Alabama Governor Kay Ivey is encouraging families in the state to take advantage of a new federal program designed to help children begin building wealth at an early age. The Trump Accounts, available starting July 4, 2026, are tax-advantaged investment accounts intended to help families save for major life expenses while teaching young people about investing and long-term financial planning.

Program Details

The program offers a $1,000 contribution from the U.S. Treasury for every American child born between January 1, 2025, and December 31, 2028. Families may contribute up to $5,000 annually to help maximize growth. Once a child turns 18, the account transfers into their control and can be used for major expenses such as purchasing a first home, pursuing higher education, or other qualifying opportunities.

Supporters of the program say it not only provides a financial foundation but also helps teach children the value of investing and how money can grow over time through compound earnings. For additional information, families can complete IRS Form 4547, call 866-USA-4547, or visit the program’s website.

Original reporting: The Tuscaloosa Thread — read the source article.