A couple of questions
While checking a bank of mine I ran into this URL http://www.publicradio.org/columns/marketplace/gettingperson... I have a 5 year IRA with three years left. The article has a lot of good information in it, but it is not clear in regards if Lehman Brothers goes into receivership and the new entity lowers the interest rate. My question is, "does anyone know for sure if I have to accept it ?" In other words, can I withdraw without penalty ? Off hand, I would think yes, but I am not 100 % sure. Does anyone know ?
The other question I have had for quite awhile, and hoping someone here can answer it authoritatively. On U.S. Savings Bonds: To get tax exempt savings bond status for college use by grandchildren; whose name should be on the bond when cashed, the granter or grandchild ? I was under the impression it had to be the granter, not the grantee ?
Thank you in advance for your answers. I can't seem to google this information and if you ever asked the U.S. Treasury questions you will know why I'm asking here rather there (which I did online, and landline).
Good questions
maybe someone in the night crowd could give us some info.
Prepare & Share the Message of Freedom through Positive-Peaceful-Activism.
unreal
and this is the reason that the country is in the mess it's in.
You listened to others to tell you about YOUR money.
OOOPSS....Your broker musta been "Cramer"...
You don't KNOW what you BOUGHT?
Yeah, I bought a car, don't know what kind, but my cousin told me it was a really good one that had a 30 year warranty for everything.....
MAybe, this is the problem...
crazyrustyforpresident
crazyrustyforpresident
Here we go...
It isn't a question of knowing what I bought (CD's), which I certainly do without Cramer's help... it is a legal question after the fact, "If my bank goes into receivership?" I'm not a banking attorney only an investor smart enough to invest in something that has the full faith and credit of the United States, albeit not much now.
As far as the EE Savings Bonds go, it is just a simple tax question I'm asking.
Which brings me to ask, I don't know how you arrived at the conclusion the whole country is in mess because I'm humble enough to admit I don't know everything about everything like you.
Have you ever considered, maybe you might be the problem you are so worried about, perhaps a little short ?
Dont buy Bonds!!
In 1991 I purchased the series EE bonds, $50 would get a $100 dollar bond to mature in 10 years.
10 Yrs later I was told that the maturity date was extended an additional 10 yrs. (Cutting my return in half)
On Feb 12,2009 (18 yrs later) I went to cash them in only to be told that the maturity date was again extended to 2021!!
I'm told now that there is $13 dollars left of interest coming in the next 12 YEARS!! For each $50 dollar bond to mature!!!
This amounts to 30 years investment to double your money.
Which equates to about 3.34% annually (or $3.40 per year) with no compounding.
In 1991 a 1 yr cd could be found to produce 9% return annually.
So, My 5 yr gaurentee has turned into an (alleged) 30 yr guarentee!
WTF!!! Only Govt. can get away with this blatent breach of contract.
Don't do it!!! And it's only getting worse!
I sure don't know what kind of EE bonds you bought ?
I and my wife maxed out the buy limit each year, 1992-93 how many we could buy. Our investment has more than doubled and we won't have to pay any state tax ever, and if used for our grandchildren college education or cashed those college years, it is exempt from Federal taxes up to the expenditure for college costs that year. Incidentally, we will more than quadrupled our investment 2023.
Power of compounding w/o taxes is awesome.
Too bad the Treasury doesn't have those fixed percentages and higher yearly buy limits per person anymore, 5K -vs- 15K.
Don't Invest in Bonds or Cash
You're an idiot if you have your retirement savings in CDs or bonds. You're guaranteed to get wiped out by inflation over time. Inflation is a *LOT* higher than the CPI. The CPI is lies and propaganda.
If it's an IRA, you can buy GLD or SLV or stocks. If you have a 401(k), you can roll it over to an IRA when you switch jobs. I'm not cashing in my stocks, but I've decided all new investments are going to GLD or SLV.
It is isn't in an IRA, you can buy actual gold or silver and take physical delivery.
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I have my own blog. Let me know if you like it.
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I have my own blog. Let me know if you like it.
don't buy gld or slv.... buy
don't buy gld or slv.... buy physical and take physical posession of the metal.. if you can't touch it you don't own it.
"When governments fear the people there is liberty. When the people fear the government there is tyranny."
-Thomas Jefferson
I am more concerned about the return of my money than the return on my money. --Mark Twain
“A prudent man foreseeth the evil, and hideth himself: but the simple pass on, and are punished.” (Prov. 22:3; 27:12 KJV)
Hey McCain-----┌П┐(◣_◢)┌П┐
You Can't Buy Physical in an IRA
If it's an IRA, then you can't buy physical metal (except with certain custodians). In an IRA, GLD or SLV are the most convenient options unless you want to pay the early withdrawal penalty.
If it's not in an IRA, I agree that physical is best. One issue that concerns me is "Where should I safely store my metal?" Keeping it in my apartment is only viable if I have small quantities.
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I have my own blog. Let me know if you like it.
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I have my own blog. Let me know if you like it.
"Where should I safely store my metal?"
safety deposit box credit union
Se my reply above ^
"I sure don't know what kind of EE bonds you bought ?"