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savings bonds?
savings bonds?
I have 875$ worth of savings bond (according to the value printed on the savings bonds themselves) and the earliest one is from the year 2004. I have tried to find information about them online but I haven't been getting that much.
My understanding as of right now is that the savings bond do not reach their full value for up to 20 years but that it is best to cash them after 5 years. Before then if you cash them you will be losing money.
Can people who have receieved savings bonds please help me and explain this to me
I would like to cash one of them asap because I want to buy an i Pod
thanks
Answers:
Elizabeth99: There are a number of sites you can look for, including the US Treasury's own site. Google, for instance, "savings bond calculator" without the quotes.
Quick answer, the purchase price is 50% of the face value. So, in 2004 a $100 bond would be redeemable for $50.
I don't know where the cash after 5 years came from? The interest rates on savings bonds are really low, so it's better advice to say "don't buy them" than to indicate a specific time to cash them out. I have not heard of anyone receiving less than their purchase price between year 0 and year 5, but you can verify that on the Treasury site.
Good luck. iPods are more valuable than savings bonds, imho.
2008-03-15 17:33:11
Quick answer, the purchase price is 50% of the face value. So, in 2004 a $100 bond would be redeemable for $50.
I don't know where the cash after 5 years came from? The interest rates on savings bonds are really low, so it's better advice to say "don't buy them" than to indicate a specific time to cash them out. I have not heard of anyone receiving less than their purchase price between year 0 and year 5, but you can verify that on the Treasury site.
Good luck. iPods are more valuable than savings bonds, imho.
2008-03-15 17:33:11
imaqt-pi: depend on the bond. EE Saving bonds now take 17 years to mature and after 30 they do not collect any more interest. Your bonds need to be at least 1 year old before you can cash them. EE bonds-They are worth a little more than 1/2 of what they say they are worth. I-bonds are worth value on bond plus a small amount of interest.
If you are a minor, you need your parent (if divorce or separated parents - custodial parent only) or co-owner on the bond to cash these in.
www.treasurydirect.gov has a caluclator.
2008-03-16 00:17:50
If you are a minor, you need your parent (if divorce or separated parents - custodial parent only) or co-owner on the bond to cash these in.
www.treasurydirect.gov has a caluclator.
2008-03-16 00:17:50
Chosen Answer
Damn_I'm_Good: Start at half the face value for purchase price. Add about 4%/ year for Interest...
So you'd be looking at about $480 redemption value...
Foolish move, IMNSHO.... If you cannot control your urges to spend now, what are you going to do when you have a credit card with a $5K limit???...
2008-03-19 15:39:00
Damn_I'm_Good: Start at half the face value for purchase price. Add about 4%/ year for Interest...
So you'd be looking at about $480 redemption value...
Foolish move, IMNSHO.... If you cannot control your urges to spend now, what are you going to do when you have a credit card with a $5K limit???...
2008-03-19 15:39:00