What do you do with savings bonds?

whlinder

Like real ones on paper? Probably have about a grand of series EE Patriot bonds all issued on paper, lovingly gifted from my wife’s grandparents to our daughter, all at least 10 years ago. For college etc. cause that’s what old people do I guess.

I only know cash and what the computer screen says I have for money. How on earth do you convert those things to cash?

Are they worth the denomination issued plus interest accruing?

I had totally forgotten about those things until we needed to dig out her birth certificate so she could get her learners permit.

PurpleThrobber

Go to your local financial institution and cash them in. They'll issue you a cashiers check.

Depends on what type of bonds they are - some are face value plus accrued interest, some are 1/2 the face value accruing to the fully amount. It's been a while since I had to do it - but the bank totals all that shit up and then sends you a 1099-INT on the interest earned.

USMChawk

What Throbber said. My MIL did the same for our girls and we cashed them all in. My girls both work so we opened them a Roth IRA and bought some blue chip mutual fund. Stalin posted a video from Mr Wonderful (Kevin OLeary?):and his OUSA fund sounds like a good one. I’ll probably buy that one this year.

YouKnowIt

You can enter them in online at https://treasurydirect.gov/BC/SBCPrice ...If they havent matured, dont cash them in ... unless you need the money ... you should be able to enter in different dates to see what the amount will be ... if almost mature, then go ahead and cash em in ... if you got like 10/5 years maybe wait

Pitchfork51

I cashed some in for like 300 bucks a couple years ago. Then again I'd lost everything and I needed that 300 lol.

But grandparents giving their grandkids savings bonds is a perfect example of the disconnect of older people vs younger people today when it comes to finances.

Older people thinking investing for the long term and delayed gratification is good. (And correct)

But being totally oblivious to the fact that 3 percent loses money nowadays.