On Saturday, President Donald Trump's administration plans to launch Trump Accounts, tying the 250th anniversary of the signing of the Declaration of Independence to an effort to boost financial independence for American kids.
Under the program, parents can open special investment accounts for any child born during Trump's second term and automatically receive $1,000 from the government. Accounts can be opened for older children - as long as they don't turn 18 before the end of the calendar year - but they will not receive the $1,000. The accounts are set to open for deposits July 4, which is also the day the Treasury Department plans to transfer the $1,000 bonus.
