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.