Savings Bond advice
Tuesday, November 23rd, 2004
Categorized as: Series EE US Savings Bonds
We have series EE savings bonds dating back to 1983. Are they still drawing interest? If so, what is the rate and how often is interest paid? What advice do you have for these bonds? Can they just be left to continue earning interest as they are or what do you suggest to get the most benefit from them?
Bonds issued in 1983 will earn interest until 2013. Whether you should keep them or cash them is a complex question - it depends on what other assets and liabilities you have and what your investment strategy is.
You might consider consulting a competent fee-based financial advisor (avoid advisors who don’t charge fees - they get paid by earning commissions on products that may not be best for you).
Savings Bonds are an excellent choice for the low risk portion of an investment portfolio. Most advisors recommend socking away at least 6 months worth of income in low-risk investments.