‘Trump Accounts’ start soon: How to get $1,000 for your child
Syracuse.com••business
Key Points:
- The new "Trump Accounts," established under a provision in President Trump's 2024 bill, will provide $1,000 seed money for every child born between 2025 and 2028, invested in the stock market and accessible at age 18.
- Parents or guardians can open these accounts for children under 18 with a valid Social Security number, with accounts for children born after 2024 receiving the $1,000 government deposit; older children can open accounts but without the government seed money.
- Contributions up to $2,500 annually can be made by parents or employers on a pretax basis, with a total yearly contribution cap of $5,000 excluding government and charity contributions.
- Estimated growth suggests an account
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