Trump Accounts Launch July 4 With 6 Million Children Enrolled as Women’s Savings Gap Persists
Updated
Updated · CNBC · Jun 29
Trump Accounts Launch July 4 With 6 Million Children Enrolled as Women’s Savings Gap Persists
3 articles · Updated · CNBC · Jun 29
Summary
More than 6 million children were enrolled in Trump Accounts by mid-June ahead of the July 4 launch of the new 530A investment accounts.
Parents, grandparents and others can contribute up to $5,000 a year until age 18, while babies born from 2025 through 2028 receive a $1,000 Treasury seed deposit.
Experts said the program may encourage early investing but is unlikely to close women’s retirement gap, which Vanguard put at $146,476 for women versus $194,597 for men at end-2025.
That gap reflects lower pay — women earn 81 cents per $1 earned by men — and heavier caregiving burdens, with women making up three in five caregivers.
Economists said the accounts could still indirectly help mothers by reducing pressure to tap their own retirement savings for children, though family investment biases toward boys may persist.