‘Trump accounts’: Wall Street-backed investment funds for children to go live

Savings plans for children born between January 2025 and December 2028 launched as president seeks electoral boost

Trump accounts, a savings vehicle named after the US president and authorized by congressional Republicans, are set to go live on Saturday, offering American parents a new way to save money for their children by investing in funds managed by major Wall Street firms.

All accounts established for children born between January 2025 through December 2028 - nearly the entirety of Donald Trump's second term - will receive $1,000 from the government. Parents, friends and employers will be able to deposit as much as $5,000 a year into the accounts.