Comments now closed.
Just a quick headsup: The new ‘Trump Account’ is now available for signup at trumpaccounts.gov.
- Children born between Jan. 1, 2025, and Dec. 31, 2028, with a valid Social Security number are eligible for a $1,000 federal contribution.
- On a first-come-first-serve basis, there is an additional $250 contribution from the Dell family for children under 10 living in zip codes with a median income of $150,000 or less.
- There are some employers offering a match to the account as well.
At trumpaccounts.gov you can find Form 4547 to fill out and make you eligible. I believe that form will get you in queue for the Dell money as well.
Some other details:
- Parents or guardians can contribute up to $5,000 annually. Employer contributions up to $2,500 are allowed and are not considered taxable income for the employee.
- Note: many advise contributing to a 529 plan instead of this Trump Account. Meaning, just take the freebie contribution and put any additional money in a 529 instead. Please do your own research on the details of each account.
- The federal money is supposed to come in July. I’m not sure about the Dell money.
- You can search the median income in your area at this link. I checked a bunch of zip codes and it seems like almost everyone will be eligible.
There’s no specific rush to sign up today for the $1,000 federal money, but the Dell money could run out if you delay signing up.
Note, the Dell money is for eligible children age 10 and younger. That’s different than the $1,000 federal money which is for children born in 2025-2028.
I’d really prefer if people can keep the discussion on point, but we might have to close comments if it gets too politically crazy. We’re really just posting this so people don’t lose out on the bonus for their kids.
