The Fourth of July marks the official launch of Trump Accounts, allowing parents to set up the new type of custodial individual retirement account for kids.
Any child with a Social Security number who’s under 18 by the end of the year when the account is created is eligible. And for children born between Jan. 1, 2025 and Dec. 31, 2028, who have a Social Security number and are U.S. citizens, the Treasury Department will kick start their Trump accounts with $1,000.
