Investing
Investing
Posted on Oct 28, 2014
Do "bonds" purchased in boot camp expire?
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I remember having an option to buy a few $50 "bonds" during USMC boot camp back in 1996. I remember the purchase was automatic and withdrawn from my paycheck for a few months to cover the 3 or 4 bonds I had agreed to purchase. I don't remember what the bonds were for exactly. They may have been war bonds. However, I do remember that they were supposed to mature in 7 or 10 years to $100 each.
I remember thinking about it a lot, because as an E-1 $50 was a lot of money. I remember looking at my LES and realizing there would be a few hundred dollars worth when they matured, but I don't remember being given any certificates of ownership or any paperwork proving that I ever purchased them, other than the withdrawals from my LES's, which obviously I no longer have those LES's. I remember asking an admin clerk about them, and was told it should be recorded in my SRB. So I didn't think anymore about it, until after I had separated.
I separated in 2001 due to injury. I remember waiting a few years to inquire about the bonds, which would have been in 2004 and 2005. I did not find any mention of them in the copy of my SRB I have. I tried to contact the VA about it, and was transferred to or given several phone numbers to contact. It seemed I was being given the run around, and no one connected to the VA resources I was in contact with had any idea what I was talking about. Finally, I remember being given a specific number to call and put in a request to have them investigate the issue, but I never heard anything back.
I did some research online about it, but never found anything solid. To be fair, the folks investigating the issue may have sent me some information in the years that followed, but I had moved and lost the numbers I was given, so if they sent anything, I never got it. I haven't been able to find that number since.
Does any one remember buying bonds in boot camp?
Has anyone had any luck finding out how to retrieve them and cash them in?
I would appreciate any feedback. Thanks.
I remember thinking about it a lot, because as an E-1 $50 was a lot of money. I remember looking at my LES and realizing there would be a few hundred dollars worth when they matured, but I don't remember being given any certificates of ownership or any paperwork proving that I ever purchased them, other than the withdrawals from my LES's, which obviously I no longer have those LES's. I remember asking an admin clerk about them, and was told it should be recorded in my SRB. So I didn't think anymore about it, until after I had separated.
I separated in 2001 due to injury. I remember waiting a few years to inquire about the bonds, which would have been in 2004 and 2005. I did not find any mention of them in the copy of my SRB I have. I tried to contact the VA about it, and was transferred to or given several phone numbers to contact. It seemed I was being given the run around, and no one connected to the VA resources I was in contact with had any idea what I was talking about. Finally, I remember being given a specific number to call and put in a request to have them investigate the issue, but I never heard anything back.
I did some research online about it, but never found anything solid. To be fair, the folks investigating the issue may have sent me some information in the years that followed, but I had moved and lost the numbers I was given, so if they sent anything, I never got it. I haven't been able to find that number since.
Does any one remember buying bonds in boot camp?
Has anyone had any luck finding out how to retrieve them and cash them in?
I would appreciate any feedback. Thanks.
Money
Investing
Boot Camp
Posted >1 y ago
Responses: 13
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The bonds you would have purchased in 1996 would almost certainly have been Treasury Bonds of some sort. I'm pretty sure we haven't sold war bonds since 1945 - although maybe we should have, but that's a whole different discussion.
The Treasury Department should have a record of the bonds you bought - presuming they were properly entered into the system back in 1996. This link should help you get started: http://www.treasurydirect.gov/indiv/tools/tools_treasuryhunt.htm
The Treasury Department should have a record of the bonds you bought - presuming they were properly entered into the system back in 1996. This link should help you get started: http://www.treasurydirect.gov/indiv/tools/tools_treasuryhunt.htm
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Sgt Alvin P. Liendo "Tanto" Unfortunately I do not remember having the chance to purchase bonds at basic training. In my limited experience with them they do not typically (at least the ones I have seen) expire and can be cashed in so long as you have the paperwork.
Have you tried to contact anyone in the USMC about this issue?
Otherwise, without the numbers and paperwork you may be out of luck...
Have you tried to contact anyone in the USMC about this issue?
Otherwise, without the numbers and paperwork you may be out of luck...
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Sgt Alvin P. Liendo "Tanto"
Thanks for the feedback. I will try to contact the DFAS again and report back.
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SFC Jim Ruether
I bought some savings bonds when I was in back in 1982. Checked the maturation of the bonds and its a long way off. A $50 savings bond I bought in 90' or 91' for $25.00 is worth about 28.75. Not a real money maker if you know what I mean.
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SSG (Join to see)
SFC Jim Ruether that seems to be a trend I found with some other people who bought bonds...
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LtCol William Bentley
If you bought them at the right times, the interest rates on some years of savings bond was quite good...and they are literally guaranteed. As always in financial products, the less risk, the less reward. See today's CD's pulling .1%, etc.
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