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Cashing in Kids Savings bonds for 529
Posted on 2/17/12 at 9:55 am
Posted on 2/17/12 at 9:55 am
I started a La 529 account for my 4 kids last week. They each have savings bonds around $600 cash value. Seems to me it is a good idea to cash in and deposit the money into their 529 accounts. Any negatives to doing this?
2
Posted on 2/17/12 at 10:10 am to lsufan1971
I don't see any. Bonds won't keep up with inflation.
Posted on 2/17/12 at 12:31 pm to lsufan1971
EE? Ibonds? If Ibonds I would leave as is. EE now takes 20-yrs to have rate jump to 3.5%. Ibonds most likely will not cover the real inflation rate of education unless something within the education system is corrected as currently it is unsustainable, just like medical inflation.
I'm maxing Ibonds now as you get a free put option compared to buying LT TIPS, and estimated inflation will still be better than what CD's/savings accounts are offering. Rate goes up, can sell and then buy higher rates whereas you would take a loss on TIPS.
I'm maxing Ibonds now as you get a free put option compared to buying LT TIPS, and estimated inflation will still be better than what CD's/savings accounts are offering. Rate goes up, can sell and then buy higher rates whereas you would take a loss on TIPS.
Posted on 2/17/12 at 12:33 pm to tirebiter
EE you can use for education without paying taxes on any interest though, right? If they are EE....
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