Do people still buy savings bonds for kids?

In My Humble Opinion
1

I’m kicking around the idea of not buying gifts for anyone this year for Christmas - I don’t have an SO, and my immediate family would also not be buying me any gifts. I just don’t need anything and neither do my family members.

But, for fun, I thought it would be cool to buy savings bonds for my niece’s kid and my friend’s kid. They’re both 2. I remember when I was a teen I had some savings bonds to cash and it was way cool to have all that money. I think I used it to buy a computer.

I’ve been to the savings bond Web site and see that I don’t need to know the kids SSNs to get the bonds. I can just use mine (which will be masked on the bonds themselves). I’d probably give them each $50 a year.

But does anyone still do this? I’m not trying to get savings accounts set up for the kids or college funds. Basically this is a scheme to make other people’s kids appreciate me when I am old and alone, so maybe I won’t be SO alone. :cool:

If anyone thinks there’s something more worthwhile I can do, let me know! Or, if you have kids and you like/dislike them getting bonds, tell me too.

2

Every Christmas and on their B-days. A Bond and a small gift. Parents think it is a very good idea.

3

I used to for my nephews. Then one year I overheard my sister-in-law tell her child (in response to what’s that Mom?): You know that thing that uncle Khadaji gets you every year that you kids hate.

After that I spent the money on toys-for-tots.

4

My mom gets all of her grandkids (quite a few now) a savings bond for their birthday. It’s pretty much that and a card. She’s a pretty cool grandma so they don’t mind that it’s a present that they can’t play with for years to come.

5

Hmm good call on that.

I am not actually particularly close to these kids right now, and I don’t buy them Christmas or birthday presents because…uh, because I’m a mean old lady, I guess. They also have grandparents who spoil them rotten so at this stage of the game they wouldn’t even notice if I bought them a toy or not.

But their parents are cool enough to tell them that they really do appreciate me sending them savings bonds once or twice a year :slight_smile:

May I ask…what do parents do with savings bonds for kids? I think mine kept mine in their filing cabinet or something. Parents can’t use them, right?

6

I’ve got a stash of savings bonds in the bank that I’ve received from various relatives over the years. They’re worth about $10k now.

7

IMO, Depending on the bond, you should probably cash them and re-invest them. I was told that many bonds will only let you earn money on the original principal. If nothing else, you should at least check and see which kind you have.