President Trump’s plan to help children build up a nest egg for their 18th birthday officially begins. The program has been dubbed “Trump accounts,” which are stock portfolio accounts for children. President Trump said, “Children, at the age of 18 and after, become very wealthy people, come into the world with essentially no money and end up, at a pretty young age, being very rich.”
Eligible children get a one-time $1,000 contribution from the Federal government, with the money being invested by default in the S&P 500 ETF, though more options are expected later. The money is tax-protected until the child turns 18. Parents can enroll their children at trumpaccounts.gov.
Baby’s first stock portfolio: Trump marks ‘Trump Accounts’ launch with historic bell-ringing– www.theblaze.com
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EXCERPT:
For the first time ever, the New York Stock Exchange and Nasdaq have jointly rung their bells from the White House.
President Trump rang the opening bells of both exchanges from the Oval Office on Monday, marking the official launch of Trump Accounts for children.
‘Children, at the age of 18 and after, become very wealthy people, come into the world with essentially no money and end up, at a pretty young age, being very rich.’
The accounts, created under the One Big Beautiful Bill Act, became available for contributions starting July 4 and are open to children who won’t turn 18 by year’s end.
Every eligible child gets a one-time $1,000 seed contribution from the federal government, and family or employers can add more, up to annual limits. The money is invested — by default in an S&P 500 ETF, with more options coming — and grows, tax-advantaged, until the child turns 18. Parents can enroll for free at TrumpAccounts.gov.
