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EE bond gift question
Old 07-06-2006, 02:12 PM   #1
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EE bond gift question

I would like to give my new godson an EE bond as a baptism gift. Any pros/cons to this? I didnt care for the IBONDS and dealing with his SS number. Im hoping to get him started early on savings and investing*

Thought I would add the gift will be in the 250 to 500 dollar range if that makes a difference.
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Re: EE bond gift question
Old 07-06-2006, 03:01 PM   #2
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Re: EE bond gift question

Quote:
Originally Posted by Mwsinron
I would like to give my new godson an EE bond as a baptism gift. Any pros/cons to this? I didnt care for the IBONDS and dealing with his SS number. Im hoping to get him started early on savings and investing*

Thought I would add the gift will be in the 250 to 500 dollar range if that makes a difference.
I was surprised to see that you can purchase an EEbond in his name, and use your social security number:* http://www.fedinvest.gov/sav/savgifts.htm

Of course, if it is his, he can cash it in anytime. But how else to learn responsibility.

I know someone who bought his grandchildren some savings bonds in the children's names. The children's father cashed them in. Needless to say, that ended those gifts.
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Re: EE bond gift question
Old 07-06-2006, 03:04 PM   #3
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Re: EE bond gift question

Get an I bond. EE bonds have a fixed rate for 30 years.

The rates on EE bonds are not that attractive to lock for longer term.
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Re: EE bond gift question
Old 07-06-2006, 03:11 PM   #4
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Re: EE bond gift question

The I bonds let you buy for him using your SS number as well. http://www.fedinvest.gov/sav/sbigift.htm
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Re: EE bond gift question
Old 07-06-2006, 03:28 PM   #5
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Re: EE bond gift question

Oh thanks! I didnt catch you could do that with IBONDS too.
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