If you or someone you know has a baby or a child under 18, you’re likely wondering if they should get a “Trump Account.”
The U.S. government started giving babies born during President Donald Trump’s second term a US$1,000 gift on July 4, 2026. This money goes into the accounts, which are named after the president. To get the free money, the babies’ parents or guardians just have to submit the required paperwork.
I am a business school professor who studies wealth, savings and spending. Additionally, I am expecting another grandchild soon. While other members of our family are picking out decorations for the baby’s room, my task is deciphering Trump Accounts.
While these accounts clearly could help boost savings, they come with many restrictions that limit their usefulness for important expenses young Americans incur, such as paying for college and buying their first home.
IRAs for jobless babies
