1. "Bilbo was very rich and very peculiar, and had been the wonder of the Shire for sixty years, ever since his remarkable disappearance and unexpected return. The riches he had brought back from his travels had now become a local legend, and it was popularly believed, whatever the old folk might say, that the Hill at Bag End was full of tunnels stuffed with treasure. And if that was not enough for fame, there was also his prolonged vigour to marvel at. Time wore on, but it seemed to have little effect on Mr. Baggins. At ninety he was much the same as at fifty. At ninety-nine they began to call him well-preserved, but unchanged would have been nearer the mark. There were some that shook their heads and thought this was too much of a good thing; it seemed unfair that anyone should possess (apparently) perpetual youth as well as (reputedly) inexhaustible wealth. 'It will have to be paid for,' they said. 'It isn't natural, and trouble will come of it!' But so far trouble had not come; and as Mr. Baggins was generous with his money, most people were willing to forgive him his oddities and his good fortune." "At that time Frodo was still in his tweens, as the hobbits called the irresponsible twenties between childhood and coming of age at thirty-three."
2. Frodo is Bilbo's first and second cousin, once removed either way.
3. His fireworks! They are legendary, and it is very rare to see them in person.
4. The guests were very startled and bewildered at why Bilbo made his exit that way. He chose to do it so he wouldn't be disturbed when he went back to the Mountains.
5. It whispers to him, telling him to keep it forever. It allows him to go invisible and givehim almost immortal life.
6. I'd say they are very old friends- (no pun intended)
7. Only a day, I think???
8. A great ring would have lots of power, but a curse usually comes with it.
9. The Ring was cut off from his hand.
10. A great and wise wizard liek gandalf could not keep the ring. It would be a disaster if he were to be possessed by the