Savings bond?

Question

How do I buy a savings bond for my kids ? I’m only 19 and don’t know anything about this stuff . Can anyone give me info ? Is it like a trust fund where you have to pay taxes and stuff on it?

Answer

It's best to go to your bank and to see what kind of investment is best.  Savings bonds aren't always the best option.

Answer

Right now,  interest rates are pretty much rock bottom (bad if you're buying a savings bond, great if you're taking out debt). I wouldn't buy a long-term bond right now. You can do a short term bonds as an option.
You can also look into an FDIC insured high yield savings account for the time being and earn about 2% interest. Check out American Express or Ally Bank as good options.
If the purpose of the savings is education specific rather than general savings, you can also look into opening a 529 college savings account (known as "college" savings but can actually be used much more broadly for education than just college although).

Answer

Go to the US treasury website.  You will have to buy from online.  It will tell you all about it.

Answer

Savings bonds aren’t what they used to be. Instead get familiar with something called “compound interest” Find a credit union with decent interest raites on dedicated savings accounts. Start a 5 year dedicated savings account and place as much money in it as you can every month. Then once the 5 years are up, invest that money again into another 5 year dedicated savings account. That’s what my husband and I do! Works great!

Savings bond?

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