I Bonds

[retire@40]

I'm not big on I Bonds for myself, but I thought I would buy one for my nephew for his birthday.* I found out the only way to get him a paper I bond is by me filling out a paper application.* If I were to get him one through Treasury Direct, I would have to hold it until he turned 18 since he is only 8 and can't open his own Treasury Direct account until he is 18.* I don't mind buying him a bond, but I don't want to have to worry about holding it for him for 10 years (or more) and then having to worry (remember) about transfering it to him.

Does this make sense?* There's no other online way to get him a paper I bond?* And if he can own a paper I bond, why can't he have his own Treasury Direct account until age 18?

[Spanky]

Quote:

Originally Posted by retire@40 Does this make sense? There's no other online way to get him a paper I bond? And if he can own a paper I bond, why can't he have his own Treasury Direct account until age 18?

Do you mean "why can't he have his own Treasury Direct account before age 18?"

There is nothing wrong with paper I bond. I keep all mine in a safety deposit box.

[Eagle43]

Quote:

Originally Posted by Spanky Do you mean "why can't he have his own Treasury Direct account before age 18?" There is nothing wrong with paper I bond. I keep all mine in a safety deposit box.

\
Me too!

[riskadverse]

Something everyone may not know about I bonds - you can buy 30K per social security number through Treasury Direct AND 30K per social security number via the paper method. Thus a husband and wife can sock away 120K per calendar year in I bonds.

[OldAgePensioner]

Plus they have pretty pictures on the bond certificate.