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Compound interest accounts
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beavertwp
Posted 6/15/2022 22:01 (#9707457 - in reply to #9707417)
Subject: RE: Compound interest accounts


East central Illinois
Bubba David - 6/15/2022 21:39

Thanks for all the replies.

Cat33,
Do they put a max on how much you can put in? As of right now my wife and I don’t foresee needing the money right away, so it would be long term. I’d like to put $1-2,000 into it per month over the course of the next several years.


Max amount is $10k/yr for each individual. (You could invest an extra $5k when you submit your taxes. I don't know what form it is.)

Rates change every 6 months (May and November) . It's a combination of inflation and fed interest rate.
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