What are "Trump Accounts"? Building Wealth for a New Generation

Everything you need to know about the new "Trump Accounts," with Certified Financial Planner Practitioner Tom Kovach of Waddell & Reed in Dublin, Ohio. "Trump accounts" (Section 530‑A): eligible children born 1/1/2025–12/31/2028 receive a $1,000 federal seed deposit, families and employers can contribute, investments are limited to low‑cost index mutual funds/ETFs, and accounts convert to a traditional IRA at age 18. The episode covers contribution limits, investment rules, the July 4 launch, how to open an account at trumpaccounts.gov or via IRS Form 4547, and hypothetical growth examples that show the power of early compounding. Smart Money with Tom Kovach Thursdays at 7:30 am during the Breakfast Club with Mark Bingaman & Sherry Fisher on My 967, Classic Rock 95X and 93X.