I still like those money saving bonds
By kingparker
@kingparker (9673)
United States
January 1, 2012 12:04pm CST
I remember my uncle gave me those saving bonds which he purchased it from one of the local banks many years ago as a Christmas gift for me, and I used that money to buy books while I was in college. Those saving bonds are the greatest gifts I think, especially from elderly pass on to their children or grandchildren. I love that idea. Recently, I heard that you can't no longer hold those saving bonds in paper, you have to purchased it electronically, through online. It starts with Wells Fargo, Suntrust, and Chase on January 1. But still, that is one of the greatest value if you can keep those government granted saving bond. So, how many of you still hold those saving bonds, or how many of you purchase them from your banks as a gift to others?
1 person likes this
2 responses
@russell_21 (210)
• India
1 Jan 12
Government bonds give you very low returns on you investments. If you take inflation into consideration... you will get less then what you have invested today as the interest rates that bonds provide are low. If you want your money to grow and create huge wealth for the future...I would suggest you to invest in mutual funds for at least a period of 5 years or more. You can even invest in stock markets if you know what you are doing. If you don't know anything about the stock markets and don't want to take risk...it is best that you invest in a good mutual fund and let the fund manager take the decisions. The money that you invest here will grow as the interest rate here is high and you can earn higher returns over and above inflation.
By the way, the best time to invest is when the markets are falling.
@kingparker (9673)
• United States
2 Jan 12
I guess you are right. Considering the government is defaulting on some its debt, and the rating is low. I don't know much about mutual funds too, I just don't know how much those agent would charge for the commission.
@russell_21 (210)
• India
2 Jan 12
Compared to previous years the commission for agents have reduced drastically....its almost nothing...
Moreover...Investments above a period of one year is tax free. Look at a long term horizon for investing ...say 3 to 5 years....
@3SnuggleBunnies (16374)
• United States
2 Jan 12
I knew they were going electronicly but I knew you could still buy them in person and get a physical bond. I dunno I'll have to look into the next time I'm in.
When I had a full time job I used to buy those for my oldest child and myself as an investment as it paid better than a savings account. I also had asked family to buy them bonds for their birthdays, sadly they only did that a short time. I too hope it will come in handy for college or when they move out on their own.
