Learn how to make safe money by following these tips on purchasing Series EE Bonds, otherwise known as savings bonds.
Hello! My name is Tim Lowe (ph), I am here to talk to you about Series EE bonds. Series EE bonds are government securities that anyone of us can purchase. Backed by the Federal government, they are 20 year instruments which means you buy them today and they mature in 20 years. They are guaranteed to double in value. The maturity date can actually go beyond 20 years, you can keep one for longer than 20 years. Up to 30 years, it will continue to earn interest. After that point, you have redeem them. They have to be at least -- you have to keep them at least one year. If you keep them less then five years, there is a three-month penalty which will be collected at redemption when you redeem them. You can go purchase them at your local bank, you can purchase them on the web both at the local State government level and the Federal government level. If you would like to learn more about it, you can seek help through government websites; mass.gov in Massachusetts and the Federal government's website, the treasury's website. That's a little bit about savings bonds, EE Series bonds as they are called. Thank you.