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I'm am trying to seed an IRA for my 19 yr old daughter. In checking with my bank and a couple of on line houses it seems that a minimum is $500-$2000 to open the account. Since I'm foolishly paying off that last credit card (the end is in sight!) I'd rather not tie up cash that way but I'd still like to get her started early since she is most impressed with compound interest. Can anyone direct me to a list of institutions with lower minimums or is $500-$2000 pretty standard?


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