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‘The Big Money Show’ panel explains how ‘Trump Accounts’ could compound over time to help children build wealth, buy homes, and secure their financial futures.<\/p>\n
The White House announced on Wednesday Trump Accounts will drop a mobile app to track investments placed into children’s accounts as part of the administration’s new initiative.<\/p>\n
“TOMORROW: Trump Accounts, on your phone,” the White House wrote in an X post. “Manage everything. Watch the growth. All in ONE place.”<\/p>\n
The Wall Street Journal first reported account activation will begin for those who have already enrolled.\u00a0<\/p>\n
The app, which was designed by Joe Gebbia and National Design Studio in partnership with BNY and Robinhood, can be downloaded through Apple or Google starting Thursday.<\/p>\n
It will feature eight exclusive financial literacy modules that families can immediately access, an initiative that officials told FOX Business is a top priority for Treasury Secretary Scott Bessent.<\/p>\n
The Trump Accounts app will feature eight exclusive financial literacy modules that families can access before the July 4 rollout. (U.S. Department of the Treasury \/ Fox News)<\/p>\n
HOW TO KNOW IF YOUR CHILD QUALIFIES FOR A TRUMP ACCOUNT: ‘A FINANCIAL STAKE IN THE FUTURE’<\/p>\n
The initiative, which debuted in January, is a provision of the new tax legislation that will dole out $1,000 to every newborn U.S. citizen whose parents enroll them in the program.<\/p>\n
No contributions are necessary, but parents can deposit up to $5,000 per year, which will be invested in American companies in the stock market.<\/p>\n
At age 18, without any additional contributions, it is estimated a child’s account will be worth $5,800. By age 55, a child’s account without any additional contributions will reach roughly $200,000.<\/p>\n
US President Donald Trump speaks during the Trump Accounts Launch Summit in Washington, DC, US, on Wednesday, Jan. 28, 2026. (Valerie Plesch\/Bloomberg via Getty Images \/ Getty Images)<\/p>\n
NEW TRUMP ACCOUNTS PITCHED AS TAX-SEASON GATEWAY TO BUILDING WEALTH<\/p>\n
With a $5,000 contribution each year, an account will be worth nearly $304,000 by the time the child turns 18, or $2.7M by the time the child reaches 55.<\/p>\n
“For the first time ever, we’re going to give every newborn American child a financial stake in the future,” President Donald Trump said during an event announcing the program in January. “Head start life and a fair shot at the American dream, something people have talked about so much.”<\/p>\n
“Over the next 15 years, we’re going to put $3 to $4 trillion of wealth into the hands of young Americans who otherwise would have really started out with nothing,” he added. “\u2026 Decades from now, I believe that Trump Accounts will be remembered as one of the most transformative policy innovations of all time.”<\/p>\n
The White House announced a new app for Trump Accounts will drop on Thursday. (Trump Accounts \/ Fox News)<\/p>\n
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Every American child born between Jan. 1, 2025, and Dec. 31, 2028, will be eligible. Children can be enrolled when parents file their taxes.<\/p>\n
The account will be in the child’s name and parents will act as the sole custodian until they turn 18.<\/p>\n
The program will launch July 4, coinciding with America’s 250th anniversary.<\/p>\n
#Trump #Accounts #releases #mobile #app #ahead #July #program #launch<\/p>\n","protected":false},"excerpt":{"rendered":"
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