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I see it more as a shiny object for the masses to distract them from the massive stock manipulation that's been going on with the tariff swings and Taco.
Insider trading usually meant just trading behind the scenes on knowledge of what’s going on. Current admin seems to frequent make decisions/announcements to actively manipulate the market to further bump the trading.
I think the Trump accounts are a great idea. Millions of individuals will learn about savings and the magic of compounding interest.
Please look up Ponzi scheme. It’s not a Ponzi scheme. It may be a market pump, but we do that all the time. These are not great compared to other accounts like retirement plans and 529s, and their tax treatment isn’t great unless converted to Roth IRA later on. Also, like most of these schemes, they’ll provide most benefit to the wealthy. But not Ponzi scheme like Madoff or Charles Ponzi.
Crazy I had to scroll this far to find the actual answer
I’m weary of everything after the memecoin.
Mentor
I’m not sure that adding $1,000 to the market per child born between Jan 2025 and Dec 2028, is going to really move the needle… long term, the money cannot be removed from the account until the minor reaches the age of majority… so if anything it adds a degree of stability to that pool of assets… parents who have the financial capacity to put money away for their children will put money away… parents who do not have the capacity will continue to be unable to… regardless if it’s a ‘Trump Account’ or not…
Nothing really major… but people jump at the idea of free money, so this story is bigger than the actual impact… plus, this guy just likes to put his name on everything…
How does someone who works at KPMG not understand what a Ponzi scheme is?
Hate to break it to you, but our system has been a ponzi for a looong time.
It'll be interesting to understand how this factors into FAFSA financial aid calculations in ~18 years. If it's in the child's name and accessible, is it basically assumed to be 100% allocated towards educational costs anyway?
No they are actually a mechanism to enroll every American child with their own investment account. It’s like a trust fund that isn’t accessible until they turn 18. I think it’s one of their better ideas. Brian Gurley sponsored the idea.
Subject Expert
It's unclear what they are. I don't believe we have gotten any reliable details, including so far no real confirmation that anything will happen at all.
Subject Expert
Yeah, probably a good way for high income families to sock more into a tax advantaged status if they are maxing out everything else.
If a significant portion can be funded by one person (and especially since that person isn't named Elon, Larry, Jeff, Sergey, or Mark) then it is a drop in the bucket and would have no notable impact on the markets.
I haven't even looked into these yet. They seem like some sort of ponzi scheme to me if I am being honest.
Check out the recent prof G podcast on this
I left the fire movement because I realized it would mean my husband and I would be doubling down during our kids' earliest years, and then hit retirement when they were teens/college and didn't need us anymore. This to me is the exact opposite of a healthy family dynamic. I also watched some others go through this exact same thing.
Instead we used the principles of FIRE (frugality etc) and some passive income we had already built up to drop down to one income and spend significantly more time with our kids. We swapped back and forth who was the breadwinner and who "got" (sometimes it's really hard!) to stay home with the kids. At this point we are both self employed so that we can maintain the flexibility we want as a family.