Parents Weigh Skepticism Over Trump-Backed Kids Accounts
TL;DR
Trump Accounts offer $1,000 seed money for children through a government-backed program, but many parents remain cautious about scams and political risk. Financial advisers say to take the funds and pair them with other savings vehicles like 529 plans or Roth IRAs, noting the accounts convert to a Traditional IRA at age 18 and that donors may add money in some cases. The program’s projected cost to taxpayers could be around $15 billion through 2034.
Topics:businesspolitics#child-investment#financial-advisors#government-seed-money#politics#tax-advantaged-accounts#trump-accounts
- ‘Too Good To Be True’: Many Parents Are Wary Of Opening A Trump Account. Here’s Why Financial Experts Say They Should. HuffPost
- Should you sign your kids up for Trump Accounts? Four things to consider NPR
- Parents of Some Babies Face Delays Opening Trump Accounts WSJ
- Two cheers for Trump Accounts The Economist
- The White House said Americans have invested $125 million in Trump Accounts in the first 5 days Business Insider
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