Hi,
Has anyone gotten a savings bond on-line? I've always gone to the bank to get them & now banks don't do them any more. I feel like it's not so safe now because at the bank they always asked for a social security number. What site do I even go to in order to get bonds? Thanks!
**Thank you to those who answered my question and suggested sites to buy savings bonds. Someone posted "do not buy anything you don't understand." I DO understand savings bonds, that is why I am purchasing them. Maybe she did not understand my question, never once did I state that I do not understand them. My husband is a CPA and is extremly good with handling money. I do know that they take a long time to build up value, I do know that the ones I purchase now may not be worth much for college (thanks for looking out for me on that one ladies, we are investing in different ways for college), and yes, I do know that the value of our dollar is not worth that much right now. I also know that some were purchased for me as a child, I chose not to use them for college, but I did use part of them to buy a very nice car.
don't buy anything you don't understand.
i don't own any, but i have taken Dave Ramsey's Financial Peace University and he does not recommend them.
one thing to keep in mind is that inflation goes up approx. 4% each year so if they are not making more than that, you're actually losing money.
i would do some hardcore internet research before putting my money in a bond.
Just a note on those who say not to buy them that they don't mature for many years. you can buy a savings bond for face value and it starts accruing interest right away. It is only when you buy them for half of face value that they take so many years to mature. my kids all received them as they were growing up and purchased nice cars with them. so they are a good plan.
I would NOT buy savings bonds right now. Our currency is being depreciated at a very fast rate. The dollar is losing value. Every time you see inflation (gas, food, goods, cars, etc) It is not the goods going up- it's your dollar buying less. You may see that Brown and serve sausage went up from 99 cents to 1.30. Inflation. But what most people don't see is the hidden inflation...it is not 7 ounces anymore, its 6 or less.
Plus, you need to hold onto them for many years to get the increased value. We probably have 4 years tops, before our dollar goes defunct. If you don't beleive me type in "dollar losing value" or " the problem with fiat currency" on any search engine.
You can buy them through the US Treasury Dept http://www.savingsbonds.gov/
I haven't purchased any this way myself. They take so long to mature that they're not really a good college investment anymore (that's what I think of them as). I might cash my daughter's before they all reach full face value, since she'll go to college this coming August.
I would buy them from the treasury department. I have not done this as we no longer purchse them but our daughter received several ans we purchased several along the years.
I do go to the treasury department site to keep up with the values, etc and trust that it is a good site. I belive some of the bonds my mom bought for daughter were through the site suggested below.
Our daughter received several as gifts when she was younger and we purchased a few ourselves. I completely agree that they are NOT a source for college funding. They are just a part of a very diversified portfolio we have for her but her main avenue for college funding is through a 529 plan which is fully funded at this point. Her bonds are all good and she has not decided where she will invest them as they fully mature.
I completely agree with others... if you do not understand exactly what you are investing in, don't do it.
We are very much into numbers, diversity and we do invest with bonds, numismatics as well as other investments which bring in much higher numbers for us. The bonds and numismatics are basically just something we hold on to and do not sell, reinvest, etc. Just make sure you know what you are doing so you don't lose money.
I would not buy them on line. I used to get them but I don't think they are considered a good investment right now.
My son received quite a few - some take 7 years to mature, which isn't awful, but others take over 20 years. So that's tying up the donor's money for 20 years for precious little return.
http://www.treasurydirect.gov/indiv/products/products.htm
This is the link for the Treasury Department which issues Savings Bonds. I know my Aunt buys them for her Granddaughters all the time online
It sounds like you are buying them for yourself. I can't remember the exact URL but there is only one site you can buy them for and it is only from the government. They did this to increase electronic transactions, seriously, if you go to the site that is what they tell you.
The problem is now to buy them you have to be 18 because you have to have an account with them. You cannot put them in anyone else's social security number either.
If you can't tell I think this was one of they typical stupid things our government thinks is brilliant!
One of my coworkers bought them for their grandkids every year, not any more, you just can't do it.
