July Monthly Message: Family Financial Planning
Families now have a new option to help save for a child's future.
Established under the One Big Beautiful Bill Act, Trump Accounts became available beginning July 4, 2026, for eligible U.S. citizens under the age of 18.
Key Benefits:
• Annual contribution limit of $5,000
• Potential $1,000 federal contribution for eligible children born between 2025 and 2028
• Employer contribution opportunities
• Low-cost investment options tied to major U.S. stock market indexes
• Ability to transition to a Traditional IRA or Roth IRA at age 18
Important Considerations:
Trump Accounts are designed primarily as retirement savings vehicles. Parents should also evaluate whether alternative savings strategies such as 529 plans, custodial accounts, or trusts may better align with goals related to education, wealth transfer, and financial flexibility.
Want to discuss the best savings strategy for your child? Contact us to schedule a conversation.
Learn more: TrumpAccountsGov ; TrumpAccountsAmeripriseFinancial