Thread: Take a guess

probably 275 then subtract taxes you have to pay on it and the rate of inflation your probably left with about 50 bucks

Why don't you just leave it be until a day comes when you really need the money?

Cash it in and spend the money. Or invest it.

Originally Posted by maniclion

Why don't you just leave it be until a day comes when you really need the money?

I'll second this. It's somewhat easily negotiable in case you need it to pay the rent, but not so much so that you'll blow it on beer.

Originally Posted by DOMS

I'll second this. It's somewhat easily negotiable in case you need it to pay the rent, but not so much so that you'll blow it on beer.

If this happened to me I would cash it in and spend it on something or put it into a money market account or ING accout. I prefer to keep my finances as simple as possible. I don't like to have small amounts all over the place. My financial advisor calls it "decluttering the mind".

Originally Posted by Doublebase

If this happened to me I would cash it in and spend it on something or put it into a money market account or ING accout. I prefer to keep my finances as simple as possible. I don't like to have small amounts all over the place. My financial advisor calls it "decluttering the mind".

Better to have it spread out a bit than to lose it all in one place.....diversification doesn't only apply to mutual funds you know....

Originally Posted by MeatZatk

My mom just found a $200 savings bond at her house that was given to me on March 15, 1990. From what I've been told about savings bonds, they begin to accrue interest after 10 years or so. So..take a guess on how much it's actually worth. I'm going to cash it in on the 15th (though I'm not sure if it'll add another years interest on it or not).

The series of the bond will determine how much you will get back. I think they have face value and half face value bonds, one collects interest on the full 200 and the other was bought with $100 and will take years to reach the full 200 on the maturity date depending in the rise of interest rates since 1990.......either way they penalize you for early redemption by subtracting part of the interest.......

A little reading make me think it's a Series EE......

EE Bond

Series EE savings bonds were introduced in 1980 to replace the series E bond. Paper EE bonds are sold at a 50 percent discount to their face value (from $50 to $10,000), and are guaranteed to be worth at least face value at "original maturity", which varies from 8 years to (presently) 20 years depending on issue date. Electronic EE bonds sold through TreasuryDirect are sold at face value ($25 and up); however, they are guaranteed to be worth at least double their face value at original maturity, so the difference is nominal. EE Bond interest rates vary depending on issue date, and for older bonds, yields on other Treasury securities. In May 2005, EE bonds were assigned a fixed rate at the time of purchase. The rate is currently 3.0% (as of January 2008). Series EE bonds issued in May 1997 or later earn interest every month, compounded twice per year, until they reach "final maturity" after 30 years; earlier EE bonds vary in interest accrual, but have the same 30-year final maturity. The interest on series EE bonds purchased since 1989 is exempt from federal and state taxes if it is used for education expenses, so long as the expenses are incurred in the same year as the bonds are redeemed. A buyer should beware though that there are very specific requirements for the bonds to be tax free and thus should consult the tax code before purchasing as college savings.

It is a EE bond, and I'm heading to Las Vegas in 3 weeks for my birthday, so it's going to come in handy. I don't need the money that bad, but I could use it. Holding on to it for a few more years wouldn't really do me any good, as I will be advancing in my career by then meaning a raise of roughly $80,000. A couple hundred dollars wont necessarily mean as much then as it does now.

Originally Posted by MeatZatk

It is a EE bond, and I'm heading to Las Vegas in 3 weeks for my birthday, so it's going to come in handy. I don't need the money that bad, but I could use it. Holding on to it for a few more years wouldn't really do me any good, as I will be advancing in my career by then meaning a raise of roughly $80,000. A couple hundred dollars wont necessarily mean as much then as it does now.

I have yet to see a child support check. See you in court.

savings bonds seem like such a ridiculous way of saving/investing

Cash it and put in the bank with the rest of your savings which are hopefully in a high yield savings account. Even though the interest rate on that bond is 4% which is currently higher, it only comes out to a net gain of like a dollar a year. I just had the same situation and went with simplicity, but I'm also pretty good with not blowing money on random things (too much).