Strategic Resources May 2024 Corporate Presentation
Savings Bond Training Webinar
1. Tax Time Savings for all with U.S. Savings Bonds: Training Webinar
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19. Example Savings Bond John Q. Saver 123 Main Street Anywhere, WA 99000-0000 OR Jen Saver 123-45-6789 01 2009 FRB-MPLS 04-15-07 2 :C000090007 :04 000000000000 C000000000I Purchaser’s Social Security Number Owner’s Name & Address (Co-Owner Name, if any) Authentication Stamp Issue Date
20. Bond Features & Benefits Benefits Reach saving goal sooner No fees to erode savings Simple tax site order process saves time Easy to give savings as a gift Value not lost as prices rise Feature Competitive return (3.1% currently) No fees Convenient Can buy for others Inflation protection Loss & theft protection Savings are safe
21. Bonds vs. Savings Accounts or CDs Savings Bonds: CD-like returns, no fees and a $50 minimum Typical Savings Account* Typical 1 Year Certificate of Deposit (CD)* Series I U.S. Savings Bond Rate of Return .51% .80% 3.1% Annual Fees $0 $0 $0 Minimum to Open $100 $1,000 $50 Rate Fixed No Yes Adjusts bi-annually Minimum Holding Period None 1 year 1 year Early Redemption Penalty / Forfeiture None All interest earned to withdrawal date 3 months interest (redemptions within 5 years of purchase) ChexSystems Review Yes Yes No May Buy as a Gift No No Yes *Source: National Average rates, www.bankrate.com
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23. And Another Quiz Which of the following are true about Series I U.S. Savings Bonds: A. They pay a competitive interest rate (3.1% currently). B.They can be purchased for as little as $50. C.They can only be redeemed where they were purchased. D.They can be purchased as gifts for anyone else – all you need is the gift recipient's name. All of these statements are true except letter C. U.S. Savings Bonds can be redeemed at most banks and credit unions nationwide, not just where they were purchased.
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39. Another One Which of the following are good ways to begin a conversation about savings bonds with tax clients? A. Do you want to buy a savings bond? B.Have you heard about our new saving option this year? What questions do you have? C. Has anyone talked with you today about savings bonds? What do you think about them? Both letter B & C are good conversation starters. They are open-ended, non-threatening and will help you learn more about the client’s thoughts and feelings.
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