Nice surprise from badass FIL

[Honest Abe]

For our Christmas present my DW's father (who happens to be an OG mustachian) gave us all of her EE US Savings Bonds that he bought for her in the 80's. What I didn't realize is they continue to accrue interest beyond their face value. Since they were from the late 80's the interest rate on these bonds is 4%.

They are going into a VERY safe place until they're fully matured in a few years, as 4% risk-free interest is not something that is easy to run into these days!

We're definitely inspired to set aside a little 'stache for our kids.

[tpozywio]

I  think they stop accruing interest after 30 years.   Double check me, but don't let them sit around if they aren't gaining interest for you.   Awesome tho, cg!

[sunshine]

Sweet!!!

[Honest Abe]

I  think they stop accruing interest after 30 years.   Double check me, but don't let them sit around if they aren't gaining interest for you.   Awesome tho, cg!

That is correct, and thank you!

[Nords]

Very nice!

They are going into a VERY safe place until they're fully matured in a few years, as 4% risk-free interest is not something that is easy to run into these days!

You might want to convert them from paper bonds into electronic shares.  We had a terrible time trying to find a local bank to redeem the paper ones, and it turned out to be far easier to convert them before redeeming them.

But the serial numbers are recorded with the U.S. Treasury anyway, so if they're lost or damaged then you'd be able to get replacements.

[Honest Abe]

Thanks, Nords.. Yes it looks like there's a way to convert to electronic on the Treasury Direct website. That's going to be our post-Turkey Day project. Cheers!

[Nords]

Thanks, Nords.. Yes it looks like there's a way to convert to electronic on the Treasury Direct website. That's going to be our post-Turkey Day project. Cheers!

It's a huge leap of faith to bundle up a stack of bonds, put them in an envelope, and drop them in the USPS to a federal bureaucracy... but it worked with no problems.

[anastrophe]

Same thing for me! My in-laws bought EEs for my spouse as a child. Face value around $5K but they've appreciated very nicely:) And yeah, the first of these matures in 2015 so keep an eye on them.

[TrulyStashin]

Wow, so glad to find this.  I have some bonds from the late 1980's that I've never cashed.  That should be a nice surprise.  Thanks Grandmom!