Reported 3 days ago
The U.S. House has approved a new program, nicknamed 'Trump accounts,' which will provide $1,000 tax-advantaged investment accounts for every newborn between 2025 and 2028. While the initiative aims to promote early saving and investment among children, financial experts warn that the benefits paled in comparison to existing savings options like 529 accounts. Critics argued that the complexity of the rules may make the accounts less beneficial for families, and suggested that they could complicate rather than simplify financial planning.
Source: YAHOO