The White House is launching Trump Accounts on July 4, a program that will provide $1,000 to babies born during President Donald Trump’s second term, which will be invested in the stock market.
Eligibility and Contributions
Parents can open an account for their children if they are born between Jan. 1, 2025, and Dec. 31, 2028. To qualify, the baby must be a U.S. citizen, have a Social Security number, and meet the birth date requirements. Families can sign up for the accounts at TrumpAccounts.gov.
The Treasury Department plans to transfer the initial $1,000 to each account beginning tomorrow, to be invested in the stock market by private firms. Parents, family members, friends, and employers can contribute up to $5,000 annually on an after-tax basis, though contributions from the government and charities will not count toward this limit.
Projected Growth
The White House and even Florida Rep. Randy Fine have suggested that a child born today could accumulate approximately $243,000 in their account by age 55 without any additional contributions. Several investment calculators confirm that a Trump Account could reach around $243,000 by age 55.
Original reporting: KCCI Des Moines — read the source article.
