Joel O'Leary
speaker
227 appearances
1 recordings
1 series
first heard Jul 2026
last heard 11 Jul
Joel O'Leary’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 1 in all, peaking in Jul 2026 with 1.
Appearances
Sure.
The way I think about Trump accounts is they're basically an IRA, but for kids.
So like a retirement account, but for kids.
And you normally need earned income before you can contribute to a retirement account.
But in this case, parents, grandparents, friends, family, or even your employer or government organizations can contribute to a kid investment account.
That's basically what it is.
Just like you mentioned, they're brand new.
This was originally created as part of the one big, beautiful, wonderful, amazing bill act.
And they officially launched on July 4th.
So you can open an account, you can fund an account.
Like an IRA, it's got some rules.
So the maximum you can contribute is $5,000 per kid per year.
And the idea is that that money sits and grows tax-deferred until the kid turns 18.
and then it turns into a regular IRA.
You're basically kick-starting their retirement.
So, yeah, that's basically what the new Trump accounts are.
Well, we'll start with the headline feature, which is what I think everyone's anxious to know is, is there any free money out there for me?
And so with the launch of these accounts, the government is giving out $1,000 for each baby born that meets a certain criteria.
And free money doesn't come all that often in personal finance.
So if your kid is eligible, you want to jump on it.
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