United States Savings Bonds - How Do I Calculate US Savings Bond Values?
April 29, 2009 by How Savings Bonds Work
Filed under About Bonds
A savings bond is a treasury security for investors. In essence, investors are loaning the government money. They are issued both as paper bonds and electronic savings bonds. They cannot be traded but can be redeemed after only one year. There are no dividends, per se, with a savings bond, as the interest payments are simply added on to the value of the bond, but as tax-deferred items, the interest doesn’t have to be reported to the government until the bonds are cashed.
The value of a savings bond varies with the kind of bond purchased - series A, B, C, D, E, EE, F, G, H, HH, I, J and K. It also depends on when it is cashed and what kind of interest it has been assigned. Since 1935, the treasury has issued savings bonds in alphabetical progression. For example, series A bonds were offered the first year, Series B bonds followed in 1936, Series C ran from 1937-1938, and Series D were issued from 1939-1941. Series E bonds, longest running of the treasury savings bonds, ran from May 1941 until they were discontinued in 1980.
Series EE bonds were brought out in 1980 to replace the series E. They can be purchased at half or full face value. They come in amounts between $50-$10,000, and carry a maturity date of between eight to thirty years. Those cashed in before the fifth year are penalized three months’ worth of interest. If EE bonds are purchased through a bank or other financial institution, it is also known as a Patriot Bond. There were more kinds of savings bonds, including the series F and G (which were offered to all investors except banks), series H, HH, Series I, J and K.
How do we calculate the value?
The value of a savings bond can be calculated by taking note of the face value of the bond, the interest rate from the time the bond was issued until the present time, and whether there are any penalties that have to be deducted. In addition, it is important to note that a bond that is issued at half the face value will be worth the face value at maturity, while a bond that is issued at face value is worth twice this amount at the time of maturity. Savings Bonds can also increase in value if they are redeemed past their maturity date, in which case the interest must be calculated on a year-to-year basis.
Thanks to Mike Singh for contributing this article to our Bonds blog:
The value of a savings bond varies with the kind of bond purchased - series A, B, C, D, E, EE, F, G, H, HH, I, J and K. It also depends on when it is cashed and what kind of interest it has been assigned. Since 1935, the treasury has issued savings bonds in alphabetical progression. For example, series A bonds were offered the first year, Series B bonds followed in 1936, Series C ran from 1937-1938, and Series D were issued from 1939-1941. Series E bonds, longest running of the treasury savings bonds, ran from May 1941 until they were discontinued in 1980.
Series EE bonds were brought out in 1980 to replace the series E. They can be purchased at half or full face value. They come in amounts between $50-$10,000, and carry a maturity date of between eight to thirty years. Those cashed in before the fifth year are penalized three months’ worth of interest. If EE bonds are purchased through a bank or other financial institution, it is also known as a Patriot Bond. There were more kinds of savings bonds, including the series F and G (which were offered to all investors except banks), series H, HH, Series I, J and K.
How do we calculate the value?
The value of a savings bond can be calculated by taking note of the face value of the bond, the interest rate from the time the bond was issued until the present time, and whether there are any penalties that have to be deducted. In addition, it is important to note that a bond that is issued at half the face value will be worth the face value at maturity, while a bond that is issued at face value is worth twice this amount at the time of maturity. Savings Bonds can also increase in value if they are redeemed past their maturity date, in which case the interest must be calculated on a year-to-year basis.
Thanks to Mike Singh for contributing this article to our Bonds blog:
On http://www.bond-trading.org/ you will find articles on municipal bond investments and how do savings bonds work.
Bush Makes Big Changes To College Savings Plans
April 28, 2009 by How Savings Bonds Work
Filed under About Bonds
Saving money for our children’s higher education is a little like walking through a mine field, which plan best suites our needs. President Bush has just signed the Pension Protection Act, the act outlines strengthening the financing rules for defined benefit plans. The main problem I found with this act is that the Pension Protection Act eliminates the 2010 sunset provision for tax-free withdrawals from the Section 529 tuition savings plan.
This plan was created in 1996 and it allows after-tax income (which means it will not be taxed there after) to be invested in state-sponsored plans and to grow free of federal and state taxes. Fortunately, the Economic Growth and Reconciliation Act of 2001 states that as long as the 529 money is used for college expenses that income earned can be withdrawn free of federal and state taxes. But the tax-free withdrawals are set to expire at the end of the year 2010. If and when that happens the distributions from the plan are taxable, albeit at the student rate.
Most experts are now saying that more 529 options only represent more ways to make the same mistake of investing in these plans. Your investments are locked into specific rules just for a tax benefit and the plan is completely lacking in flexibility. The Coverdell Education Savings Account is another alternative to Section 529. Both plans are similar in that they allow money to grow tax deferred. The Coverdell Education Savings Account may also be put towards primary and secondary education.
If your children qualify for financial aid and you want to use the 529 plans then put it in your name. You really don’t want the plan to be considered your child’s assets when financial aid calculates an aid package. For those high-income parents who probably won’t qualify for financial aid, it would make sense to place the Section 529 under you child’s name to take advantage of the lower tax rate.
Experts recommend purchasing a Series I United States savings bond with the child’s name on it. It can be used for higher education and the interest income is exempt from federal income taxes. Another option for a high-income family is custodial accounts - Uniform Transfers to Minors Account (U.T.M.A.) or Uniform Gifts to Minors’ Accounts (U.G.M.A.). These accounts are a way to shift assets to your children. You could also set up a complex trust which would include restrictions so that once the child turns 18 they would not be able to spend all the money on a car or sound system.
Thanks to Carl Hampton for contributing this article to our Bonds blog:
This plan was created in 1996 and it allows after-tax income (which means it will not be taxed there after) to be invested in state-sponsored plans and to grow free of federal and state taxes. Fortunately, the Economic Growth and Reconciliation Act of 2001 states that as long as the 529 money is used for college expenses that income earned can be withdrawn free of federal and state taxes. But the tax-free withdrawals are set to expire at the end of the year 2010. If and when that happens the distributions from the plan are taxable, albeit at the student rate.
Most experts are now saying that more 529 options only represent more ways to make the same mistake of investing in these plans. Your investments are locked into specific rules just for a tax benefit and the plan is completely lacking in flexibility. The Coverdell Education Savings Account is another alternative to Section 529. Both plans are similar in that they allow money to grow tax deferred. The Coverdell Education Savings Account may also be put towards primary and secondary education.
If your children qualify for financial aid and you want to use the 529 plans then put it in your name. You really don’t want the plan to be considered your child’s assets when financial aid calculates an aid package. For those high-income parents who probably won’t qualify for financial aid, it would make sense to place the Section 529 under you child’s name to take advantage of the lower tax rate.
Experts recommend purchasing a Series I United States savings bond with the child’s name on it. It can be used for higher education and the interest income is exempt from federal income taxes. Another option for a high-income family is custodial accounts - Uniform Transfers to Minors Account (U.T.M.A.) or Uniform Gifts to Minors’ Accounts (U.G.M.A.). These accounts are a way to shift assets to your children. You could also set up a complex trust which would include restrictions so that once the child turns 18 they would not be able to spend all the money on a car or sound system.
Thanks to Carl Hampton for contributing this article to our Bonds blog:
Investing In Bonds For A Secured Future
April 27, 2009 by How Savings Bonds Work
Filed under About Bonds
There may have been more than one occasion when you might have had to borrow money from a friend: at the coffee shop, in the office, or even for the cab service. When you run out of money, borrowing is usually your only way out. Juxtaposing the same with big corporations and the federal government, one would find it is not that easy for them. Not only have they to repay the money owed, but to top that amount with interest. That is why companies are made to sign a bond by law, promising the repayment of the money owed. It is a formal kind of security to ensure due payment.
However, certain criteria ought to be considered before investing in a bond. Let us take a short tour through how investing in a bond could benefit you.
Before Investing
The working of a bond primarily depends on whether you need to invest money for a long or short term. Besides, it also depends on your tax status, the period and investment goals. There are some basic strategies on hand, which should be considered before making any investments. For instance, putting all your assets and risks in one single asset class would not be a good idea. It is better to diversify the risks by creating a portfolio of several bonds within the bond. By choosing different issuer’s bonds, you could protect yourself from the possibility that one of the issuer’s may not be able to pay back the amount owed.
After Investing
After investing, a par value, or the amount of money the investor receives after maturity of the bond, is calculated. This means the amount (principal) owed should be returned to the investor. The coupon rate is the amount received by the bondholder as the percentage of the par value. Lastly, a maturity date is arrived at wherein the bond issuer needs to return the principal amount to the lender.
To arrive at how much a bond would yield, one could divide the amount of interest paid over the course of a year by the current price of the bond. Prices of bonds fluctuate; hence, the current price is always taken into consideration. However, if you decide to sell before the maturity date, it is advisable to do it at the current rate of the market.
Types of bonds
There are different types of bonds available. For example, government, corporate, agency, mortgage-backed securities, municipal, etc. In addition, different maturity level bonds are also available; these help in managing the interest rate risk.
The treasury bonds available from the US government have maturity dates ranging from 3 to 5 months to thirty years.
Corporate bonds, on the other hand, which are sold through public security markets, are a little risky and have high interest rates.
Local and state government bonds have higher interest rates, as unlike the federal government, there are more chances of them going bankrupt.
Foreign bonds are difficult to buy, and is mostly done as a part of a mutual fund. However, investing in them can turn out to be risky.
To conclude, even though certain bonds may be risky, or offer a lower rate of interest, buying bonds are a safe option, as they are sound investments. Securing a number of bonds gives the owner a good credit rating and helps to prove his or her financial stability.
Thanks to Joseph Kenny for contributing this article to our Bonds blog:
However, certain criteria ought to be considered before investing in a bond. Let us take a short tour through how investing in a bond could benefit you.
Before Investing
The working of a bond primarily depends on whether you need to invest money for a long or short term. Besides, it also depends on your tax status, the period and investment goals. There are some basic strategies on hand, which should be considered before making any investments. For instance, putting all your assets and risks in one single asset class would not be a good idea. It is better to diversify the risks by creating a portfolio of several bonds within the bond. By choosing different issuer’s bonds, you could protect yourself from the possibility that one of the issuer’s may not be able to pay back the amount owed.
After Investing
After investing, a par value, or the amount of money the investor receives after maturity of the bond, is calculated. This means the amount (principal) owed should be returned to the investor. The coupon rate is the amount received by the bondholder as the percentage of the par value. Lastly, a maturity date is arrived at wherein the bond issuer needs to return the principal amount to the lender.
To arrive at how much a bond would yield, one could divide the amount of interest paid over the course of a year by the current price of the bond. Prices of bonds fluctuate; hence, the current price is always taken into consideration. However, if you decide to sell before the maturity date, it is advisable to do it at the current rate of the market.
Types of bonds
There are different types of bonds available. For example, government, corporate, agency, mortgage-backed securities, municipal, etc. In addition, different maturity level bonds are also available; these help in managing the interest rate risk.
The treasury bonds available from the US government have maturity dates ranging from 3 to 5 months to thirty years.
Corporate bonds, on the other hand, which are sold through public security markets, are a little risky and have high interest rates.
Local and state government bonds have higher interest rates, as unlike the federal government, there are more chances of them going bankrupt.
Foreign bonds are difficult to buy, and is mostly done as a part of a mutual fund. However, investing in them can turn out to be risky.
To conclude, even though certain bonds may be risky, or offer a lower rate of interest, buying bonds are a safe option, as they are sound investments. Securing a number of bonds gives the owner a good credit rating and helps to prove his or her financial stability.
Thanks to Joseph Kenny for contributing this article to our Bonds blog:
Joe Kenny writes for the Credit Card Guide, offering the latest 0% credit cards, visit today for introductory balance transfers and start clearing credit card debt today.
Visit today: http://www.cardguide.co.uk/
Visit today: http://www.cardguide.co.uk/
Stock and Bond Trading Powers Modern Asset Allocation
April 26, 2009 by How Savings Bonds Work
Filed under About Bonds
For most individual investors, trading is approached in a totally speculative manner. Stock trading, in its more popular forms (Day Trading, Swing Trading, etc.) includes none of the elements that a conservative investment strategy would contain: little if any attention is given to the Quality of the equities selected; Diversification is determined by chance alone; no attempt is made to develop an increasing and dependable stream of Income. But stock trading by individual investors doesn’t deserve quite as bad a “rep” as it has earned. After all, its very foundation is profit taking, probably the most important and most often neglected of the activities required for successful investment management. Unfortunately for most equity traders, loss taking is a more common occurrence.
Bond, and other income security trading is generally avoided by most non-professionals. Obviously, it takes more investment capital to establish positions in corporate and municipal bonds, real estate, and government securities than it does in equities, and the volatility that traders thrive upon is just not a standard feature of the mundane world of income investing. Surprisingly, most investment professionals avoid a more exciting approach to income investing that is actually safer for investors and less inflexible in the face of changing interest rate expectations. Certainly, Wall Street financial institutions pressure their representatives to push individual new issues and/or investment products, but I think that the market value fixation that stretches from Wall Street to Main Street is the real culprit. Income securities need to be assigned a value that recognizes the safety of their income production and market value changes should only to be viewed as opportunities for increasing yield or taking rare, but wonderful, profits.
Consequently, most trading is done in an equity only environment that is too speculative for most mature (in whatever sense you choose) investors. But this is not the way it needs to be. Since stock prices are likely to remain volatile in the short run and cyclical in the long run, there will always be opportunities for profit taking. Similarly, there are no rules against taking advantage of the cyclical nature of interest-rate-sensitive security prices. Trading is the world’s oldest form of commercial activity, and it is unfortunate that it is treated with such disrespect by our dysfunctional tax code. It is even more unfortunate that it is looked at askance by client attorneys and brokerage firm compliance officers… masters of hindsight that they are.
Trading does not have to be done quickly to be productive, and it doesn’t have to focus on higher risk securities to be profitable. And perhaps most importantly, it doesn’t have to avoid the interest-rate-sensitive income securities that are so important to the long-term success of any true investment portfolio. Once a trader/speculator is weaned off the gambling mentality that brought him to the shock market in the first place, he can apply his trading skills to investing and to portfolio management. The transition from trader/speculator to trader/investor requires some education… education that generally cannot be obtained from product salespersons.
Step one is to gain an appreciation of the power of Asset Allocation. Asset Allocation is the process of dividing the portfolio into two conceptual securities buckets. The primary purpose of the equity bucket is to produce growth in the form of realized capital gains. The other bucket contains securities whose primary purpose is to produce some form of regular income… dividends, interest, rents, royalties, etc. The percentage allocated to each is a function of a short list of personal facts, concerns, goals, and objectives. The cost basis of the securities must be used in all asset allocation calculations. Asset allocation itself is a portfolio planning exercise that is based on the purpose of the securities to be purchased, and long term in nature. It should not be “rebalanced” or altered due to current market conditions or suppositions about the future.
Market values are used in the selection process that identifies potential trading candidates and as the trigger mechanism for profit taking decisions. Cash from all income sources is always destined for one bucket or the other, depending on the cost-based asset allocation formula. Selecting equities must first be fundamental, then technical… quality first, and market price second. My trading experience is that higher quality companies purchased at a 20% or more discount from the 52-week high, with a profit target of approximately 10%, is a very manageable approach. The proceeds find their way back into the “smart cash” pot for asset allocation according to formula. There will be times when smart cash will grow quickly while the list of new trading candidates shrinks, but when trading candidates are all over the place, smart cash can only be replenished with income produced by both securities buckets. Thus, insistence upon some form of income from all securities owned makes enormous sense.
What about trading the income bucket securities? Enter the managed closed-end income fund (CEF), as tradable as any common stock, and in a surprising variety of income producing specialties ranging from preferred stocks to royalty trusts, treasuries to municipals, and REITs to mortgages. No more worries about liquidity and hidden markups. No more cash flow positioning or laddering of maturities. And best of all, no more calls of your highest yielding paper when interest rates fall. Instead, you are taking capital gains, compounding your yield, and paying your dues to the equity bucket with every transaction. And when interest rates move back up… you’ll have the luxury of reducing your cost basis by adding additional shares. Of course its magic… that’s what we do here on Wall Street!
Thanks to Steve Selengut for contributing this article to our Bonds blog:
Bond, and other income security trading is generally avoided by most non-professionals. Obviously, it takes more investment capital to establish positions in corporate and municipal bonds, real estate, and government securities than it does in equities, and the volatility that traders thrive upon is just not a standard feature of the mundane world of income investing. Surprisingly, most investment professionals avoid a more exciting approach to income investing that is actually safer for investors and less inflexible in the face of changing interest rate expectations. Certainly, Wall Street financial institutions pressure their representatives to push individual new issues and/or investment products, but I think that the market value fixation that stretches from Wall Street to Main Street is the real culprit. Income securities need to be assigned a value that recognizes the safety of their income production and market value changes should only to be viewed as opportunities for increasing yield or taking rare, but wonderful, profits.
Consequently, most trading is done in an equity only environment that is too speculative for most mature (in whatever sense you choose) investors. But this is not the way it needs to be. Since stock prices are likely to remain volatile in the short run and cyclical in the long run, there will always be opportunities for profit taking. Similarly, there are no rules against taking advantage of the cyclical nature of interest-rate-sensitive security prices. Trading is the world’s oldest form of commercial activity, and it is unfortunate that it is treated with such disrespect by our dysfunctional tax code. It is even more unfortunate that it is looked at askance by client attorneys and brokerage firm compliance officers… masters of hindsight that they are.
Trading does not have to be done quickly to be productive, and it doesn’t have to focus on higher risk securities to be profitable. And perhaps most importantly, it doesn’t have to avoid the interest-rate-sensitive income securities that are so important to the long-term success of any true investment portfolio. Once a trader/speculator is weaned off the gambling mentality that brought him to the shock market in the first place, he can apply his trading skills to investing and to portfolio management. The transition from trader/speculator to trader/investor requires some education… education that generally cannot be obtained from product salespersons.
Step one is to gain an appreciation of the power of Asset Allocation. Asset Allocation is the process of dividing the portfolio into two conceptual securities buckets. The primary purpose of the equity bucket is to produce growth in the form of realized capital gains. The other bucket contains securities whose primary purpose is to produce some form of regular income… dividends, interest, rents, royalties, etc. The percentage allocated to each is a function of a short list of personal facts, concerns, goals, and objectives. The cost basis of the securities must be used in all asset allocation calculations. Asset allocation itself is a portfolio planning exercise that is based on the purpose of the securities to be purchased, and long term in nature. It should not be “rebalanced” or altered due to current market conditions or suppositions about the future.
Market values are used in the selection process that identifies potential trading candidates and as the trigger mechanism for profit taking decisions. Cash from all income sources is always destined for one bucket or the other, depending on the cost-based asset allocation formula. Selecting equities must first be fundamental, then technical… quality first, and market price second. My trading experience is that higher quality companies purchased at a 20% or more discount from the 52-week high, with a profit target of approximately 10%, is a very manageable approach. The proceeds find their way back into the “smart cash” pot for asset allocation according to formula. There will be times when smart cash will grow quickly while the list of new trading candidates shrinks, but when trading candidates are all over the place, smart cash can only be replenished with income produced by both securities buckets. Thus, insistence upon some form of income from all securities owned makes enormous sense.
What about trading the income bucket securities? Enter the managed closed-end income fund (CEF), as tradable as any common stock, and in a surprising variety of income producing specialties ranging from preferred stocks to royalty trusts, treasuries to municipals, and REITs to mortgages. No more worries about liquidity and hidden markups. No more cash flow positioning or laddering of maturities. And best of all, no more calls of your highest yielding paper when interest rates fall. Instead, you are taking capital gains, compounding your yield, and paying your dues to the equity bucket with every transaction. And when interest rates move back up… you’ll have the luxury of reducing your cost basis by adding additional shares. Of course its magic… that’s what we do here on Wall Street!
Thanks to Steve Selengut for contributing this article to our Bonds blog:
Steve Selengut
Sanco Services
Value Stock Index
Author: “The Brainwashing of the American Investor: The Book that Wall Street Does Not Want YOU to Read” and “A Millionaire’s Secret Investment Strategy”.
What Do You Know About Bonds?
April 26, 2009 by How Savings Bonds Work
Filed under About Bonds
A bank or establishment will give you bonds in exchange for you lending them cash; they issue bonds that promise to compensate yourself back in the time to come including interest.
Bonds are they gamble free?
A bond has low gamble elements but it is not gamble free. If you buy corporate bonds, this means that you are buying a claim to their assets. Just like conventional persons big corporations tend to take on debt, which must be paid back, they take on debt in a trust to grow. It is possible for them to take on too much debt which they are not able to pay the loan back. Just like a conventional person being not able to make their credit payments. If a company was to file for bankruptcy they would be unable to to payoff the bonds that you bought from them. This means that the investor, which is yourself can on paper lose the bonds that you invested in them, as luck would have it bonds are not normally lost this way.
If you invest in bonds, they can be sold to the market at any time. Similar to stock bonds they have an assigned price driven by the market. If you choose to sell it on the open market, you should keep in mind that people will enquire to know the rate of interest the bonds pay out and the rate the market values it at. For example, if you own a bond paying five percent interest and you want to sell it when the interest has expended up to 9% you’re going to get a lower cost than what you paid. A person could at ease get a new bond, instead of your bond.
The different varieties of bonds
Municipal Bonds: - Municipal bonds are also known as ‘minis’. They signify the bonds, which have been issued by municipal corporations. Municipal bonds allow the holder to claim tax exemption.
Corporate Bonds: - Big corporate companies float such bonds. These bonds carry rather a higher gamble element no matter how big the corporate company is.
Government Bonds: - If a regime authority wants to raise cash they broadly issues regime bonds. These are generally gamble free in nature and will provide the owner with tax exemptions.
Saving Bonds: - The regime will also issues savings bonds, a huge vantage of these bonds is that you can get tax exemptions by investing in these bonds, features of mutual bonds, always important to see the features of the specific bond you may want to invest in. factors to study are Maturity period, purchase cost and fiscal constraints also deciding factors, these should all be interpreted into account when investing in mutual bonds.
In conclusion
Bonds are excellent over looked investment acknowledging the low gamble bonds have it is amazing how many people have little to no information about them. Bonds require very simply understanding; you buy them and sell them if you want to. They key to investing in bonds is to set a time frame for how long you intend to keep the bonds. Bonds are ordinarily a long term investment. When investing in corporate bonds, always read up on their current bond rating. A bond evaluation is a letter grade assigned to each bond to tell investors how high-risk it is. Don’t deal with “junk” bonds.
Thanks to Uchenna Ani-Okoye for contributing this article to our Bonds blog:
Bonds are they gamble free?
A bond has low gamble elements but it is not gamble free. If you buy corporate bonds, this means that you are buying a claim to their assets. Just like conventional persons big corporations tend to take on debt, which must be paid back, they take on debt in a trust to grow. It is possible for them to take on too much debt which they are not able to pay the loan back. Just like a conventional person being not able to make their credit payments. If a company was to file for bankruptcy they would be unable to to payoff the bonds that you bought from them. This means that the investor, which is yourself can on paper lose the bonds that you invested in them, as luck would have it bonds are not normally lost this way.
If you invest in bonds, they can be sold to the market at any time. Similar to stock bonds they have an assigned price driven by the market. If you choose to sell it on the open market, you should keep in mind that people will enquire to know the rate of interest the bonds pay out and the rate the market values it at. For example, if you own a bond paying five percent interest and you want to sell it when the interest has expended up to 9% you’re going to get a lower cost than what you paid. A person could at ease get a new bond, instead of your bond.
The different varieties of bonds
Municipal Bonds: - Municipal bonds are also known as ‘minis’. They signify the bonds, which have been issued by municipal corporations. Municipal bonds allow the holder to claim tax exemption.
Corporate Bonds: - Big corporate companies float such bonds. These bonds carry rather a higher gamble element no matter how big the corporate company is.
Government Bonds: - If a regime authority wants to raise cash they broadly issues regime bonds. These are generally gamble free in nature and will provide the owner with tax exemptions.
Saving Bonds: - The regime will also issues savings bonds, a huge vantage of these bonds is that you can get tax exemptions by investing in these bonds, features of mutual bonds, always important to see the features of the specific bond you may want to invest in. factors to study are Maturity period, purchase cost and fiscal constraints also deciding factors, these should all be interpreted into account when investing in mutual bonds.
In conclusion
Bonds are excellent over looked investment acknowledging the low gamble bonds have it is amazing how many people have little to no information about them. Bonds require very simply understanding; you buy them and sell them if you want to. They key to investing in bonds is to set a time frame for how long you intend to keep the bonds. Bonds are ordinarily a long term investment. When investing in corporate bonds, always read up on their current bond rating. A bond evaluation is a letter grade assigned to each bond to tell investors how high-risk it is. Don’t deal with “junk” bonds.
Thanks to Uchenna Ani-Okoye for contributing this article to our Bonds blog:
Uchenna Ani-Okoye is an internet marketing advisor and co founder of Free Affiliate Programs
For more information and resource links on bonds visit: Savings Bonds
