"The idea is to give millions of children a head start on saving for the future,"
"And we know that when children have accounts like this, even with modest sums, they have better outcomes in life."
"mark their calendars for July 4, 2026, which is when they could claim the accounts for their children"
Michael and Susan Dell will donate $6.25 billion to fund investment accounts for 25 million U.S. children. The donation will place $250 into each eligible child's "Trump Account," intended to grow through investments in low-cost stock funds that track market indexes. Eligibility requires a Social Security number and age 10 or younger, born before Jan. 1, 2025, and residence in ZIP codes where the median income is under $150,000. The gift is expected to reach nearly 80% of children in the eligible age group across 75% of U.S. ZIP codes. Parents must create the "Trump Accounts" to receive the funds, with account claims beginning July 4, 2026. Separate federal law provides a $1,000 Treasury-funded account automatically for babies born from 2025 through 2028; older children do not receive that Treasury payment.
Read at www.npr.org
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