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Trump Accounts: Free $1K for Kids, Roth IRA at 18
Description
Trump Accounts: A New Savings Plan for Kids - Over six million children have signed up for these accounts, which deposit $1,000 into low-cost index funds upon turning 18. They convert to traditional IRAs with standard rules. Advisers are divided on its benefits, highlighting tax-free growth but questioning its superiority over other savings options. Grab the free $1,000 for babies born 2021-2028, but consider it part of a broader savings strategy.
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