Do you have a child under 18? You can sign them up for a Trump Account. These 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.
Additionally, through the One Big Beautiful Bill 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.
Families can open accounts by checking a box on Form 4547 when filing taxes. The 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.
For Hoosier children, Brad Gerstner, CEO of Altimeter Capital, pledged to invest an additional $250 into Trump Accounts for all kids under 5 years old. Other companies have pledged to support Trump Accounts for their employees' children, including Indiana-based Steak n' Shake which is offering a $1,000 match for its employees' children who are born between 2025 and '28.
To learn more and get an account started for your child, visit TrumpAccounts.gov. Accounts are available this year, but contributions can't be made until after July 4, 2026.
This is a great way to start saving early and invest in the future of Hoosier children.
