Las Vegas Sun

August 22, 2014

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Letter to the editor:

Savings bonds will long be appreciated

Student loans have been in the news lately in regard to availability and interest rates.

When my grandchildren were born, I started to buy U.S. savings bonds for them for birthdays and Christmas. The first grandchild turned 21 and had a nice nest egg to help pay for some of her college expense. She had over $2,000, which helped pay her way.

I know they weren’t too happy at the time when they just got the notice that a bond was bought for them. When you buy toys, clothing, etc., for each holiday, it is exciting for a short time and then forgotten in time.

Now the bonds aren’t the best to buy, but some kind of savings would be well appreciated when college time rolls around. Instead of toys, clothing, etc., that are forgotten shortly after they receive them, help them to be able to use the funds for their future.

They will thank you the rest of their lives.

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  1. Sadly, U.S. Savings Bonds are not as easily available and desirable as they once were. Here is an excerpt with detailes:

    "U.S. Savings Bonds

    Savings bonds were created to finance World War I, and were originally called Liberty Bonds. Unlike Treasury Bonds, they are not marketable. In 2002, the Treasury Department started changing the savings bond program by lowering interest rates and closing its marketing offices. As of January 1, 2012, financial institutions no longer sell paper savings bonds. The annual (calendar year) purchase limit for electronic Series EE and Series I savings bonds is $10,000 for each series. The limit is applied per Social Security Number (SSN) or Taxpayer Identification Number (TIN)."

    As an alternative, perhaps a stock purchase in companies that are of interest to the donee. Often times, many companies traded on the NYSE allow purchases of fractional shares of stock with no buy and sell commissions. And will provide a symbolic stock certificate for ownership in the company. Over time, these shares multiply and appreciate through splits, and buy backs, especially if the dividends paid are reinvested in additional stock purchases.
    Carmine D

  2. For those who have family here in Nevada, a great way to INVEST in a growing child's education can safely be done through the various offerings the State of Nevada has to offer, just follow the links and explore the best fit for you:

    For Nevada State--- http://nv.gov/education/
    Nevada PREpaid Tuition link: https://www.nvprepaid.gov/

    Nevada College Savings Plan which has a Silver State Match Grant to your funds link: https://nevadatreasurer.gov/CollegeSavin...

    Nevada's Governor Guinn Millennium Scholarship ($10,000) link: https://nevadatreasurer.gov/MillenniumSc...

    All have their plusses and minuses, but one will surely fit the circumstances of the consumer! Today, US Savings Bonds is not the best route due to the long wait, terms, and return on investment. Most states have programs as Nevada and Texas, and one can search the state where the child resides, look under "education" and find the various grants, scholarships, savings plans, and financial aid that suits the individual. This is by far, an extremely prudent way to plan early for college! Good luck, and may the children enjoy great academic and social success in the future.

    Blessings and Peace,
    Star