Tag

Idme

All articles tagged with #idme

economy1 month ago•8 min saved

Opening a Baby Trump Account: how the $1,000 government gift works and why it matters

Author Mia de Graaf documents opening a Trump Account for her newborn—a government-backed savings vehicle that grants a $1,000 contribution and can host additional private deposits. Sign-up involves InvestAmerica.org, an IRS Trump Accounts portal, ID.me verification, and a 4547 form; the initial $1,000 is invested in SPYM and can’t be touched until the child turns 18. Experts say such accounts can foster a future-focused mindset, but families should still prioritize debt repayment and emergency savings. The author plans to hold off on extra contributions for now while taking advantage of the government money.

via Business Insider|

#child-savings-accounts #economy #government-contribution

personal-finance2 months ago•10 min saved

Trying the government-backed Trump Accounts for my newborn: how it works

A new government-backed Trump Accounts program seeds eligible newborns with $1,000 in a child-owned investment account that can’t be touched until age 18. The author tests the Trump Accounts app, completes the sign-up via the IRS portal using ID.me, and learns the account can accept additional contributions from families and outside donors. Experts say a small government seed can boost long-term planning and a “college-bound identity,” but the author plans not to contribute beyond the initial $1,000 yet, prioritizing daycare costs, debt, and emergency savings. She views taking the free money as sensible amid high expenses while evaluating her family’s finances.)

via Business Insider|

#baby-savings-account #child-savings-accounts #idme

social-security2 years ago•2 min saved

"Social Security Shifts to Login.gov: Update Your Account Now"

The Social Security Administration is requiring users who created a my Social Security account before September 18, 2021, to switch to a Login.gov or ID.me account to continue accessing their information. This transition aims to simplify secure sign-ins and reduce wait times for customer service. Approximately 46 million out of 86 million account holders need to make this switch, though no final deadline has been set. Existing Login.gov or ID.me users do not need to take any action.

via CBS News|

#benefits #idme #logingov