Group 1 - The Trump Accounts initiative aims to provide $1,000 to children born between 2025 and the end of 2028 for individual retirement accounts, allowing investments in U.S. stock index funds until the child turns 18 [5] - Robinhood Markets is a leading candidate to oversee the Trump Accounts, with the Treasury Department considering selecting up to three financial companies as trustees [2] - Other financial institutions like JPMorgan Chase, Wells Fargo, and Bank of America have expressed interest in participating in a secondary role related to rollover accounts, which could be less costly while still gaining access to new funds and customers [4] Group 2 - Billionaires, including Michael Dell, are contributing to the funding of the Trump Accounts, and some companies like Coinbase Global are matching contributions for their employees' children [6] - The initiative is part of the One Big Beautiful Bill Act, which could lead to significant new fund launches and management opportunities for the selected trustees [3] - Older brokerages such as Fidelity Investments and Vanguard Group have not been included in the list of candidates for the Trump Accounts [4]

Treasury Secretary Scott Bessent on Wednesday discussed how the newly introduced “Trump Accounts” could serve as “a rainy day fund” for the children when they reach adulthood. Bessent Dismisses Wealth Gap Concerns Critics have warned that Trump Accounts could widen the U.S. wealth gap, as wealthy families can contribute the full $5,000 annually while lower-income households may struggle to save. However, Bessent, in a conversation with CBS Saturday Morning co-host Kelly O’Grady, dismissed the concern, a ...

Corrections and clarifications: An earlier version of this story included H&R Block as a company matching donations to Trump Accounts. It is not. Big businesses and big names are encouraging Americans to cash in on the recently touted "Trump Accounts." President Donald Trump's administration hosted a Trump Accounts Summit on Jan. 28 to unveil a new federal program that will create savings accounts for American children born between Jan. 1, 2025, and Dec. 31, 2028. Officially called 530A accounts, the "Tru ...

Group 1 - President Trump announced that rapper Nicki Minaj is pledging hundreds of thousands of dollars in donations to her fans' Trump Accounts, which are new investment accounts for children [1][7] - Minaj's donation is estimated to be between $150,000 to $300,000, although the final amount remains uncertain [3][7] - The Trump Accounts are set to launch on July 5, 2026, and will provide a one-time $1,000 donation from the U.S. Treasury for babies born between January 1, 2025, and December 31, 2028 [4][5] Group 2 - The accounts have a $5,000 annual contribution limit, indexed to inflation, and are designed to be similar to IRAs, with funds accessible only when the child turns 18 [5] - Other high-profile individuals, such as Michael Dell and Ray Dalio, have also announced significant donations to these accounts, with Dell planning to donate $6.25 billion for 25 million children [6][7] - Employers like Charles Schwab, Robinhood, and JPMorgan have committed to matching the U.S. Treasury's one-time contribution, adding an additional $1,000 per child [7]

JPMorgan Chase and Bank of America are stepping up to bolster President Donald Trump’s new “Trump Accounts” initiative, announcing plans to match the U.S. government’s $1,000 seed contribution for their U.S. employees’ eligible children. This move underscores growing corporate support for the program aimed at jumpstarting long-term savings for American kids. The matching pledges for Trump Accounts come amid escalating tensions between the Trump administration, on the one hand, and JPMorgan CEO Jamie Dimo ...

By Lauren Young NEW YORK, Jan 28 (Reuters) - "Trump Accounts" are tax-advantaged investment accounts designed to boost the savings of U.S. citizens under the age of 18. More than 500,000 families have signed up for the program, which the government will roll out this summer. HOW TRUMP ACCOUNTS WILL WORK The government will launch the program in July. The U.S. Treasury will deposit $1,000 of seed ​money into investment accounts for all children born between 2025 and 2028 with a valid Social Security nu ...

I'm joined now by Treasury Secretary Scott Besson. Mr. . Secretary, thank you so much for joining us.It's great to have you on. >> Great to be with you. >> We are here today at the Trump Accounts Summit and it feels like an inflection point for capitalism, for bridging the gap for income inequality.What do Trump accounts mean for the next generation of Americans and for our economy. >> Look, I I I I think it's taking the capital markets to everyone. I always say it's the biggest merger in history.It's Wall ...

The government pledges to create an account for any baby born between 2025 and 2028, and to fund it with a one-time deposit of $1,000. To qualify, the baby need only have a Social Security number.Here’s how the accounts work, according to analyses from Morningstar , the Tax Foundation and other sources:“To me, if I drew a best-case scenario on that thousand dollars, it would be sitting in that IRA, compounding, until I retired,” said J. Spencer Williams , founder and CEO of the Retirement Clearinghouse, a f ...

Bank of America will match the U.S. government's $1,000 pilot contribution for all eligible U.S. employees to Trump Accounts, according to an internal memo seen by Reuters on Wednesday. ...

Core Viewpoint - The "Trump Accounts," established under the One Big Beautiful Bill Act, are criticized as a political stunt rather than a substantive financial initiative [1][2][3] Group 1: Criticism of Trump Accounts - Personal finance expert Dave Ramsey labeled the Trump Accounts as a "political stunt," suggesting they are more about gaining political attention than providing real financial benefits [1][2] - Ramsey advised against incorporating these accounts into savings strategies, stating they are not as revolutionary as existing options like Roth IRAs or 529 plans [2] - Economist Peter Schiff described the accounts as unconstitutional and fiscally irresponsible, arguing that giving newborns $1,000 to invest is a gimmick that distracts from more significant fiscal issues [3] Group 2: Alternative Strategies - While some experts criticize the Trump Accounts, many Americans are opting for long-term financial strategies that do not depend on government initiatives [4]