EE bonds.. cash 'em in?

Discussion in 'The Okie Corral' started by geofri, Nov 6, 2010.

  1. geofri

    geofri Poikilotherm™ Lifetime Member

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    Got a couple $50.00 bonds for birthdays as a child.
    They have hit maturity(they are around 13years old), but continue to yield interest for 30 years from issue.

    Current interest rate is 0.60%. Would you hang onto them? It's nice to have money around that is un-spendable, but I feel like I could get more interest out of the money in other ways. (not necessarily a financial account of some sort, but in convenience and accessibility)


    :dunno:
     
  2. scottlang

    scottlang Millennium Member

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    Cash them in and buy silver. The dollar is going down, hard.
     

  3. american lockpicker

    american lockpicker License to Il

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    When Obama got in office I cashed all mine and bought guns. :cool:
     
  4. jknight8907

    jknight8907

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    Some checking accounts pay better than .6%. Cash out and do something more productive with the cash.
     
  5. geofri

    geofri Poikilotherm™ Lifetime Member

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    :cool:

    I dunno.. feel a bit late to the game to buy silver now..

    I was thinking along the lines of brass and lead:whistling:


    I'm totally un-informed about buying precious metal. I'd need to do some real research first.


    My current checking is a student checking account, and I don't get interest or pay fees. I have been looking for a second bank account, but I am not sure what bank I want to go with. (PNC has some deal about adding $200 to newly opened checking accounts, but i'm not sure about all the details but I want to look into it.)
     
  6. geminicricket

    geminicricket NRA Life member

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    Eh, hold 'em until you learn better about money.

    When we married, my wife received a few mature bonds from her parents. First day back from the honeymoon, she cashed them in and we blew the tiny little bit of money they amounted to.
     
  7. Marine8541

    Marine8541 iseedeadpeople

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    Umm they're two $50 bonds... no exactly a lot of money.

    OP at .06% cash them out and buy some range ammo. :cool:
     
  8. geofri

    geofri Poikilotherm™ Lifetime Member

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    I understand what you're saying but can you elaborate at all?

    At what point will I have learned enough to roll over a 100$ investment into something more contributive.

    Wouldn't this small amount be it be a good way to learn?
     
  9. Doc Holliday

    Doc Holliday CLM

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    ...and that's why investing is a RICH MANS GAME. The average Joe will pay more in early withdrawal fees/penalties than profit.

    Unless you've got tens of thousands to invest, you're just not going to make significant money at all.
     
  10. american lockpicker

    american lockpicker License to Il

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    Unless your buying metals from a bullion dealer but its buy low sell high and the prices are high now...
     
  11. Doc Holliday

    Doc Holliday CLM

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    No difference what you buy, you still have to invest big money to make big money.
     
  12. Fungunner

    Fungunner

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    Sell em, put the money to use while it still has some value. At the rate of inflation that's yet to come, they will be worth less than the money that was initially paid for them.
     
  13. geofri

    geofri Poikilotherm™ Lifetime Member

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    Kinda why I haven't made a move on any metal.. just figured I missed the train on that one.

    By sell them.. do you mean "cash them in"? (seems like I have heard people mention selling bonds before.. )
     
  14. american lockpicker

    american lockpicker License to Il

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    Not really I used to pay $350 an ounce(2003-05) for gold now its $1300... I cashed out at $1000.
     
  15. american lockpicker

    american lockpicker License to Il

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    You take them to the bank and say you want to cash them in, theres paperwork for every bond, and you might be taxed on it...
     
  16. geofri

    geofri Poikilotherm™ Lifetime Member

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    Haha don't be such a jokester! They wouldn't tax me on money they agreed to pay me for using my money for all these years!! :rofl:
     
  17. Gonzoso

    Gonzoso

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    Umm no you'll be taxed on interest earned. I cashed in some a while ago. I had a personal emergency, and I also needed new work boots and text books back when I sucked at managing money.
     
  18. geofri

    geofri Poikilotherm™ Lifetime Member

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    Thats wut I sed.
     
  19. geofri

    geofri Poikilotherm™ Lifetime Member

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    oh, and the avatar.. borneo or burmese? :thumbsup: can't tell by the angle and size.
     
    Last edited: Nov 7, 2010
  20. Gonzoso

    Gonzoso

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    She's a Burmese python. I used to have a couple Boa's I was going to breed but my life got turned upside down last summer and my snakes were given away from under me and I can't keep snakes at my new residence.:crying:

    I now only have a box turtle i rescued from this drunk chick that was the sister of the a woman I dated. She fed him pasta and stuff and told me "Don't let him out. He doesn't like the cold, he's from Tennessee."

    My good buddy has about 15 snakes. He's got a carpet python, blood python, 12 foot burn, that little burm(which will be mine when I can have one again), and a ton of RTB's.