It does stem to be a good idea, and looks like it might benefit the average Americen, which is surprising from the current administration.
What is not surprising is the narcissistic name Trump has used for this. I dare say that would be offputting to millions, me included.
"Trump Accounts" are Now Live, Here's What to Know
Any child with a Social Security number who is under age 18 at the end of the year the account is established.Under a pilot program, the Treasury Department is seeding the accounts with $1,000 for children born between Jan. 1, 2025 and Dec. 31, 2028, who have a Social Security number and are U.S. citizens.When are they available?The accounts rolled out on July 4, according to the Treasury Department, which is overseeing the program. Banks and other financial institutions are administering accounts. Bank of New York Mellon and Robinhood Markets are managing the initial accounts.The accounts can be rolled over to other companies. Vanguard, for one, has said it is supporting rollovers.How do people get an account?At launch, all contributions to Trump Accounts are invested in the State Street SPDR Portfolio S&P 500 ETF , a low-cost exchange-traded fund that tracks the performance of the S&P 500 index. The Treasury Department has selected other low-cost index ETFs for the lineup from BlackR
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