Friday, March 30, 2012

Savings and government bonds account difficulty

I came home from work today and went to open up a Treasury Direct account.  I had one before, but I couldn't remember what all my account information was.  So, I have to fill out an account authorization and mail it in.  It needs to be certified by an signature guaranteed stamp or medallion stamp.  Not to be confused with a public notary.

I'm a little disappointed that I couldn't start putting money in the account.  I am saving the money for my kids in case they decide to go to college.  As of today...interest earnings may be excluded from Federal income tax when used to finance education (see education tax exclusions).  Which means the money is just as good as putting it in a Roth IRA, without the restrictions.  Speaking of the Roth IRA...I am not a fan of the Roth IRA.  This discussion will have to be saved for a later date as why I dislike the Roth IRA. 

I have only 3 more days before my CPA exam.  I also know there are several big college basketball games this weekend.  I hope all of you have a great weekend!

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