund and put about 25% pre-tax earnings into savings (long and short term). My only debt is a mortgage and 0% car loan. I had been thinking about putting some "just in case" cash in my safe deposit box and the dollar value is just about what I had planned. So I'm thinking about just dropping them there and forgetting about them again. They are currently earning 1.94% interest.

Just looking for other ideas of what to do with them if i were to cash them out.

Thanks.

[bjl584]

Maybe just leave them alone for now. You're not going to find 1.94% interest in many other places.

[snafu]

Are you eligible for a ROTH? I suggest putting $ 200. in your home safe for cash needed in a serious emergency like police ordered home evacuation and the remainder in a ROTH choosing low cost, low fee product that meshes with the holdings in your employer's 401K. If you hold cash you are losing spending power due to inflation it translates to major risk and going backwards. The increasing cost of food and gas for cars is astounding!