Chris Cooper / Serenity Wealth Management
LIVE In-studio
Trump accounts went live on the nation's 250th birthday.
I wrote a piece on what they are, the facts, the values, etc.

A new savings account for children was born on July 4th. You've probably seen the headlines. But the headlines are missing some important details.

Strip away the noise and what do you have? A traditional IRA for a minor. Funded via irrevocable gifts. Owned completely by the child at 18. No restrictions. No take-backs.

For children born 2025 through 2028 the federal government will make a one-time $1,000 contribution directly to the account. No income requirement. Four minutes of paperwork. That part is straightforward.

Beyond the free money the conversation gets more interesting. Because what this account actually becomes at 18 is worth understanding before anyone writes a check.

With great power comes great responsibility. Most 18-year-olds are not short on power, but they may not have the experience of responsibility.

We put together a breakdown of what these accounts really are. How they compare to other available options. And what families should think about before contributing.