Savings bonds ?

[Scorpius]

about a decade or so back I started putting majority of my tax refunds into buying savings bonds for my kids, they each have 2-3k each in them, if I wait the 30 years of course it will double.
Been thinking about taking them to the bank and cashing them in and what little interest they’ve made. Then perhaps putting it all into silver for them or into an IRA and an age based fund.

Any thoughts here from the wise investors?

 

[palmettomoon]

What type of bonds?

 

[palmettomoon]

No matter if your bonds were purchased 10 years ago. You could do worse than the interest on the bonds but you'd really have to try.

Not sure I'd buy silver right now.

 

[Scorpius]

What type of bonds?

I series


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[fslc94]

For silver, no!

 

[palmettomoon]

How old are your kids? For whom the bonds were purchased? Will they need money for college?

 

[Scorpius]

They’re 12/13/18 first one has begun draining the 529 lol wish I’d thrown much more in. Now I’m focused solely on my retirement in 5-7 years hopefully.

 

[chucklenut]

i wouldnt by silver or gold right now. its a wait and see game

savings bonds are only paying 1.9% on the new one. if you already have them though id leave them alone and let them mature. stock market is shaky and there isnt a whole lot of other investing opportunities that are doing much better. id just let them ride and start sinking new money into a better account

 

[TheGman]

i wouldnt by silver or gold right now. its a wait and see game

savings bonds are only paying 1.9% on the new one. if you already have them though id leave them alone and let them mature. stock market is shaky and there isnt a whole lot of other investing opportunities that are doing much better. id just let them ride and start sinking new money into a better account

Well said sir.

 

[Bagman]

You can look up the bonds on the internet and it will give you their current trade in value. You could probably do better earnings wise with that money in an index fund but then you have risk that you don't have with the savings bonds. Money Market funds aren't even paying what you are earning on the bonds.