[Joan]

Let’s talk savings bonds. We received some when our kids were young, they are 22 and 18. I figure we will give the 22 year old hers. And maybe the 18 yo his when he turns 21.

Honestly forgot about them till now. Did you receive some when kids were young?

How did you handle them?

[Coral]

We cashed our kids’ bonds in just before they graduated college, and gave them the money.

The bonds were in their names and tax free while in college.

[Nilam]

I had some from the 80’s that I finally cashed in. I only got a couple hundred dollars and had to pay taxes on it later. SUCH a letdown!

[Taryn]

I read they were tax free if used for college but maybe someone will chime in for sure.

[Melanie]

Yes. They have to wait to cash them in and get full value. Honestly a horrible investment but I get that it’s an easy way to gift to someone

[Max]

Interest was a lot better back then. Ours was paying over 10% up until about a year ago

[Tom]

It’s easy to redeem, all online as I recall. I think my 28 year old daughter’s interest on a 50 bond given at birth was like $50.

It was really a let down.

[Charlene]

My mom gave my kids savings bonds. We waited until they matured and then gave them to our kiddos.

We didn’t cash any bonds in before maturity. Sadly the interest is taxable.

Also, I wanted a local bank to do the redemption at.

I finally found one and had to open an account. Over a 2 year period, I went to the bank 3 times to cash bonds.

I am keeping the account open in order to be able to cash in my youngest child’s bonds when the time comes. Each time it took a couple hours to cash in a stack of bonds.

Google it to find maturity date for each bond. The amount of time until maturity has changed over the years.

I told the banker if she discovered any had not matured, I didn’t want to cash that one.

[Bunny]

Honestly they aren’t worth all that much. We had a laugh about them as a family and turned them in.

[Athena]

My daughter is 30 and has some sitting in a file that she got over 20 years ago.

Wondering the same thing

[Author]

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