Ask the Dolans: Should I cash in EE savings bonds?

Ken and Daria Dolan, America's first family of personal finance, answer your questions every Friday.

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There are billions of dollars worth of E and EE savings bonds tucked away in safety deposit boxes and laying at the bottom of drawers around the country. There is more than $700 million worth of savings bonds out there! Savings bonds used to be the investment of choice for people who had a small amount to invest or who wanted to give a small gift. Find out if yours are still paying interest, what they are worth and whether you should cash them in.

Dear Ken and Daria,

I have some EE savings bonds from 1986. I'm wondering, do these still pay interest? If I cash them in, will I have to pay any taxes? Please tell me if you think these are a good investment. Thank you.

--Gene

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