Trump account
Aside from the name of it and who it’s from, financially what do you think of the trump account? I have two one year old grand daughters. $1000 is $1000 no matter who it’s from. Are there many downsides to this account
Terry Says
The only downside would be if the stock market crashed — permanently! And that’s very unlikely. Did you read my recent column? https://www.terrysavage.com/trump-accounts/
If your child or grandchild qualifies for the free $1,000, based on birthdate, then do open the account. You can add up to $5,000 a year. And if you want to save more, then definitely use a 529 plan.
