U.S. Government Introduces 'Trump Account' Savings Plan for Children Born 2025-2028

The U.S. government is launching the 'Trump Account,' a federal savings program providing a $1,000 initial deposit for children born between 2025 and 2028. Families can contribute up to $5,000 annually, with funds locked until the child turns 18 for use in education, housing, or business. Eligibility requires U.S. citizenship and a Social Security Number at birth. Employers and others may also contribute. Alternatives like 529 plans and Roth IRAs remain options for families with older children or different needs.