| SITE OF THE WEEK
December 16, 2001 -- Be a patriot, pick bonds
www.savingsbonds.com
President George Bush and Mayor Rudy Giuliani told Americans to go out and spend to help fight the war on terrorism both psychologically and economically. In that vein, the Treasury Department issued new "Patriot Bonds" on Dec. 11, the three-month anniversary of the terrorist attacks. You can research and buy these and other bonds at www.savingsbonds.com. The site is bullish on the new bonds and offers plenty of information on the patriotic issue. The "Patriot" bonds are Series EE bonds, which reach initial maturity in 17 years and final maturity in 30. They can be purchased over the counter and online. Besides basic information on the Patriot Bonds, such as its current 4.07 percent yield and its exemption from state and local taxes, savingsbonds.com also offers tips and history. While the site is primarily geared toward investors, it also has information for collectors - people who buy bonds without expecting to redeem them. The site advises that bonds bought in the first month after being introduced can end up more valuable than their actual cash-in value because they become collectibles. If the current fervor of the country is any indication of popular tastes in the future, these Patriot Bonds could wind up being a real collector's item. Savingsbonds.com also has a good amount of information on other types of bonds. You can learn more about E, EE, I, HH and older bonds, such as Baby Bonds, F&G, H and Savings Notes/Freedom Shares. There is also information about education bonds. Under the Education Savings Bond program you can use your savings bonds toward education for yourself, your spouse or your children. What's more, you might be able to exclude all or part of the interest earned on such bonds from your federal income tax. Of course there are plenty of exclusions and restrictions, but you can learn all about them on the site. The "Frequently Asked Questions" portion of the site offers decent information about how to buy bonds and when to cash in, and even has a gallery of old war-time bond posters and ads.
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