Trump Accounts Explained: The New $1,000 Child Savings Benefit (And What Most Are Getting Wrong)
Video Overview & Insights
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I’m confused. It’s post tax money and not treated like a Roth?! There’s still taxes on that money?!
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There's a brand-new savings account just for kids created by the One Big Beautiful Bill Act, and the media is already getting it wrong. It’s called the Trump Account, and it might just be the most misunderstood part of the new law. In this episode, Scott breaks down exactly what these accounts are, who qualifies, how contributions work, and the timelines parents and grandparents need to know.
Your math is wrong for $79k
Here’s what we cover in this episode:
🍼 Who qualifies for the $1,000 government deposit
I'm just sticking with my kids custodial account.
💵 Annual limits, timelines, and contribution rules
📈 The compounding potential over a lifetime
Hey you guys didn't mention the children who aren't born 2025 ?? It says my children can join even though they won't get the $1000 they will get $250 ... yall didn't speak on that though .... is there a reason ??
🛠 How parents, grandparents, and employers can contribute
🔍 Key misconceptions the media is getting wrong
$1,000 one time government & private contribution to children into trump account, automatically at birth. Jan 1 2025 to December 31 2028
0:00 – Intro
1:42 – What is a Trump Account?
obvious scam.
2:00 – Government Contributions
4:36 – Private Contributions Before Age 18
The question I am unclear about is with the taxes and the contributions. As it is set up now it looks illegal. If I put in 1k to my kids Trump account I have already paid income tax on that money. When my child hits 18 lets say that 1k turns into 2k. I accept they will have to pay taxes on the gains, but that is a double hit on my original 1k if the kid has to pay it too (I am thinking conversion). If the kid is being hit with the income on the princable these accounts are useless. There is not reason to fund this, just put the money into a brokerage account for them. Capital gains is a much better rate than income in most cases.
9:09 – Contributions On or After Age 18
12:02 – Employer and Government Contributions
Yeah, he should just give it to kids all under 18 the thousand dollars
13:23 – Key Planning Opportunities & Unknowns
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If a kid has a Roth IRA already, what would happen when they turn 18?
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Can the entire fun be converted to a Roth IRA? And at what time should that be done? At 18?
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If it's Trump, it's a scam. He'll pocket the interest- or rather his equally soulless and corrupt family.
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This video has been prepared for educational and marketing purposes only. The information in this video is general in nature, does not constitute personalized investment advice, and does not provide a complete analysis of the subjects discussed. All investments involve risk, and different types of investments involve varying degrees of risk. There can be no assurance that any specific investment strategy will be profitable or suitable to you.
I'm just confused on why one wouldn't just open another account? Like I understand that the $1,000 deposit up front is nice, but other than that I'm not sure I see the benefit of this new savings program.
Additionally, although information presented in this video is believed to be factual and up-to-date, we do not guarantee its accuracy. You should consult an attorney or tax professional regarding your specific legal or tax situation and should consult a professional adviser before implementing any of the strategies mentioned in this video.
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THIS ADMINISTRATION IS NO GODD TO AMERICA!!!
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IT DOES NOT MATTER TRUMP IS A LIAR THEIF FUUL OF CRAP!!!!
More User Perspectives
I had a baby in 2025. So I was curious. I wanted to know about how it affected low income families? Only because I know that when we were low income as kids our parent's couldn't save anything. If they did they wouldn't receive benefits. They had to have the benefits because they didn't make enough to qualify for medical for my Dad's cancer...
So I wondered if this helped with not penalizing low income families. It would really help their kids. But as I read on it. It looks like it still does not. Unless you had a kid in 2025.
So you add after tax money now then it turns into a traditional IRA at 18 so that is taxed like ordinary income when you withdraw the money so the contribution and gains are taxed. Seems like a double tax???
@Natew321NOPE - Trump has proved DISHONEST across the board?! are you f’ing kidding me?! We want nothing from him - accept to read his obituary!
@PM-np8xmHell No! We want NOTHING from this felon - he poisons everything he touches. NOPE!
@PM-np8xmI would suppose that with the current tax rates, now, and the next few years, would be a good time to convert standard retirement holdings to Roth.
@stevelux9854Serious question did any of the negative comments actually listen to the video and comprehend the benefits of it? Regardless of the name, did you comprehend the benefits or potential benefits?
@MichaelDillinIt’s weird how grown men in 2025 talk about this like they don’t understand it’s just another scam. Like, you know it’s not real…right? Creepy billionaires being altruistic…and don’t want anything in return? Right…lol
@Doraemon_PilledCompounding and Time!
@dunemeGreat way to subsidize Wall Street while cutting everything for average Americans. Anyone realize this is just a handout to the wealthy since the money goes straight to selected company stock purchases. The baby doesn't really get anything but a piece of paper (or an mail) commemorating $1,000 being contributed to a rich person.
@datmeme8967real life Twilight Zone
@DecolonialAccountantSo you contribute after tax dollars and also pay taxes when you withdraw?
@nealartWho are the investment bankers that would be associated with these accounts? Are they getting a massive influx of capital or is it open to whomever the individual wants to manage the account? Self managed? There are a lot of children born before Jan. 1 2025 and why would it stop on Jan. 1 2028? Why wouldn't children born before then at least be able to have an account that is funded privately?
@vincentsevier983Can I open Trump account for my grandchild born 2024 with my own money $1,000?
@supaphanwiget535Is trump doing something for the American people well holy sheep shit im dumb founded so what's the catch? there's always a catch 22 with trump !!!!!
@mikeeye2146This brings out the TDS, even though it benefits children of any income level. For example, the Urban Institute criticized the program as more beneficial to wealthy families, who would be able to contribute more to the accounts over time, ignoring the fact wealthy families are more likely to contribute to a 529 or other financial vehicle for their children and not really make use of the Trump Account. I suspect many of the detractors don't like the idea of the parents not being able to put their hands on it.
@FillingPassportsawful name ``trump`` in it ...says to many =stay away .......he been a poor business man ..fact --
@john-js7dbWould it be possible to roll over the entire balance of the Trump Account into a traditional IRA when the child is 18?
@Scooterp82