Here's how the $1,000 'Trump Accounts' for newborns will work

Breakdown

• Every child born between 2025 and 2028 will receive $1,000 in a tax-deferred index fund account.
• Parents can contribute up to $5,000 per year, with up to $2,500 matched by employers. 23s
• Eligibility requires U.S. citizenship and valid social security numbers for the child and at least one parent. 49s
• Funds can be accessed in stages: half at age 18, for specific uses at 25, and fully at 30; withdrawals are taxed. 1m 12s
• The government will open accounts if parents do not, but some program details remain undecided. 2m 17s