Trump Accounts vs. 529 Plans: Everything Parents Need to Know

Should you open a 529 Plan, a Trump Account, a Roth IRA, or another investment account for your child?In this episode of Through The Noise, David Elmore and Marlana Lancaster break down the most popular ways to save and invest for children–from college savings plans to the newly introduced Trump Accounts. They discuss the pros and cons of each option, recent changes to 529 plans, why trade schools deserve more attention, and how parents can use Roth IRAs and even family businesses to build long-term wealth for the next generation.Whether you're a new parent, grandparent, or simply planning ahead, this episode will help you understand which savings strategy may fit your family's goals.00:00 - Preview00:39 - Introducing "Through the Noise"01:28 - Ignore the Market Noise02:21 - Best Ways to Save for Your Child02:49 - 529 Plans Explained04:16 - What Are Trump Accounts?05:36 - How Much Could a Trump Account Grow?06:27 - Why Investing Early Matters07:24 - New Benefits Added to 529 Plans08:07 - Using 529 Plans for Trade School09:10 - Can You Pay Student Loans with a 529?09:45 - What Happens to Leftover 529 Money?10:46 - Converting a 529 into a Roth IRA11:58 - UTMA/UGMA Custodial Accounts13:25 - Keeping Investments in the Parent's Name15:18 - Using a Roth IRA for College Savings16:31 - Funding a Roth IRA for Your Child17:37 - Can FMI Help Set Up a 529 Plan?18:20 - Final Thoughts