Starting this July, every time you think about your child’s financial future, you may also think about the president.
The Trump administration is offering “Trump Accounts,” with $1,000 seed funding to U.S. citizens born between Jan. 1, 2025, and Dec. 31, 2028. Joel Dickson, Vanguard’s global head of advised strategies, told Fortune he welcomes this change—but if a family’s goal is saving for education, a tax-deferred 529 college savings plan is a more efficient option for the same amount of contribution.
