U.S. Savings Bonds - State's Saving's Plan

Discussion in 'Horn Depot' started by TxStHorn, Apr 5, 2009.

  1. TxStHorn

    TxStHorn 1,000+ Posts

    Curious as to what some of you financial guru's would suggest.

    Am starting a new job with the state, and they offer a payroll savings bond plan that I'm considering.

    You can purchase either E Series Bonds at a 50% discount, or I Series at full price ($50, $75, $100, or $200).

    While E's are exempt from State & Local tax, they take 20 years to mature; so buying one per month would really create a situation that drags them out.

    I's can be redeemed at any time after 1 year, with monthly interest added, for up to 30 years.

    That's about all I know about them.

    For a 40 year old who has never worked at a place that provided retirement of any sort (I've saved through MF's & IRA's on my own), what would be the best choice?
  2. taco

    taco 250+ Posts

    bringing this back up since I was kind of interested in this as well.

    Did you decide on anything?
  3. TxStHorn

    TxStHorn 1,000+ Posts

    I was never really able to get any opinions, so I decided to split the baby.

    I'm contributing a total of $450 each paycheck, split between a purchase of one EE at $250 ($500 face value), and a $200 I-bond.
  4. OldHippie

    OldHippie 2,500+ Posts

    Did you call the Employee Retirement System of Texas? They can sometimes give pretty good advice.

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