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Savings bond
Posted on 11/20/14 at 3:19 am
Posted on 11/20/14 at 3:19 am
My grandmother used to give us $50 every Christmas/birthday for about 15 years so I have accumulated roughly a little over $1000 I believe, I haven't looked into the exact number as of yet.
I know it is not a lot of money, but bc it is practically found money since I have recently remembered I even have them, my questions are:
-How do they work regarding interest gained?
-More so am I better off cashing them, and placing that money in a Roth or anther investment?
I know it is not a lot of money, but bc it is practically found money since I have recently remembered I even have them, my questions are:
-How do they work regarding interest gained?
-More so am I better off cashing them, and placing that money in a Roth or anther investment?
This post was edited on 11/20/14 at 3:27 am
2
Posted on 11/20/14 at 6:32 am to ELT
If you cash them in, don't forget to pay taxes on the interest.
Also, in some circumstances, SB can be used to pay tuition tax free.
Also, in some circumstances, SB can be used to pay tuition tax free.
Posted on 11/20/14 at 10:56 am to ELT
If you go to Treasury.gov and look under savings bond link, you can put in the number of your bonds and calculate the interest and cash in value.
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