Trump Accounts: Take the $1,000, Then Ask the Harder Question

The government will put $1,000 into an account for your newborn. That part is easy. The harder question is what, if anything, you put in after that. Trump Accounts launched on July 4, 2026, and they are the first account built specifically to start a child's retirement savings from birth. In this solo episode Tom Kaminski, CFP®, walks through what the account actually is, how to open one step by step, and then gives a planner's framework for deciding where it belongs on your family's priority list. Spoiler: it is usually not first. He also gets into what he likes about the program (a real mechanism for retirement savings outside Social Security, and 18 years of forced conversations about compounding) and what he does not (an 18-year lockout that is too short, commingled pre and post tax dollars that will make a mess of somebody's tax return in 2044, and a $1,000 headline that does not solve a systemic problem). The rules around these accounts are still being written. Check current IRS guidance before you act on anything here. Links and resources Trump Accounts at the IRS: https://www.irs.gov/trumpaccounts TrumpAccounts.gov, the official program site: https://trumpaccounts.gov Treasury on the Trump Accounts app and next steps: https://home.treasury.gov/news/press-releases/sb0508 Treasury on the investment lineup: https://home.treasury.gov/news/press-releases/sb0551 Proposed regulations, Trump Accounts (Federal Register): https://www.federalregister.gov/documents/2026/03/09/2026-04533/trump-accounts Proposed regulations, Contribution Pilot Program: https://www.federalregister.gov/documents/2026/03/09/2026-04534/trump-accounts-contribution-pilot-program Instructions for Form 4547: https://www.irs.gov/pub/irs-prior/i4547--2025.pdf 2026 Social Security Trustees Report highlights: https://www.ssa.gov/oact/TR/2026/II_A_highlights.html This episode is for informational purposes only and is not tax, legal, or investment advice. Please consult qualified professionals before making any financial decisions.