Parents can open an account for their children if they are born during President Trump’s 2nd term. *** baby must also be *** US citizen, have *** Social Security number, and be born between January 1st, 2025 and December 31, 2028. Families can sign up at trumpaccounts.gov. Now beginning tomorrow, the accounts are set to open for deposits. The Treasury Department plans to transfer the $1000. The money will be invested in the stock market by private firms. Parents, family members, friends, and employers can contribute up to $5000 *** year. An after-tax basis, but government and charities do not count towards that limit. Now the White House is suggesting *** child born today could have around $243,000 in their accounts by the time they’re 55 without any additional contributions. Several investment calculators predict *** Trump account could hit around $243,000 in 55 years, but some experts also note that all depends on market performance. In Washington, I’m Rachel Hirsheimer.
Trump Accounts launch tomorrow. Find out if your child qualifies to receive $1,000
The White House plans to launch Trump Accounts on July 4, offering $1,000 to newborns during President Trump’s second term to grow through stock market investments.
The White House is launching Trump Accounts on July 4, a program that will provide $1,000 to babies born during President Donald Trump’s second term, which will be invested in the stock market. Parents can open an account for their children if they are born between Jan. 1, 2025, and Dec. 31, 2028. To qualify, the baby must be a U.S. citizen, have a Social Security number, and meet the birth date requirements. Families can sign up for the accounts at TrumpAccounts.gov. The Treasury Department plans to transfer the initial $1,000 to each account beginning tomorrow, to be invested in the stock market by private firms. Parents, family members, friends, and employers can contribute up to $5,000 annually on an after-tax basis, though contributions from the government and charities will not count toward this limit. Children can’t access money in the account until they’re 18 years old. Once they hit 18, they can use the funds for specific purposes, like paying for their education, buying a home, and starting a business. The White House and even Florida Rep. Randy Fine have suggested that a child born today could accumulate approximately $243,000 in their account by age 55 without any additional contributions. Trump shared his thoughts on the program during an appearance on CNBC earlier this week. “When that baby becomes a man or a woman, they can have hundreds of thousands of dollars, maybe more, but they can have hundreds of thousands of dollars because we’re seeding it,” Trump said. Several investment calculators confirm that a Trump Account could reach around $243,000 by age 55. Our partners at PoltifFact also point out that this projection assumes a 10% annual gain, which some experts note could vary based on market performance. If a more conservative annual return of 6.7% is used, the account could grow to $40,000 in 55 years.Keep watching for the latest from the Washington News Bureau:
The White House is launching Trump Accounts on July 4, a program that will provide $1,000 to babies born during President Donald Trump’s second term, which will be invested in the stock market.
Parents can open an account for their children if they are born between Jan. 1, 2025, and Dec. 31, 2028. To qualify, the baby must be a U.S. citizen, have a Social Security number, and meet the birth date requirements.
Families can sign up for the accounts at TrumpAccounts.gov.
The Treasury Department plans to transfer the initial $1,000 to each account beginning tomorrow, to be invested in the stock market by private firms.
Parents, family members, friends, and employers can contribute up to $5,000 annually on an after-tax basis, though contributions from the government and charities will not count toward this limit.
Children can’t access money in the account until they’re 18 years old. Once they hit 18, they can use the funds for specific purposes, like paying for their education, buying a home, and starting a business.
The White House and even Florida Rep. Randy Fine have suggested that a child born today could accumulate approximately $243,000 in their account by age 55 without any additional contributions. Trump shared his thoughts on the program during an appearance on CNBC earlier this week.
“When that baby becomes a man or a woman, they can have hundreds of thousands of dollars, maybe more, but they can have hundreds of thousands of dollars because we’re seeding it,” Trump said.
Several investment calculators confirm that a Trump Account could reach around $243,000 by age 55. Our partners at PoltifFact also point out that this projection assumes a 10% annual gain, which some experts note could vary based on market performance. If a more conservative annual return of 6.7% is used, the account could grow to $40,000 in 55 years.
Keep watching for the latest from the Washington News Bureau: