I have alot of savings bonds.do i have to be a certain age to cash them?
by admin ~ July 6th, 2006 . Filed under: Investing .
Chris Webb asked:
the are just bills that all say 50 on them they are series EE. i know about how they go up over time and whatever i just need to know if you need to be a certain age to cash them or whatever other information you have. thank you.
im under 18, do i need a parent to sign them or not?
Arianna Stepleton
the are just bills that all say 50 on them they are series EE. i know about how they go up over time and whatever i just need to know if you need to be a certain age to cash them or whatever other information you have. thank you.
im under 18, do i need a parent to sign them or not?
Arianna Stepleton
July 8th, 2006 at 7:20 am
You can cash them in virtually anytime. Go to savingsbonds.org to check value. They pay interest for 30 years from purchase. If you don’t need the money hold on to them.
July 8th, 2006 at 11:50 pm
Generally, no, but you will need valid forms of ID.
And FYI, they dont go up FROM $50….they go up TO $50. So if they are only a couple years old, they’re worth LESS than $50.
July 10th, 2006 at 8:30 pm
Unless you really need the money, you are much better off hanging onto them for the long haul. You won’t get face value for a few years, but over the thirty years you can get a lot of interest since it compounds over time.
July 12th, 2006 at 11:44 am
Amanda is not quite right. They’re worth $50 on their maturity date, but they continue to increase in value for years after that. Just how long that goes on depends on the bond, but is at least 20 years, I think. By the way, like the returns on all Treasury issues, the accumulated dividends are subject to Federal tax, but are exempt from all state taxes. And, yes, you can redeem them at any age.