Finally did it!
By Modestah
@Modestah (11179)
United States
May 2, 2008 12:25am CST
My husband has been purchasing savings bonds for the past 28 years, it used to be a pretty good idea - but last I checked (and it may have gotten worse since then) it takes around 19 years for the bonds to mature... He started an allotment to purchase the bonds direct from his pay when he was in basic training... Well, we finally went through the process of halting the allotment. It is nice to see the little extra money added to his pension instead.
Did you use to or do you currently purchase savings bonds?
I bought one for my first godchild way back when, I wonder if he has cashed it in yet. When I was born my uncle bought me one, I cashed it in when I was 18, it had matured and also grown some interest... it helped me finance my senior trip to Spain.
1 person likes this
3 responses
@carolscash (9492)
• United States
2 May 08
I do think that it takes awhile for them to mature now. However, this discussion made me think about the fact that some friends of ours bought my daughter one when she was small and they held it so that my brother wouldn't get it. I wonder if they still have it as she is almost 18 now and I think that she could cash it in and use it for a car or something.
@happythoughts (4109)
• United States
2 May 08
I have never had one before. I guess I should learn more about them. We are trying to find good savings places for our kids money to grow while they are growing. Now we just put it in the bank and it is barely doing anything there.
@moneyandgc (3428)
• United States
2 May 08
My 10 year old son has quite a few that people got for him when he was born. My 9 year old son has a couple too. I have never bought one before. I know that they take a long time to mature and after while they stop maturing altogether.
I think it was smart to stop your allotment. We have an allotment that goes to my husbands Thrift Savings Plan. It is pretty new and I guess you get it at retirement. He has 8 years left in the Air Force.
