Trump accounts get funding from companies, philanthropists: Here's who is eligible for the funds

Core Viewpoint - The Dalio family, along with tech CEO Michael Dell and his wife, is contributing to a new initiative aimed at providing financial support to children in Connecticut through the establishment of "Trump accounts" [2][3]. Group 1: Financial Contributions and Eligibility - Approximately 300,000 children in Connecticut will receive $250 each from the Dalios' commitment, targeting those in ZIP codes with a median income below $150,000, which encompasses about 87% of Connecticut ZIP codes [3]. - Children born between 2025 and 2028 may receive a one-time $1,000 contribution from the Department of the Treasury, with no income requirements for eligibility [5]. - Children aged 10 or under, born before January 1, 2025, may also qualify for the $250 grant from the Dell family if they reside in qualifying ZIP codes [6]. Group 2: Investment Structure and Growth Potential - The Trump accounts will invest in a diversified portfolio of low-cost index funds, with restrictions on investment options compared to other tax-advantaged accounts [9][10]. - The accounts must track a "qualified index," and annual fees cannot exceed 0.1%, with no leverage allowed [10]. - Projections indicate that a $1,000 initial deposit could grow to $5,800 after 18 years, based on historical S&P 500 averages of over 10% annual returns [12].