A Trump IRA for kids? It’s worth a bit of money. But here are better options | Gene Marks
by Gene Marks from US news | The Guardian on (#6YXTJ)
The Trump baby account will be good for beer money when your kids are in college. Don't neglect to fund better plans
There's Trump Mobile, $Trump coins, Trump watches, Trump sneakers and now ... the Trump baby savings accounts! Will it be popular? As a financial adviser, I'm not so sure.
The Trump IRA (or individual retirement account) was established as a part of the recently passed big, beautiful bill" and aims to help young people save. Parents and employers can annually contribute up to $5,000 into an account for their kids who are under the age of 18. Within limits, the contributions are not taxed to the employee and employers even receive a deduction.
Continue reading...