wyclef
Full Member
Cash: $ 15.17
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Joined: 08 Oct 2004
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| Need to spend 3k quick |
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Hey, I need to spend 3k pretty quick and am wondering if it would make sense to just cash out some Series EE Bonds I have that are over 12 years old. They are only earning 4% and I get more than that at ING Direct. Seems like it would be a waste to save them any longer right? I mean, I need to spend the cash now, and what am I saving them for. They aren't performing very well right? What do you think? Take the cash out of my savings or cash in the crappy Series EE Bonds?
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Sun Jun 18, 2006 1:24 pm |
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wyclef
Full Member
Cash: $ 15.17
Posts: 85
Joined: 08 Oct 2004
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???
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Mon Jun 19, 2006 1:40 am |
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coaster
Senior Advisor
Cash: $ 1355.60
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Location: Wisconsin
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It's a little slow here on Sundays. 
I'm not too familiar with savings bonds. I believe the interest is exempt from state income tax, right? So you'd have to factor that in when comparing yield.
I suppose you take the money you need from whatever has the lowest return.
~Tim~
Eye Candy : Why Whimsy
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Mon Jun 19, 2006 2:37 am |
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wyclef
Full Member
Cash: $ 15.17
Posts: 85
Joined: 08 Oct 2004
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i don't know. what do other people think? is this true? should i not touch the bonds or what?
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Mon Jun 19, 2006 1:40 pm |
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wyclef
Full Member
Cash: $ 15.17
Posts: 85
Joined: 08 Oct 2004
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I'm in sort of a time pressing situation here so if I could get a couple more opinions about the matter I'd appreciate it. I just need to pull some money out quick and can either pull it from my savings account at 4.25% or some of the seriess EE bonds I have at 4%. I don't know what to do, but am leaning towards the bonds...
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Mon Jun 19, 2006 6:04 pm |
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coaster
Senior Advisor
Cash: $ 1355.60
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Location: Wisconsin
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How much time does it take to cash in the bonds?
~Tim~
Eye Candy : Why Whimsy
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Mon Jun 19, 2006 8:16 pm |
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wyclef
Full Member
Cash: $ 15.17
Posts: 85
Joined: 08 Oct 2004
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I think it's pretty instant. I'm at treasurydirect so they are already electronic. probably just 1-2 business days.
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Mon Jun 19, 2006 8:34 pm |
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wyclef
Full Member
Cash: $ 15.17
Posts: 85
Joined: 08 Oct 2004
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anyone else have any input?
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Mon Jun 19, 2006 9:18 pm |
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