The U.S. Treasury Department reports that more than $15 billion worth of savings bonds have stopped earning interest but are still held by investors. To check the status of a bond, go to savingsbonds.gov. Click on "Individual/Personal," then click on "Find out if your Treasury securities have matured." There you can figure out if your bonds are still paying or how long you can expect them to earn interest. If they've stopped earning interest you should check with us and find out if you should cash them in, and what to do next.
The one thing you don't want to do is keep any savings account that doesn't earn any interest!
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Refunds Of Overpaid Income Taxes
Many clients we deal with get refunds of overpaid income taxes each year when they file their returns. Forever, we've been reminding clients NOT to get refunds, but rather to have us help you plan your income taxes so you get no refund, and have bigger paychecks all year long instead. (You can do this totally legally, by adjusting your withholdings down, so you get more each paycheck, and eliminate or reduce getting refunds at tax time which are nothing more than interest free loans to the government!
So, here are two ways millions of Americans continue to loan money to the Federal government at zero interest, which we think you should have zero interest in doing!
If you need help, you know who to ask. Let us help you establish sound savings and tax programs so you minimize or stop loaning YOUR money to Uncle Sam for free!
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For a FREE Weekly Financial Tip click here
Scott Financial Solutions
Your Wealth Preservation Experts
602-750-3891 or 520-705-4596
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Very good suggestion on checking the maturity of savings bonds. Most people put them in a safety deposit box and forget about them. Thanks!
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