My grandmother, who recently passed, gave each great-grandchild a $500 savings bond. I am wondering if I should just leave it as is or would there be a better place to put that money for the kids?
I also received a check last week from my grandpa for $1k as a last gift from grandma. After thinking it over I am putting that into our ROTH IRAs. That is the best place for it to grow.
But between you and me, I was seriously tempted to go to Disneyland with it!
Advice on Saving Bonds
August 17th, 2012 at 12:22 am
August 17th, 2012 at 04:55 am 1345175700
There is a savings bond wizard from the US Treasury, so you can monitor how much they are worth, etc.
If I recall, I bonds are earning 3%, not many places that have better interest rates. And they are tax deferred, you would only pay federal taxes on them and if used for books and tuition, no taxes.
August 17th, 2012 at 09:28 pm 1345235333
Agreed with Baselle - depends on the type of bond, too. I'd be curious about the interest rate, at the least. Tax ramifications should also be considered, though probably not of high concern in this example.
HA - about going to Disney.