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What would u do?

Just a random question if somebody had a 50k goverment bond that will mature in 5 years but the person holding the bond got sick and it's 50/50 chance for the person to see the mature date. By cashing the bond now u would lose 10k of the bond meaning u would only get 40k instead of the 50k full mature amount.
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Would u try to wait it out and hope u get better to get the full mature amount or would u cash out the bond and take the penalty on it?
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A lot depends on what other resources are available .. if you can get by and hold it, I would. I've got sons it can help if I dont make it and hopefully some life to live then if I do.
Oneofthestormboys · 56-60, M
What a shame that you guys have to pay for your health in many cases…
Given the choice between health and wealth, I’d go for health.
You (or the person you’re referring to) could reinvest whatever is left over, and possibly claw it back over 5 years…
samueltyler2 · 80-89, M
@Oneofthestormboys too many in the US become indebted or worse bankrupt, because of the cost of medical care. Often though,often it isnt the direct cost that is the killer, rehab, home care, etc. H
If it's electronic, I think you can just update the beneficiary.

I'd check into that.
Or set it to auto deposit into a joint acct with that person and the intended beneficiary.
are there heirs involved? would the 40k make any meaningful change in the holder's life up to and including possibly saving them? I feel like some more data is needed for me to make any kinda meaningful contribution.
tobynshorty · 51-55, F
If it’s meant to be an inheritance then I would leave it.
ChipmunkErnie · 70-79, M
I'd try to ride it out to full maturity UNLESS I really needed that $40,000 right now.
MarineBob · 61-69, M
Have a will
meJess · F
Depends if you need the money, guessing someone who can buy a 50k bond has other money for living on.
cherokeepatti · 61-69, F
I would do it now and invest in gold & silver. And I mean right away.
ninalanyon · 61-69, T
Take the money and go out in a blaze of glory.

Unfortunately such a diagnosis is usually made when someone is in such a bad way that they aren't fit enough to enjoy the money.
dale74 · M
Wait unless you need the money but also assign someone a beneficiary uncase you dont make it.
samueltyler2 · 80-89, M
The rise k benefit has to come into play. Do you "need" that money now?
NYCChick · 31-35, F
@samueltyler2 say the person is getting by but could use the money
samueltyler2 · 80-89, M
@NYCChick again it depends on the degree of need. If the money makes life better than it may be worth it. Then again,the bond owner might be able to use the bond as collateral for a loan. The owner should check with their financial planner.
Musicman · 61-69, M
@samueltyler2 Today's interest rates are higher then the bond is paying. Borrowing against it would be a really bad deal. You would be paying back more than the bond pays out.
HumanEarth · F
Is it a paper bond or one of them fake digital bonds
NYCChick · 31-35, F
@HumanEarth real bond goverment issued
HumanEarth · F
@NYCChick I have real government paper bonds. I hear they have digital ones. I would never trust them.

I need something I can hold with my bare hands to believe in
Musicman · 61-69, M
If you need the money then take it now. If not then let it mature.
laotzu92 · M
@Musicman Exactly.

 
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