Trump Accounts: New Kid-Friendly IRAs with $1K Seed

Trump Accounts are set to revolutionize American childrens financial future, with a government-funded IRA for babies born from 2025 to 2028. Five million children, including 1.2 million newborns, are eligible. The accounts, owned by the child but managed by parents until age 18, launch July 5, 2026. Parents can sign up online or on their 2025 tax return. The Treasury, Bank of New York Mellon, and Robinhood are partnering to handle custody and build an app. Contributions are capped at $5,000 per year from individuals and $2,500 from employers. Investments are limited to low-cost index funds, with fees under 0.1%. At 18, the account becomes a regular IRA with more options. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/375ec9f9724a6fa8