Halls of Shrewd'm / US Policy
No. of Recommendations: 1
Smells like just another Trump scam. Is it?
President Donald Trump rang the opening bell for Nasdaq and the New York Stock Exchange from the Oval Office on Monday to mark the first day of trading.
Trump Accounts now join the list of other existing tax-advantaged accounts intended to benefit kids’ futures (eg, custodial Roth IRAs, 529 plans, etc.), each of which has its own rules, limitations and benefits.
While Trump Accounts do nothing to lessen the complexity for families deciding which accounts best suit their needs and means, they have raised awareness of the value of investing in US children from birth, provide an avenue for third parties to contribute to a child’s future and provide federal seed money for newborns.
www.cnn.com/2026/07/06/business/trump-accounts-launch
No. of Recommendations: 7
Smells like just another Trump scam. Is it?
If his name is on it…
No. of Recommendations: 0
“Smells like just another Trump scam. Is it?
If his name is on it…”
Yet in this one case it’s not a scam, it’s actually a very efficient savings vehicle that parents can establish for their kids.
https://www.irs.gov/trumpaccounts
No. of Recommendations: 2
Yet in this one case it’s not a scam, it’s actually a very efficient savings vehicle that parents can establish for their kids.
Very smart to start those and the college education equivalents.
Michael Dell just pledged $250 a child…for the first 25 million who sign up.
No. of Recommendations: 1
it’s not a scam, it’s actually a very efficient savings vehicle that parents can establish for their kids.
ONLY if all the money actually goes to the kids. NO FEES OF ANY KIND. FEES = SCAM.
No. of Recommendations: 1
Very smart to start those and the college education equivalents.
Indeed. These are too late for us, but we did take full advantage of 529 college savings and Roths for the kids when they started earning from part-time jobs.
I'll be sure to tell our nephew about Trump accounts...baby due in the fall.
No. of Recommendations: 1
ONLY if all the money actually goes to the kids. NO FEES OF ANY KIND. FEES = SCAM.
Trump Account fees for minors are capped by law at a maximum annual expense ratio of 0.10% (or 10 basis points). This means that for every $1,000 invested, annual fees cannot exceed $1.
That's reasonable. Management fee for a Vanguard S&P500 fund in our 529 is 0.1388%. It does cost something to run the fund.
