Watch live coverage as President Trump makes an announcement on planned so-called "Trump accounts," savings accounts for children that the government will help seed. The announcement comes as the Dell family announced they would be giving $6.25 billion to create 25 million additional accounts. For more context and news coverage of the most important stories of our day, click here: https://www.nbcnews.com » Subscribe to NBC News: http://nbcnews.to/SubscribeToNBC » Watch more NBC video: http://bit.ly/MoreNBCN ...

Interest Rate & Yield - Top savings, CD, brokerage, and Treasury accounts offer up to 5% returns [1] - Today's best yields are not expected to last long [1]

Account Types - Checking and savings accounts serve different but complementary purposes [1] - The report highlights the importance of understanding when to use each type of account [1] - It suggests that having both checking and savings accounts can be a smart financial strategy [1]

Government Initiative - A new tax legislation creates tax-advantaged investment accounts for every child born from the beginning of 2025 through the end of 2028 [1] - Eligible newborns receive a $1,000 contribution from the government [2][4] - Other children under the age of 18 may also be eligible [2] Account Features - Capital gains rate is lower than the ordinary income rate when withdrawing [2] - Parents have a contribution limit of $5,000 [3] - Employers have a contribution limit of $2,500 [3] Considerations - Families should consider Trump accounts versus educational savings accounts or HSAs [3] - The program's $1,000 contribution raises concerns about becoming a broader new entitlement [4]