Most bond owners don’t have proper savings bond management tools. They often guess at which bonds to cash in and make costly mistakes.
Spring Lake Heights, NJ (PRWEB) October 22, 2013
SavingsBonds.com came to the rescue of a Superstorm Sandy victim. The 61 year old needed to pay back loans he had received from his sister as a result of the devastating storm that impacted him and millions of others financially along the north east coast one year ago.
The SavingsBonds.com VIP Membership Cash In Report©, not available elsewhere, helped the New Jersey man easily determine which bonds in his portfolio of over 228 bonds should be cashed in first to pay back a $30,000 loan.
“Since the storm last year, I still owe $30,000 to my sister who helped me get through it. I have $58,000 worth of bonds, with no other way to get her the money,” said SavingsBonds.com VIP Member, L.F. of West Deptford, NJ. He questioned, “Which bonds should I sell to pay her off? It’s bothering me that I still owe her.”
Jane Zanni, SavingsBonds.com’s customer service director, contacted L.F. and instructed him on how to log into his VIP Membership account and access the Cash In Report©. She also informed him how the report would help him quickly determine the lower performing bonds he should cash in first so he could pay back the loan without losing money. The report also indicates how much interest income would have to be reported on his federal income tax return.
By simply entering the amount of money a bond owner would like to “raise”, the program goes through the individual’s entire savings bond inventory and selects and indicates which bonds should be cashed in first. Cash-in values, current and lifetime interest rates, maturity and timing issues are taken into account to make the determination.
Most savings bond owners don’t have proper savings bond management tools. They often guess at which bonds to cash in and make costly mistakes. Some cash in higher yielding bonds first, while holding onto the lower yielding ones, or cash in bonds at the wrong time, which may cause forfeiture of interest. Often they arbitrarily pick bonds that have a face value closely matching the amount they need, not realizing these bonds could be worth a lot more than the face value that’s printed on the bond. Others cash in bonds that are still earning interest, while holding onto bonds that have stopped earning any interest.
The Cash In Report© essentially eliminates head scratching and guesswork for bond owners when cashing in. SavingsBonds.com is especially pleased that they were able to help out one of their members in a time of need. Their VIP services helped make certain financial decisions a lot simpler and easier and reduced a bit of stress for him while he continues to rebuild his life after a difficult time.
SavingsBonds.com is the #1 non-governmental site valuing over $1.1 billion in savings bonds. Complimentary calculator offers personalized, unique color-coded, Savings Bond Inventory Report© featuring “what this means to you,” helps bond owners avoid losing money and maximize their investment. Extensive, consumer-friendly information center, helpful videos, newsletters, current series bond rates, lost bond services, re-issue services, purchase bonds link, online and popular government forms available.
About SavingsBonds.com VIP Membership:
SavingsBonds.com VIP Members have 4 services not offered elsewhere. 1. Bond Inventory Report© available/updated 24/7 indicates current bond values, interest rates, timing, taxation and maturity issues, displayed on an easy to understand, color-coded, personalized, bond-by-bond statement. 2. Bi-monthly Alerts! © Emailed summary statements specific to Members' bond inventory, provides inventory totals, interest rates/earnings, helpful strategies regarding current and upcoming financial events, including maturity and taxation issues. 3. Cash In Report© ranks bonds in performance order. Eliminates guesswork on which bonds to cash in first. 4. Daily Bond Tips. The ultimate savings bond Membership offering superior bond management helps investors avoid forfeiture of interest, double taxation and potential IRS tax situations. Bond services, re-issue services, purchase bonds link, online and popular government forms also available.