Comments on: “How Do I Use This Money To Honor My Grandparents?”

By: Femme @ Femme Frugality

Femme @ Femme Frugality — Mon, 27 Feb 2017 07:12:52 +0000

In reply to J. Money.

Some basic KYC info plus month and year of purchase. I didn’t need to do this, but would have been easy enough to remember as Grandpa always bought in my birthday month. :)

https://www.treasurydirect.gov/indiv/research/indepth/ebonds/res_e_bonds_eereplace.htm

By: J. Money

J. Money — Thu, 23 Feb 2017 19:35:18 +0000

In reply to Emily. That's a cool idea!

By: J. Money

J. Money — Thu, 23 Feb 2017 19:35:03 +0000

In reply to Becky. Lots of great ideas here in the comments if you haven't already read them :)

By: J. Money

J. Money — Thu, 23 Feb 2017 19:34:00 +0000

In reply to Fritz @ TheRetirementManifesto. I agree!

By: J. Money

J. Money — Thu, 23 Feb 2017 19:33:37 +0000

In reply to Primal Prosperity. I like that idea :) Kinda like that old movie Brewster's Millions when they had to spend all the money within a set amount of time!

By: J. Money

J. Money — Thu, 23 Feb 2017 19:32:18 +0000

In reply to femmefrugality. Ooooh i didn't know that! how do you prove you own it though? cuz they have a record of them all online?

By: Emily

Emily — Thu, 23 Feb 2017 13:47:34 +0000

I would use it for something that you can enjoy now and then pass on to your daughters. A great pair of diamond stud earrings you can wear now and then give one diamond to each daughter to be put into a necklace or ring when they reach a milestone like graduation, marriage, etc. would let you enjoy their gift and also pass it on. If you’re not into jewelry, you can do art, furniture, cookware, anything as long as it is heirloom quality.

By: Becky

Becky — Wed, 15 Feb 2017 18:22:53 +0000

I am in a similar situation. I have a bond from my grandfather that will mature this year, I believe around $1000. I am trying to decide what to do with it, but I also feel that I should honor my family with it as well. My grandfather grew up in the depression, so I know he would be proud of me if I put it toward debt. But I feel like that is only a small chunk of our debt so we would still be in the same boat, trying to pay everything off. I graduated without student loans and my husband has under $5000. Our current high debt is on our vehicles. Anyway, should I put a chunk towards a debt and use some for something that honors him? That is what I will probably do, but its great to hear other opinions.

By: Jacq

Jacq — Sun, 12 Feb 2017 04:29:26 +0000

My savings bonds go into savings / Roth. I used savings money for the down payment for my house. I used to just go to the bank 1x a year but decided I’d rather earn the interest / market gains vs letting it sit idle past maturity.
I had bonds from 86 and didn’t have anything significant happen that year….then I read an article that there was a special promotion with 7% interest early in the life of the bond. Sweet deal for me in 2016.
I love the tree idea!
I agree to not use it for the debt, and was going to suggest a pay it forward for her kids 529 with some of it. As noted her great grandparents wanted her to have the money, so I do think a treat for her / the family would be nice.
It sounds like she is a thoughtful caring young woman, and I’m sure her relatives will be honored because she is putting thought and planning into this.

By: ZJ Thorne

ZJ Thorne — Sat, 11 Feb 2017 04:17:47 +0000

What a kind thing for her great-grandparents to have done. I would most likely re-invest the money, but would consider using part of it for a fun family thing that would involve great memories.