Once that’s done, I and my husband can each buy $10,000 per year of I-Bonds. Any trust with a unique TIN can also buy $10,000. If I had kiddies, I could buy each of them $10,000 to be held UGMA. And this can be done every year.
It adds up.
Unless you are very wealthy, over the years the amounts involved can be significant.
Absolutely! The $29,000 I have in i-bonds purchased in 1998 has grown to $73,000 – $29k in the S&P500 would be worth $146,000 today. I’ll leave it to the student to determine which bank balance offers more “safety”.
intercst