More than 140,000 Hoosier children are eligible to receive a $250 Trump Account investment thanks to a recent donation from the Brad Gerstner Family Foundation.
An Indiana native, Gerstner is the founder and CEO of Altimeter Capital and helped advance the Trump Accounts concept. These accounts are federally sponsored, child-focused investment accounts that function like custodial IRAs for long-term wealth building. Once a child turns 18, they can use the money for college, career readiness or even a down payment on a house.
Through the federal Working Families Tax Cut Act, American children born between Jan. 1, 2025, and Dec. 31, 2028, who enroll in Trump Accounts will receive $1,000 in index funds to kick start the investment. An additional $250 gift was provided by the Dell family for American children under 10 years old who live in zip codes where the median household income is below $150,000. The Gerstner Family Foundation pledged an additional $250 for all Indiana children under the age of 5. The Dell gift began to hit accounts at the end of August and the Gerstner gift began to hit accounts this week.
Trump Accounts are designed to grow over time, potentially reaching significant amounts by retirement age. You can contribute $5,000 annually to maximize growth, though no annual contribution is required. Unlike other types of IRAs, Trump accounts do not require individuals to have earned income or restrict contributions based on total income.
Over 9 million kids already have Trump Accounts and that number keeps growing. Learn more about the Gerstner Gift, Trump Accounts and how to sign up here.
