While doing my monthly recalculations in October I noticed that we had two US Savings Bonds that had matured earlier in the year.
I hightailed it up to the bank to cash them out. Since they had reached their last maturity date it made no point to keep them "invested" as they'd earn nothing more.
I had hoped to apply these to College Boy's next tuition bill in January so that the interest they have earned would not be taxed.
Unfortunately per the rules for these things, only US Savings Bonds purchased after 1989 can be used in this way without a tax penalty.
These bonds were purchased in 1986.
When Hubs first started at his career his employer offered among other perks an automatic payroll deduction to buy US Savings Bonds. Of course we signed up for that along with all the other savings plans they offered. Somewhere in 2006 the employer discontinued this Saving Bond purchase plan, but along the way we ended up with 51 Savings Bonds.
I have our Bonds saved in a spreadsheet online that I can update values every month from the Us Treasury website database.
We have another Bond maturing Dec 1st and will also cash that one out before the end of the year.
We are debating cashing in some of these bonds early(before full maturity)as the rate is 1.3% or 1.4% and these are dated such that can be used for education tax-free. Is it better to use them now for education expenses or hang onto them to cash in after Hubs retires and our income is lower.
It probably doesn't matter much to our bottom line since the amount of money is comparably small potatoes.
I just can't believe that we've had these things for 30 years!
Suddenly I feel so old...... ;-)