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$1K 'Trump Accounts' for Kids: How Do They Stack Up?

Summary by WGN 9
(NerdWallet) - President Donald Trump’s “one big, beautiful bill” is launching a new way to save for children’s futures: the “Trump Account.” This investment account gives kids who meet certain requirements $1,000 courtesy of the federal government. But a Trump Account may not be a superior replacement for existing investment tools just yet. What is a Trump Account? Formerly called “Money Accounts for Growth and Advancement,” or “MAGA accounts,”…

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U.S. babies born this year until 2028 are eligible to receive $1,000 from the government for a new type of account that aims to help families have a good economic start. Trump accounts, created as part of the fiscal and spending plan promulgated by President Trump, are structured as a sort of hybrid individual retirement account, financial experts said. The single spin comes in the form of initial federal government capital. About 3.6 million ba…

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The Thinking Conservative broke the news in on Friday, July 11, 2025.
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