18 February 2013 @ 01:27 pm
US Savings Bonds (1974)  
For President's Day.

US savings bonds BL sep 74

I don't think I've never been offered a chance to buy savings bonds through an employer, but it's still a thing. 
( 10 comments — Leave a comment )
zorinlynx: canadian-lynxzorinlynx on February 18th, 2013 07:49 pm (UTC)
6% Interest.

6% freaking interest.

AIIIRRGGHH. I wish we could still get these rates. These days you can only get that kind of return with significant risk. :P
pikkewyntjie: kittiespikkewyntjie on February 18th, 2013 09:36 pm (UTC)
No kidding! No wonder people don't save their money anymore.
zorinlynx: canadian-lynxzorinlynx on February 19th, 2013 01:46 am (UTC)
Yep, low interest rates discourage saving and encourages racking up debt. Is it any wonder we are in the mess we are?

Right now it makes no fiscal sense to, for example, buy a car cash, even if you can. Because the rates are so low it makes more sense to have a loan. Add a few other big ticket items and you're in debt to your eyeballs!
Jim Caruso: gingersnaps3jasonbeast on February 18th, 2013 07:53 pm (UTC)
The punchcard holes on the bond really put a date on this ad, for me. Love it!
pikkewyntjie: kittiespikkewyntjie on February 18th, 2013 09:56 pm (UTC)
One of my dad's first jobs (mid 1960s) was working for in the computer room of a bank dealing with punchcards. The money was good, but it was such tedious work and he hated it. I'm not sure if he dealt with savings bonds, but maybe he did.
Jim Carusojasonbeast on February 18th, 2013 10:12 pm (UTC)
Punchcard code was on everything until the early 80s. I remember seeing it on utility bills and such. It was the preferred computer interface for high-volume data processing until things took an optical turn with UPC. Hard to believe that was less than 40 years ago!
luke_russell: pic#93957263luke_russell on February 19th, 2013 01:11 am (UTC)
Savings Bonds are how I bought my first house. My employer got me to sign up 10% of my wages, I was young and didn't seem to miss the money. I just forgot about the bonds. Five years later and voila, I had a down payment. If it wasn't for Savings Bonds I would never have had a house.
pikkewyntjie: kittiespikkewyntjie on February 19th, 2013 03:49 am (UTC)
Cool! I buy a few out of my tax refund each year so I'm less tempted to spend all of it.
Zydee: stonezydee on February 21st, 2013 02:42 pm (UTC)
My mom had bonds deducted from her paycheck with the government (Corps of Engineers) until her death. I hadn't expected to discover all the bonds--she had them squirrelled away all over her house, it seemed like. I was still finding them years later. Half had my name on them, half had my sister's, so we could still cash them. That money saved my bacon a few times as I was getting re-established after her death.

401ks are another great way to save money that young people never think about. It always blew my mind to hear kids at work say they couldn't afford to do the 401k that was offered. Most companies fund-match to a certain level (3%, 4%, even 8% at one place I worked), so it's free money--and you can borrow against it interest-free if you run into trouble. As far as I can see, people can't afford *not* to take advantage of free money.
pikkewyntjie: kittiespikkewyntjie on February 21st, 2013 04:00 pm (UTC)
It seems that savings bonds fell by the wayside when 401ks came along, but it seems that so have companies that will match your contributions. If you still have that, you're lucky! I haven't had a company match my 401k since my first layoff in 2008. The next company I worked for (which also laid me off) didn't match and neither does the one I work for now. :(
( 10 comments — Leave a comment )