New York —
On July 4, one week from today, parents across the United States will be able to start contributing to a Trump Account, the newest option to invest in their child’s future.
The investment accounts have attracted a wave of interest from eligible families who want to claim the $1,000 government contribution for children born between 2025 and 2028.
But these accounts are entering an already crowded landscape of parental saving options, from 529 plans to custodial investment accounts and custodial Roth IRAs.
Choosing the right account can be confusing, since many can be used for similar goals — like education or long-term savings — but differ in their rules, tax benefits and tradeoffs.
