Holding onto savings bonds no longer earning interest is like giving Uncle Sam an interest free loan.
Spring Lake Heights, New Jersey (PRWEB) October 09, 2013
A new Alerts! Report offered by SavingsBonds.com hopes to inform the estimated 10 million senior U.S. Savings Bond owners that they may own bonds that are no longer earning any interest. The monthly emailed report informs bond owners, up to three months in advance about bonds in their portfolio that are about to, or have already, reached final maturity and will stop earning any interest.
An estimated $15 billion worth of savings bonds have reached final maturity and are no longer earning interest. Additionally, approximately a half million matured bonds are added every month, most of them owned by seniors.
Most owners are not aware that bonds continue to earn interest after the bond reaches it’s initial maturity – or face value – and stops earning any interest after it's final maturity date, which is usually 30 years from the issue date.
For over 70 years, bond owners who purchased paper savings bonds often stashed them away in a drawer, stuffed them in a box under a bed, or filed them away with other paperwork where they were often forgotten about. Most bond owners do not properly manage their bonds, which has resulted in decades of costly mistakes, including forfeiture of interest, unexpected cash-in tax consequences and potential IRS penalties.
“Savings bond management services were essentially non-existent for the majority of bond owners. This has resulted in vast, expensive, financial mistakes being made by millions of unsuspecting bond owners,” indicates Jackie Brahney, SavingsBonds.com Marketing Director. She adds, “Holding onto savings bonds no longer earning interest is like giving Uncle Sam an interest free loan.”
The Alerts! Report is included in the SavingsBonds.com VIP Membership, which is not offered elsewhere. In addition to emailing bond owners twice a month about important maturity issues, the one page, color-coded, summary report also indicates bond portfolio totals, investment growth, total interest earned amounts, re-titling information, cash in strategies and access to a bond-by-bond, detailed Savings Bond Inventory Report.
Better savings bond management and avoiding costly mistakes is now simple and easy for any bond owner who has an email address. SavingsBonds.com created the service to provide advance notification of important maturity dates before they happen. The service also helps bond owners determine cash-in strategies and provides information to maximize the investment. The useful, practical information provided might just help bond owners reduce the amount of interest free loans to Uncle Sam.
SavingsBonds.com is the #1 non-governmental site valuing over $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.