Trump Accounts are now available for kids. Here’s where the money will be invested in the stock market—in line with Warren Buffett’s advice

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.

For those who don’t qualify for the $1,000, other contributions can come from a range of sources. Parents, relatives and friends can give up to $5,000 annually in after-tax dollars for years before the year the child turns 18. Employers that choose to participate could contribute up to $2,500.

Companies, nonprofits, the wealthy as well as state and local governments can chip in as well. In December, tech billionaire Michael Dell and his wife, Susan, announced plans to donate $6.25 billion, translating to $250 to 25 million children.

The Treasury Department announced Thursday that Trump Accounts can accept donations of public stock, saying it will help philanthropists contribute. Any such gifts would be given to the Treasury, which would transfer them “consistent with the donor’s instructions, applicable law, and Treasury guidance,” Read Entire Article