| T.R | Title | User | Personal
Name | Date | Lines |
|---|
| 652.1 | EE bonds | MIMS::HOOD_R | | Mon Jan 03 1994 17:38 | 15 |
| > 1. HIGHEST yields (in the US) on 6 month or 1 yr CD's ?
>
>
> 2. HIGHEST yields (in the US) on a 1 year TAX-FREE(Fed and state)
> NO risk safe haven investment (ie. US Treasuries, etc) ?
>
>
> 3. HIGHEST yields (in the US) on money markets ?
Try EE U.S. Savings Bonds. You must hold them for at least 6 months,
but they earn a 4% rate that is exempt from State/Local income taxes.
Money Market rates are about 3%, CD's are about 3.0-3.2%.
Doub
|
| 652.2 | | NYOSS1::SAMBAMURTY | Raja | Mon Jan 03 1994 19:25 | 9 |
| Re: .0
Check out a personal magazine like Kiplinger's (try your library, if
you don't want to buy it). They have information like this every issue,
I think they call it Savings Monitor (or something like that).
hth
Raja
|
| 652.3 | Happy I bought a pile when minimum was 6% :-) | ELWOOD::KAPLAN | Larry Kaplan, DTN: 237-6872 | Tue Jan 04 1994 15:20 | 8 |
| Re savings bonds:
To get the guaranteed minimum interest rate (presently 4% ?) they must
be held 5 years - not 6 months.
Call 1-800-4US-BOND for more info.
L.
|
| 652.4 | min yield is 4% | SLOAN::HOM | | Tue Jan 04 1994 16:42 | 13 |
| > To get the guaranteed minimum interest rate (presently 4% ?) they must
> be held 5 years - not 6 months.
The above is NOT correct. Bonds (if held for a minimum of 6 months)
must pay the minimum rate which is set by law at 4%. Bonds held
for 5 years will earn the larger of the current guaranteed 4%, or 85% of
the average market yield of outstanding Marketable Treasury securities
with remaining term to maturity of approximately 5 years.
The Boston Globe had an article over the holidays giving the details.
A call to the number posted in -.1 will confirm the above.
Gim
|
| 652.5 | Savings Bonds... | CARROL::YOUNG | where is this place in space??? | Tue Jan 04 1994 17:16 | 9 |
| 652.6 | | CSCMA::BALICH | | Wed Jan 05 1994 13:45 | 8 |
|
Looks like I'll go the US Savings bond route ... I would like to see if
Money Magazine which lists the banks with the highest yields for CD
and MM has any bank higher thatn 4% ... Just curious but most likely
will go the bond route.
What the limit ($ amount) one can use to open a savings bond ?
|
| 652.7 | EE Bond limits | KOALA::BOUCHARD | The enemy is wise | Wed Jan 05 1994 15:11 | 2 |
| EE bonds are available for as low as $25 (a '$50' bond).
Purchases are limited to (I think) $10000/year.
|
| 652.8 | two levels... | CARROL::YOUNG | where is this place in space??? | Wed Jan 05 1994 16:24 | 4 |
| $10,000/yr for an individual, $30,000 i think for joint ownership
(married couple)....
Doug
|
| 652.9 | $15K max. per annum | I18N::GLANTZ | | Wed Jan 05 1994 16:44 | 8 |
| Unless they changed the rules recently, an individual can buy under his
own name $15K ($30K face amount) per calendar year, regardless of marital
status.
The nice lady at the Federal Reserve Bank of Boston told me that if
someone were to give you additional savings bonds that same year
as a present, the government would not insist you reject the gift in
order to remain under the max. amount listed above.
|
| 652.10 | Don't have to pay STATE taxes on EE saving bonds | CSCMA::BALICH | | Mon Jan 10 1994 15:53 | 8 |
|
Can someone just CONFIRM if EE US SAVINGS BONDS are EXEMPT from
local and state taxes ?
The lady at the bank did not know and the 800 number in this note is
ALWAYS busy.
Thanks in advance.
|
| 652.11 | Yes. | ROCK::MURPHY | Number 20 and rebounding | Mon Jan 10 1994 16:27 | 11 |
| They are exempt from state and local taxes. And the tax on the interest
is deferred until redemption - unless you want to declare it every
year. I declared the 50 or so bucks a year I was getting on it in
during my younger years so I would never pay taxes on them (wasn't
making enough to pay taxes) so that I wouldn't get a hit when I cashed
them in.
If my understanding is correct.
John
|
| 652.12 | | NOTIME::SACKS | Gerald Sacks ZKO2-3/N30 DTN:381-2085 | Mon Jan 17 1994 13:27 | 11 |
| > I declared the 50 or so bucks a year I was getting on it in
> during my younger years so I would never pay taxes on them (wasn't
> making enough to pay taxes) so that I wouldn't get a hit when I cashed
> them in.
You can even do it retroactively if you're willing to file amended returns.
I had some bonds that an uncle bought in my name without telling me. When
I found out, I was making some real money, so I would have had to pay real
taxes. I elected to retroactively declare the interest as it accrued,
meaning that I got several years' interest tax-free since I was a poor student
(financially speaking).
|