IBonds vs TBonds for grandchild
I would like to purchase a 1000.00 bond for my grandson’s 1st birthday however, I don’t know the difference between the Ibond and Tbond. Which is a better long term investment for him? How would I go about purchasing one based on your suggestion? I do have his social security #, so I can put it in his name.
Terry Says
Neither is a good idea. Here’s a much better approach!
https://www.terrysavage.com/529-plans-even-better-now-2/
With a 529 plan you can always make additional contributions for future birthdays, and other occasions! the money all comes out tax-free for college, and it doesn’t impact financial aid as much as money saved in a child’s name.
