Does anyone know about EE bonds?

[bettyandbob]

I came across one in our fire box. I guess someone got it for my oldest. It's 20 years old now. Can ds cash it now? Where? If he doesn't cash it, does it still accrue interest?

[Pawz4me]

Oldest DS cashed some in last summer.  We went to a local bank where I have an account (we tried our credit union, but were told they didn't deal with savings bonds).  DH found a website where he looked up the value of all of them, but I have no idea what that site was.

[SparklyUnicorn]

https://www.treasurydirect.gov/BC/SBCPrice

 

You can look up the value there.

 

 

[SparklyUnicorn]

They earn interest for up to 30 years. 

[kewb]

They earn interest for 30 years. I always let mine acrue interest for as long as possible. You can cash them at your bank.

[happi duck]

We have some that I'm thinking of cashing in. If I'm reading it right it looks like it doesn't get taxed if put toward tuition. I'm not sure though.

[Lolly]

THe not taxed when used for college is not necessarily true any longer. There are income guidelines that have been put into being so that people who have a little money are still taxed. (Dd cashed one in this past year. The tax on that sucker was impressive. She is still in college and claiming herself on taxes.) When they were purchased for her, the rule was that no tax would be collected if used for education. But, can't allow any possible tax money to be kept from the government.

[gardenmom5]

go cash it in - whether it has matured or not.  the interest rate on those is a great deal for the gov't and a lousy deal for the consumer.  (my grandmother was very fond of them..... )

[SemiSweet]

Hm, not to intrude on someone else's thread, but we have like $10k of these things under my bed, we were intending them towards our kids education even though they're in dh's name, would they be taxed? Maybe we should cash them in and put them into their 529s?

[TechWife]

Hm, not to intrude on someone else's thread, but we have like $10k of these things under my bed, we were intending them towards our kids education even though they're in dh's name, would they be taxed? Maybe we should cash them in and put them into their 529s?

Under your bed is a really bad place to store them. I have no idea about the taxes.

 

I cashed in one last year at our credit union . It was 25 years old, a high school grad present.

[SemiSweet]

Under your bed is a really bad place to store them. I have no idea about the taxes.

 

I cashed in one last year at our credit union . It was 25 years old, a high school grad present.

They are in a fireproof safe, not stashed in my mattress. :)

[ChocolateReignRemix]

Hm, not to intrude on someone else's thread, but we have like $10k of these things under my bed, we were intending them towards our kids education even though they're in dh's name, would they be taxed? Maybe we should cash them in and put them into their 529s?

Still one of the first places a thief will look, and those safes are easy to crack. You are better off to store the safe somewhere inconspicuous/not near anything of value.

[EndOfOrdinary]

I would definitely 529 them. Obviously ask a tax professional, but mine was taxed and I was both in school AND using it for tuition.

[Pawz4me]

go cash it in - whether it has matured or not.  the interest rate on those is a great deal for the gov't and a lousy deal for the consumer.  (my grandmother was very fond of them..... )

 

Yep.  DS cashed his in (several hundred dollars) and put the money in his TDAmeritrade investment account.  I'm not sure what stock(s) he bought, but I'm sure over time he'll get a much better return.  His also came from grandparents. :) 

[Lady Florida.]

Ds has 3 that add up to just over $200. Two for $50 each were given to him when he was born. Another for $200 was given to him about 10 years ago. The $50 ones are now worth just a few dollars over face value. The other isn't worth $200 yet but he doesn't think it's worth holding on to them. We agree. He's been thinking of cashing them in.