Trump Accounts
Hi Terry, first let me tell you thanks for all you have done to help us with finances. You are truly a gem!
Question: are Trump Accounts a good investment for grandkids?
Or, is there something better?
Thanks!
Terry Says
Trump accounts won’t officially “happen” until July 5th this year, although you can find out more here: https://trumpaccounts.gov/
But they are limited in the amount you can give.
If you’re planning for your grandchildren to attend college, I much prefer 529 College Savings Accounts. REad more here: https://www.terrysavage.com/the-gift-of-college-529-plans/ But that money can only be used, without penalty, for college expenses.
I haven’t heard that you can’t have BOTH. So that might be the best idea of all!
