Linked article explains it well. Buy in October to get 9.62% for 6 months from purchase, then rate resets for next 6 months (likely to be about 6.5%). If you wait until November you miss the 9.62% rate.
I-Bond Opportunity

How does one purchase and what is the max that one can invest?

Max amount is $10,000 per person per year

Can I use the Texas Business and Commerce Code definition of "person"?

"Person" means an individual or a corporation, partnership, limited liability company, business trust, trust, association, or other organization, estate, government or governmental subdivision or agency, or other legal entity, or a protected series or registered series of a domestic limited liability company or foreign entity.



Looks like there are ways to increase your investment, but sounds like a huge hassle.

No hassle. Takes about 20 minutes to set up account on TreasuryDirect and link your checking account. Can buy $10k per year per entity: you, spouse, trust, business. Can also buy other Treasury securities through same site - have been buying 2-year Treasury notes for last 6 months - got 4.25% on September note.

You can also buy an additional $5,000 if you do so with your tax refund. Don't usually have a refund? Make an estimated tax payment on or before Jan 15th to make sure you overpay.

JR

I did this in August, seemed like a good time to take advantage of high rates. Better than cash sitting in the bank at least.

Yeah, I wouldn't go to the trouble of setting up an LLC etc just for this purpose. But if someone already had such an entity set up, it wouldn't hurt to use it.

The redhead and I have our i bonds set up for automatic investments every month. It's intended to be our 'emergency' funds for things like house repairs or such. Don't intend to make a big profit on this. It's just one of the few things guaranteed not to lose value (like CD's USED to be!).

Agreed,
Was pretty simple. Have to have pretty quick fingers though. The site will time-out, and makes you start over! Did it for both of us. At least we have 20K earning some money!

if you put in your money now do you lock into that rate until the bonds mature or does it reset to whatever the new rate is?

I bonds reset every six months. Guaranteed at some fixed interest rate + an inflation rate. Won't get wealthy with them, but they're a safe place to park some cash and earn some interest.

Can you take your money out after the 6 months?

Can withdraw after 1 year. But pay a penalty of 3 months interest.

No penalty after 5 years.

I finally manage through the website and invested the max for me. Will do one for the wife as soon as I am comfortable everything worked ok. Question: Can I do it again after Jan 1 or do i have to wait a full year to do it again?

Limits reset on January 1. Last year I max purchased in December and then again 10 days later in January. Will likely buy again this coming January unless best available 1-year CD rates rise another 150 basis points by then.