President Trump has set up something similar to IRAs for newborn babies, that they can access at age 18 for education and housing expenses. Babies start with a $1000.00. Families can add up to $5000.00 a year. Billionaires and other donors are being encouraged to add to the accounts. The Dell computer family just gave 6 billion towards it, which gives every baby around $250.00 more. The compounded interest should add up to a lot of money at 18.

https://www.msn.com/en-us/money/mar...-claim-one/ar-AA1RyS3z?ocid=BingNewsSerp

Keith

I’m a huge fan of getting folks investing,,,,but not sure this is a good idea

Government definitely not good,,,,, private individuals maybe,,,

Free money rarely ends well,,very rarely

Investing 6B in low cost index funds just pumps everyone’s current bag

It’s great for current investors

Sounds like dells are putting 6.5 themselves,,,, and others will add more

Maybe there will be no actual government money???

The first thousand dollars comes from the US Treasury. The government gives much more in tax credits, that are paid out, even when not earned. That money is typically quickly spent, not saved and grown through compounded interest, like the Trump account.

The 6.5 billion from the Dells is a private donation. It doesn't cost the US taxpayer anything. Other billionaires and people are being encouraged to donate too.

Social Security is going to fail. Most people would retire much, much more wealthy if they could put the money Social Security takes and out it in an IRA. The Trump Account is allowing the babies to avoid going into as much debt slavery for education and housing expenses. This puts them in much better financial positions in life. It also gets people thinking about a better system to pay for their retirement. I think the Trump Account is genius.

Keith

When the debt is increasing 1 Trillion$ every 160 days,,,

Free government money doesn’t make sense to me,,,,, even if it pumps my bags

But like they say,,,,, nothing stops the train

Stupid is as stupid does.

This will end up like social security - pilfered and broke. Politicians won't keep their hands off it.

Social security won't fail, at least not until the government can borrow and print money.

Old people will vote out whomever dares touch the golden calf.

Its been accepted since 1935. It has worked for 90 years.
Except now folks who have never worked and never will are abusing the system.

If you believe that, you don't know how social security works.

Every time he touches something to do with economics I cringe a little more. So far from being a fiscal conservative but looking closer and closer to a Roosevelt socialist everyday

Imagine kids in high school or even junior high having regular discussions about stocks or the S&P 500 and comparing their portfolios. The Trump account could get them interested in investing, saving, and financial management at a young age. The Trump account could be a great financial jumpstart for them. It might even get their parents interested.

Create good habits and interests. I think its a great idea.

Hopefully they include “Weimar hyperinflation” in the lesson plan

Each of my kids have their own brokerage accounts. Both of my boys brought me cash from their mowing and odd jobs to "put into something" I have direct deposits going in for them all each month. Go over their statements with them and told them I will also match the $ for dollar with anything they put into a Roth in addition to what I put in their account each month. They know how growth and compounded works. But that still won't stop dumb decisions of youth and desire for instant gratification and impulse buys. . However I'm hoping they learn having seen them show regrets after making some purchase on things after the fact. Like $300 Auto knife expensive phone that has already been broken among other things. One of the benefits of them working and spending the money they are learning young with smaller amounts than say for example buying a to expensive car or house later. At least that's what I hope for.

No government kick start was required.

I suspect the Trump accounts it will pump up the markets and national debt and little will ever be added to the accounts and it will be blown by the kids when they get access to it. but hopefully at least a small % get interested in getting educated on how to build wealth and change their families cycle.

[align:right][/align]
Trumps never been a conservative, there's only a handful of conservative Republicans left.

Maybe that was when America was great. MAGA!