Trump Launches $1,000 Child Savings Accounts for Babies Born Through 2028
Updated
Updated · WSB Atlanta · Jul 6
Trump Launches $1,000 Child Savings Accounts for Babies Born Through 2028
3 articles · Updated · WSB Atlanta · Jul 6
Summary
Parents can now open Trump Accounts, or 530-As, for children, with U.S. babies born from January 2026 through 2028 eligible for a $1,000 government-funded deposit.
The accounts let parents and employers add up to $5,000 a year after tax, aiming to give children a way to invest and build savings from an early age.
Some children in eligible ZIP codes can receive an extra $250, and the Dell Foundation said about 70,000 children in Atlanta could qualify.
Consumer adviser Clark Howard called the $1,000 grant “free money” but said families should weigh 529 plans and IRAs before contributing beyond any government or employer funds.