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  1. #1
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    savings bond question

    i want to get a friends kid a savings bond as a gift. the child is only 1 year old. what kind of information do i need to have ready in order to get one? i would like it to be a surprise if possible so hopefully i don't need the kids social sec #.



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    Re: savings bond question

    You'll need the ss#



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    Re: savings bond question

    Savings bonds are terrible gifts. The interest doesn't keep up with inflation so it will be worth less when redeemed than it is now. More likely, it will be lost without ever being redeemed. That's not a gift, that's a pain in the ***. Give the kid some Cyclone paraphernalia.



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    Re: savings bond question

    How about I bonds? They are inflation adjusted.



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    Re: savings bond question

    Quote Originally Posted by ruxCYtable View Post
    Savings bonds are terrible gifts. The interest doesn't keep up with inflation so it will be worth less when redeemed than it is now. More likely, it will be lost without ever being redeemed. That's not a gift, that's a pain in the ***. Give the kid some Cyclone paraphernalia.
    well the idea was to benefit the kid somehow in the future. i babysat for my buddy and he gave me $100. i said keep it and he refused. so i wanted to find a way to give it back to him and not allow him to have the ability to do anything with it but keep it and give it to his kid.



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    Re: savings bond question

    Quote Originally Posted by theyork View Post
    well the idea was to benefit the kid somehow in the future. i babysat for my buddy and he gave me $100. i said keep it and he refused. so i wanted to find a way to give it back to him and not allow him to have the ability to do anything with it but keep it and give it to his kid.
    I'm not trying to rip on you, I think it's a nice gesture. But you sure could get the kid a lot of Cyclone stuff for $100!



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    Re: savings bond question

    Quote Originally Posted by ruxCYtable View Post
    I'm not trying to rip on you, I think it's a nice gesture. But you sure could get the kid a lot of Cyclone stuff for $100!
    the parents are from ohio and chicago could give two ***** about any sporting event. let alone cyclone sports. we all met while at grad school at southern illinois university. unfortunately cyclone gear would be less than appropriate.



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    Re: savings bond question

    Quote Originally Posted by crash_zone View Post
    How about I bonds? They are inflation adjusted.
    sure...what is an I bond?



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    Re: savings bond question

    Quote Originally Posted by theyork View Post
    sure...what is an I bond?
    akin to Savings Bond + Inflation Adjustment = IBonds

    Fixed rate is at 4.6% right now. I Bonds have an annual interest rate that reflects the combined effects of a fixed rate and a semiannual inflation rate. They are an accrual-type security. Interest, if any, is added to the bond monthly and is paid when you cash the bond.



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    Re: savings bond question

    Give cash.



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    Re: savings bond question

    Walk into a bank and ask for an I-bond form and an Savings bond form. I-bond is yellow and the savings bond one is green. Take it home and fill it out. You need the SSN and address information. The bank will take your form and the money, and the bond will be delivered in the mail from the treasury.

    On savings bonds, you pay half the face value of the bond. A $100 bond costs $50 dollars. It will take decades to reach the face value. They can be cashed in anytime after the first year with the interest. I think you can also purchase bonds directly from the treasury now and everything is electronic instead of getting a paper copy.



  12. #12
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    Re: savings bond question

    Buy Silver Online | Buy Silver Eagle Coins | APMEX.com
    Buy them one of these instead. It will probably be worth more in the long run (silver is down from its highs earlier this year but will most likely go back up as the economy tanks a second time), it's easily liquidated, and it's kind of cool too. Your local coin shop probably has some.
    Edited to add: Instead of buying a 2011, you could buy one of the kid's birth year.


    Last edited by Freebird; 08-26-2011 at 02:41 PM.

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    Re: savings bond question

    Think you can get the forms from banks for the time being (for reg savings or I bonds), but I think in the near future this is ending. Will need to perform on-line (thru Treasury, I think?).



  14. #14
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    Re: savings bond question

    donate the 100 dollars to athletic department and say its for the south endzone



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