Why Trump Accounts Could Completely Upset the Retirement Game—And What It Means for Your IRA Savings.
Presented as a new form of birthright investment account, could these accounts really rival, or even surpass, Individual Retirement Accounts (IRAs)? A closer look is in order.
A financial boost from birth
The principle behind Trump Accounts is simple: for each child born between 2025 and 2028, the US Government automatically pays an initial deposit of $1,000, provided the child has a Social Security number.
Thereafter, parents, employers or other entities can contribute up to $5,000 per year to this account, with inflation indexation scheduled to begin in 2027.
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