The Trump administration has framed its new investment account, Trump accounts, as an early wealth-building tool for children — one that officials have said could make your kid a millionaire by their late 20s.
But financial advisors and policy experts say the numbers depend on annual contributions and investment performance, among other factors.
“As parents, if we make maximum contributions to our child’s Trump account, the projected value will be nearly $1.1 million by the time they are 28 years old,” White House Press Secretary Karoline Leavitt said Jan. 28 at the Trump Accounts Summit in Washington, D.C.
Later that day, President Donald Trump told summit attendees that “with every modest contribution, Trump accounts should reach at least $50,000 in value” by age 18 and could be “very substantially more than that.”
Here’s a look at other stories affecting the financial advisor business.
