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“Trump accounts,” the new investment vehicle for children that was part of the so-called One Big Beautiful Bill Act, could help parents create the next generation of millionaires — if they prioritize those savings for their kids’ retirements many decades from now.
The accounts will become available July 5, and American children born between Jan. 1, 2025, and Dec. 31, 2028, are eligible for a government-issued $1,000 contribution, according to
Trumpaccounts.gov, the official website for the program. Parents or a child’s legal guardians will be the custodians of the account until the child turns 18, and contributions will be capped at $5,000 per year to start with.
