The One Big Beautiful Bill Act (OBBBA) created a new tax-deferred account for minors called “Trump Accounts.” According to a report released by the White House’s Council of Economic Advisors, children born between 2025 to 2028 qualify for a free $1,000 seed contribution from the federal government to sweeten the deal. They must be a U.S. citizen or legal resident with a Social Security number (SSN) and have at least one parent with an SSN. Trending Now: 8 Ways Trump’s ‘One Big Beautiful Bill’ Could Offer ...

Gen X isn’t known for its optimism. After all, this is the cohort best remembered for grunge and slogans like “fluent in sarcasm.” That pessimism has extended to their attitude toward retirement: In a recent study conducted by Northwestern Mutual — appropriately titled “Reality Bites” — more than half of Gen X respondents said they don’t feel financially ready for retirement. For You: Here’s How Much You Need To Retire With a $100K Lifestyle Learn About: How To Get Guaranteed Growth On Your Money — Without ...