Savings Bonds?
by admin ~ September 7th, 2007 . Filed under: Personal Finance .
Jon R asked:
I’m 17 and have alot of money saved up in savings bonds…do i have to be a certain age to cash them, and do i need a parents consent?
Roseanne Tiffin
I’m 17 and have alot of money saved up in savings bonds…do i have to be a certain age to cash them, and do i need a parents consent?
Roseanne Tiffin
September 9th, 2007 at 8:14 pm
Savings bonds have a lousy rate of return, so you should cash them out and put the money in good growth stock mutual funds. If you already have student loans, use the savings bonds to pay those off.
September 11th, 2007 at 8:01 pm
Everything depends on how much is tied up in bonds, if you truly need the money now, and whose name it is in. Remember, if these bonds are cashed in, you will pay taxes on the interest.