dcsimg The Get Rich Slowly Forums • View topic - Financial gift to niece and nephew

  GRS Home  Forum Home
Bank Rates Center
   Savings Account Rates
   Money Market Rates
   Highest CD Rates
Insurance Rates Center
  Auto           Health
   Life              Home
Mortgage Rates Center
  Mortgage Rates
  Mortgage Quotes

Last visit was:
A place for Get Rich Slowly readers to ask questions
and exchange ideas
It is currently Sat Oct 25, 2014 10:14 pm




Post new topic Reply to topic  [ 5 posts ] 
Author Message
 Post subject: Financial gift to niece and nephew
PostPosted: Fri Nov 30, 2012 11:02 am 

Joined: Wed May 30, 2012 11:56 am
Posts: 134
I have a niece and nephew who are 6 and 8 months old. I thought about starting some sort of college fund for Christmas but can't afford to do much, probably $50 each, and I probably wouldn't make monthly contributions. So then I thought about a savings bond. But how do you buy a savings bond? I have no idea. Alternatively I could just give the parents the money and ask them to open a savings account/529/whatever for their kid. I also don't want to commit to making a set contribution per kid, my sister's already talking about having more and I suspect my brother's family will be growing quickly as well, I could easily end up with 4-8 nieces and nephews. And who knows what my youngest brother will end up doing? I have no plans to have children of my own, although there is still time for that to change (I doubt it will unless I marry into a family).

Any suggestions?


Top
Offline Profile E-mail   
 Post subject: Re: Financial gift to niece and nephew
PostPosted: Fri Nov 30, 2012 11:05 am 

Joined: Mon Nov 01, 2010 5:15 pm
Posts: 1201
I'd go with a savings bond.


Top
Offline Profile E-mail   
 Post subject: Re: Financial gift to niece and nephew
PostPosted: Fri Nov 30, 2012 2:19 pm 

Joined: Fri Jun 25, 2010 3:06 pm
Posts: 81
http://www.treasurydirect.gov/indiv/planning/plan_gifts.htm


Top
Offline Profile E-mail   
 Post subject: Re: Financial gift to niece and nephew
PostPosted: Fri Nov 30, 2012 2:48 pm 

Joined: Wed May 30, 2012 11:56 am
Posts: 134
Hmm, so to give a bond I'd have to have the parents set up an account for themselves and the kids, get the kids' SSNs, all that after I get my own account setup... They sure don't make it easy! I've never purchased any type of bond before, I'll have to do some reading.


Top
Offline Profile E-mail   
 Post subject: Re: Financial gift to niece and nephew
PostPosted: Fri Nov 30, 2012 5:42 pm 

Joined: Thu May 24, 2012 4:20 pm
Posts: 19
Savings bonds are entirely online now, I believe.

Honestly, the online system is terrible. I tried to get one last year but I kept having trouble getting through after multiple attempts and went to one of the last banks to offer them before they stopped giving them out.

Maybe it's better now but it really put me off from purchasing any. Though, from your post, it doesn't sound any better.


Top
Offline Profile E-mail   
Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 5 posts ]  Moderators: bpgui, JerichoHill


Who is online

Users browsing this forum: Google [Bot], Yahoo [Bot] and 10 guests


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot post attachments in this forum

Search for:
Jump to:  
cron
Powered by phpBB © 2000, 2002, 2005, 2007 phpBB Group
Theme created StylerBB.net & kodeki