Series EE Bond

finance a la Shmoop what is a savings bond well it's kind of like charity

charity because interest rates on savings bonds are exceptionally low even

by government standards well there was an era in America when taxpayers happily

and willingly loaned money to Uncle Sam and were happy to do so because they had

great faith and trust that the people we elected were in fact decent honest [old government photos]

hard-working representatives who had the interests of the nation placed far ahead

of their own personal gain it was the era of Jimmy Stewart and a whole bunch [photo of Jimmy Stewart]

of others you should think the greatest generation yeah we know even a pretty [picture of John Wayne]

good generation check Congress for details so savings bonds used to be a

standard birthday present for young people kind of like the cross pin that [kid's birthday party]

nice Jewish boys would get at their bar mitzvahs grandmother's after slathering [boy's mar mitzvah]

in a bathtub of angry perfume loved handing the $50 savings bond envelope to [woman in hot bath]

their college-bound progeny well savings bonds are issued by the US

Treasury and have no stated maturity date instead what happens is that the

savings bond welljust pays the interest for some

period of time like say a decade and at the end of that 10 years while it simply

stops paying interest you can cash in the bond at that time or just let it

ride essentially renting money to the Gov for free and yeah you don't want to

confuse a savings bond with this bond yeah who needs no safety