Parents Weigh Skepticism Over Trump-Backed Kids Accounts
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.