Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Please help on TreasuryDirect Account?
Old 11-21-2007, 11:23 AM   #1
Dryer sheet wannabe
 
Join Date: May 2007
Posts: 21
Please help on TreasuryDirect Account?

Hi,
Does anyone have an account with TreasuryDirect to buy bonds directly? I'd like to buy some EE Saving Bonds but most of the banks now do not do it for me. Been reading from the Treasury web site and seems to me this is the only way to buy saving bonds directly now. Do you have any bad experience in buying/selling from the account?
Also, how hard to buy Treasury Bonds, Notes, TIPS, etc..? and is it the better way to save than CDs?

Thanks!!!
__________________

__________________
huutrinon is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 11-21-2007, 11:32 AM   #2
Thinks s/he gets paid by the post
OAG's Avatar
 
Join Date: Jun 2006
Location: Central, Ohio, USA
Posts: 2,598
I have an account and everything has gone well in the past. Actually, perfect system IMO. I have not used the account recently but I assume it is still working fine. It is very easy to buy, link a checking account etc.

The CD part of your question is a bit harder since I am currently CD only right now (Pentagon FCU, Navy FCU and VyStar CU (Florida) Credit Unions. Personally, I like CD's over the Treasury but you have to search for good rates (which are getting pretty hard to find right now).
__________________

__________________
Vietnam Veteran, CW4 USA, Retired 1979
OAG is offline   Reply With Quote
Old 11-21-2007, 01:22 PM   #3
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
audreyh1's Avatar
 
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 16,471
I bought IBonds through TreasuryDirect a few years ago. It was straightforward enough. I haven't sold anything yet.

Audrey
__________________
audreyh1 is online now   Reply With Quote
Old 11-21-2007, 02:02 PM   #4
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
haha's Avatar
 
Join Date: Apr 2003
Location: Hooverville
Posts: 22,385
Quote:
Originally Posted by huutrinon View Post
Hi,
Does anyone have an account with TreasuryDirect to buy bonds directly? I'd like to buy some EE Saving Bonds but most of the banks now do not do it for me.
I am curious about what leads you to want EE bonds at this time. Last time I looked, recent overhauls to the EE terms had made them much less attractive than before. Maybe something has changed again?

Ha
__________________
"As a general rule, the more dangerous or inappropriate a conversation, the more interesting it is."-Scott Adams
haha is offline   Reply With Quote
Old 11-21-2007, 02:06 PM   #5
Moderator Emeritus
Martha's Avatar
 
Join Date: Feb 2004
Location: minnesota
Posts: 13,212
We use Treasury Direct on occasion. The bad point and the good point is that the security is kind of a pain the patootie.
__________________
.


No more lawyer stuff, no more political stuff, so no more CYA

Martha is offline   Reply With Quote
Old 11-21-2007, 05:04 PM   #6
Dryer sheet wannabe
 
Join Date: May 2007
Posts: 21
Thanks everyone for quick reply.

haha: funny name but i guessed you must be a happy guy all the time. The reason for buying the EE Saving bonds is for my nieces education in the future. It provides a little tax deferred advantages in my opinion. I seems to like it better than the 529 plans just in case they do not want to go to college, and i can cash out early just in case i need it.



Still do not understand why people wants to buy the T-bills, T-Notes versus the CDs...
__________________
huutrinon is offline   Reply With Quote
Old 11-22-2007, 06:04 PM   #7
Moderator
Alan's Avatar
 
Join Date: Jul 2005
Location: Eee Bah Gum
Posts: 21,105
I use Treasury Direct and it is very easy to set up and use. When selling you can sell in whatever amounts you wish. eg you buy a $5,000 I-bond and when you sell (must be at least a year and 3-month penalty if before 5 years) you can sell in whatever increments you want. When making a sale the money is in the bank next working day, or 2 at most.

Latest security features are a pain and a bit over the top.
__________________
Retired in Jan, 2010 at 55, moved to England in May 2016
Now it's adventure before dementia
Alan is offline   Reply With Quote
Old 11-25-2007, 11:55 AM   #8
Full time employment: Posting here.
 
Join Date: Sep 2006
Posts: 608
Quote:
Originally Posted by Alan View Post
Latest security features are a pain and a bit over the top.
I thought so at first too, but when you consider that this is the
TREASURY of the United Freaking States of America, you gotta
ask yourself "how much security is really too much ?!?"
__________________
JohnEyles is offline   Reply With Quote
Old 11-25-2007, 12:43 PM   #9
Full time employment: Posting here.
 
Join Date: Oct 2007
Location: New York
Posts: 898
Quote:
Originally Posted by Alan
Latest security features are a pain and a bit over the top.



Quote:
Originally Posted by JohnEyles View Post
I thought so at first too, but when you consider that this is the
TREASURY of the United Freaking States of America, you gotta
ask yourself "how much security is really too much ?!?"

I agree with both sentiments!
__________________
Money's just something you need in case you don't die tomorrow.
Maurice is offline   Reply With Quote
TD Log on Security
Old 11-25-2007, 01:31 PM   #10
Moderator
Alan's Avatar
 
Join Date: Jul 2005
Location: Eee Bah Gum
Posts: 21,105
TD Log on Security

My issue with the log on security is that you are issued with a 13 character id which means you have to have it written down - no chance of remembering it, plus you are issued with a "Bingo card" to read off a random code each log in so that has to be kept in your possesion also. You are allowed to create your own complex password which is good, and you get a random virtual keyboard to enter the password from, which is good.

Instead of the card I would have preferred the method HSBC uses where YOU create an 8 digit PIN and each time you log in you are prompted for a random 3 of those 8. I travel a lot and carry my laptop. I can remember a PIN I created but have to carry my card if I want to access TD on the road.

Although it is the US Treasury we are talking about personal accounts, in that if an account is hacked, you have no more access to the US Treasury than the poor slob whose account is now compromised.
__________________
Retired in Jan, 2010 at 55, moved to England in May 2016
Now it's adventure before dementia
Alan is offline   Reply With Quote
Old 11-25-2007, 03:07 PM   #11
Full time employment: Posting here.
 
Join Date: Oct 2007
Location: New York
Posts: 898
Quote:
Originally Posted by Alan View Post
I travel a lot and carry my laptop. I can remember a PIN I created but have to carry my card if I want to access TD on the road.

Scan it and keep an electronic copy on your PC. Or type the numbers down into a spreadhseet (and save it with password protection).
__________________
Money's just something you need in case you don't die tomorrow.
Maurice is offline   Reply With Quote
Old 11-25-2007, 03:18 PM   #12
Moderator
Alan's Avatar
 
Join Date: Jul 2005
Location: Eee Bah Gum
Posts: 21,105
Quote:
Originally Posted by Maurice View Post
Scan it and keep an electronic copy on your PC. Or type the numbers down into a spreadhseet (and save it with password protection).
I never thought of that - thanks, I just scanned them onto a seperate tab on the password protected excel workbook I use (saves a lot of typing)
__________________
Retired in Jan, 2010 at 55, moved to England in May 2016
Now it's adventure before dementia
Alan is offline   Reply With Quote
Old 11-25-2007, 03:58 PM   #13
Dryer sheet wannabe
 
Join Date: May 2007
Posts: 21
Thanks all for good info!!!

Question: When you buy bonds, will it deduct directly from your bank account since it asks for the routing number? It is allowed you to include the co-owner or beneficiary just as the paper bonds?

__________________
huutrinon is offline   Reply With Quote
Old 11-25-2007, 09:33 PM   #14
Moderator
Alan's Avatar
 
Join Date: Jul 2005
Location: Eee Bah Gum
Posts: 21,105
Quote:
Originally Posted by huutrinon View Post
Thanks all for good info!!!

Question: When you buy bonds, will it deduct directly from your bank account since it asks for the routing number? It is allowed you to include the co-owner or beneficiary just as the paper bonds?

Once your bank details are entered they are stored in your record and transfers to/from your bank are direct and fast.

Not sure about the beneficiary information - I just sent a query from my account to ask about this. I expect it will be via paper.
__________________
Retired in Jan, 2010 at 55, moved to England in May 2016
Now it's adventure before dementia
Alan is offline   Reply With Quote
Old 11-25-2007, 11:53 PM   #15
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
audreyh1's Avatar
 
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 16,471
Yes, you can establish co-owner/beneficiary online when you buy a bond.

Yes, they do a direct (electronic) withdrawal from your bank account.

Audrey
__________________
audreyh1 is online now   Reply With Quote
Old 11-26-2007, 03:39 PM   #16
Dryer sheet wannabe
 
Join Date: May 2007
Posts: 21
Thanks a bunch! you guys are big help!
__________________
huutrinon is offline   Reply With Quote
response from TD on changing beneficiaries and adding co-owners
Old 11-26-2007, 07:03 PM   #17
Moderator
Alan's Avatar
 
Join Date: Jul 2005
Location: Eee Bah Gum
Posts: 21,105
response from TD on changing beneficiaries and adding co-owners

Quote:
Hello Alan,
Yes. You may add a second registrant to a converted savings bond that is in your name alone as sole owner. However, there are a few things to remember.
Because the bond has been converted, it is now governed under the regulations found in Part 363, “Regulations Governing Securities Held In TreasuryDirect.”
If the converted savings bond is still held in your Conversion Linked Account (CLA), you only have the option to add another individual as the beneficiary (POD). You cannot add a co-owner (OR) or a secondary owner (WITH) while the bond is in your CLA.
After a bond in sole ownership registration is transferred to your primary account or a custom linked account, you have the option to add either a secondary owner (WITH) or beneficiary (POD). You cannot add a co-owner (OR) because it is not an authorized registration for new securities held in a TreasuryDirect account.
You may change the beneficiary (POD) named on a converted Series EE or Series I bond, whether the bond is held in your primary account, the CLA or a custom linked account. The consent of the beneficiary named on a Series EE or Series I bond is not required to remove his/her name.
So there you have it from the horse's mouth
__________________
Retired in Jan, 2010 at 55, moved to England in May 2016
Now it's adventure before dementia
Alan is offline   Reply With Quote
Old 11-27-2007, 01:55 PM   #18
Dryer sheet wannabe
 
Join Date: May 2007
Posts: 21
Thanks again! I just opened the account and will receive an access card in 2 weeks. Love to do the business with the goverment. Don't ou guys love it!!!

__________________
huutrinon is offline   Reply With Quote
Old 02-25-2008, 12:14 PM   #19
Full time employment: Posting here.
 
Join Date: Sep 2006
Posts: 608
So is it just me, or do these guys figure they're above the law and
don't have to send out a 1099 ? I sure haven't gotten one.

At the website, you can go to "Manage Direct" and then down into
"taxes" and it kinda gives you the info, but without really dividing
it into "line" amounts. I guess it's pretty obviously "Treasury Interest".

I'm wondering if they want you to list each bill/bond/etc separately
on your taxes ? It's kinda presented like that.

Of course, I've always grouped mutual funds dividends from one
mutual fund company together as one 1099 in the past (before
I realized you only do that for brokerage accounts) and the IRS
never seemed to mind.
__________________
JohnEyles is offline   Reply With Quote
Old 02-25-2008, 12:34 PM   #20
Recycles dryer sheets
 
Join Date: Feb 2008
Posts: 452
Quote:
Originally Posted by JohnEyles View Post
So is it just me, or do these guys figure they're above the law and
don't have to send out a 1099 ? I sure haven't gotten one.
Taxes on interest you accumulate for I-Bonds are deferred until you cash them out.

If your inquiry is about different bonds then I don't know the answer...sorry.
__________________

__________________
aida2003 is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Anyone use treasurydirect with paper bonds? Olav23 FIRE and Money 8 10-20-2007 06:07 PM
Help -- how do I get my account back? donheff Forum Admin 5 05-30-2007 06:17 AM
5.5% savings account brewer12345 FIRE and Money 17 01-17-2007 07:49 PM
Checking Account mickeyd FIRE and Money 9 09-09-2006 05:13 PM
Brokerage Account Spanky FIRE and Money 5 03-10-2005 02:16 PM

 

 
All times are GMT -6. The time now is 10:05 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.