to mymartes (re savings bonds)

iVillage Member
Registered: 03-31-2003
to mymartes (re savings bonds)
1
Thu, 06-05-2003 - 8:54am
I was reading the fabulous post about Heather's dream jar, and got interested in your story about how you have developed savings for your twins.

About the savings bonds: if they are EE bonds, they were purchased for 1/2 the face value (250/ea) and are guaranteed to reach face value (500/ea) in 17 years (orig maturity). They will continue to earn interest beyond that for up to 30 years (final maturity). If they are I bonds, they were purchased for the face value, and will earn interest on that amount for up to 30 years. I *love* savings bonds and visit this website frequently: http://www.savingsbonds.gov

If you begin purchasing additional bonds for the twins' education (you can get them for as little as $25 if you go the EE route), you will receive significant tax breaks (pay *much* less in taxes on the interest when they are cashed).

Hope this is helpful info...I think savings bonds are the unsung heroes of the slow but steady savers :)

Brittany




Avatar for mymartes
iVillage Member
Registered: 03-26-2003
Thu, 06-05-2003 - 10:49am
brittany,

thank you for the info. it was very helpful. they are ee series.

mym