FoF: 💰Trump Accounts: Free Money or Just Another IRA?

Welcome to the 9Innings Podcast where we Educate, Empower and Engage. ON THIS WEEKS PODCAST: Trump Accounts have been pitched as a new way to help children build wealth, but what are they actually, and who benefits the most? In this episode of Facts Over Feelings, Kevin Thompson breaks down what Trump Accounts are, what they aren't, and three major ways they differ from other IRAs. We discuss the $1,000 government contribution, taxes, investment restrictions, and why parents may want to compare these accounts to a 529 plan if education is the goal. Are Trump Accounts a real wealth-building tool, or will the biggest benefits go to families who already have the money to contribute? These are the facts. You can decide how you feel about them. How Trump Accounts Work (00:01:40) Difference 1: No Earned Income Required (00:02:54) Difference 2: Restricted Investment Choices (00:04:17) Difference 3: The Money is Locked Up (00:07:02) Comparison with 529 Plans for Education (00:08:04) Kevin's Perspective: Are They Revolutionary? (00:10:24) What Should You Do? (00:12:51) NEWSLETTER (WHAT NOW): https://substack.com/@9icapital?r=2eig6s&utm_campaign=profile&utm_medium=profile-page Follow Us: youtube: / @9icap Linkedin: / kevin-thompson-ricp%c2%ae-cfp%c2%ae-74964428 facebook: / mlb2cfp Buy MLB2CFP Here: https://www.amazon.com/MLB-CFP%C2%AE-90-Feet-Counting-ebook/dp/B0BLJPYNS4 Website: http://www.9icapitalgroup.com Hit the subscribe button to get new content notifications. Corrections: Editing by http://SwoleNerdProductions.com Disclosure: https://sites.google.com/view/9idisclosure/disclosure