06/01/2026
Just wanted to post a "Trump account" update as there seems to be a bunch of confusion relating to the eligibility/setup process. These are the accounts created as a part of the last tax bill passed in July 2025 and helped create an investment account for children under the age of 18. The government is funding $1,000 per child born 1/1/25-12/31/28, and the Dell Foundation is funding $250 per child under the age on 10 in zip codes with under the median household income of $150k (Pretty much every zip code I have tried in Tuscaloosa seems to qualify). Initially, we were told it would be as easy as going to https://trumpaccounts.gov/ and entering your kids information, however that did not seem to properly register everyone. The government is now pushing everyone to login/create an ID.ME account from the same website and enter your children's information from there. Not the easiest account setup page to use (welcome to what us CPAs deal with every week 😔 ). This should allow you to receive email updates about the account, as the funding SHOULD take place in early July.
If you have made it this far, here is my opinion on these accounts;
Should you take the "free" $1,000 or $250? YES! By all means, take advantage of this and use it as an example to learn and teach your kids about their financial future.
Is it a better/more tax efficient than a 529 Plan (i.e. should I continue to fund my "Trump Account" instead of a 529?) No, 529 plans are by no means perfect, but offer a more tax efficient growth strategy. If you had a bunch of excess funds, it may make sense to contribute additional funds to this Plan, but not before properly funding other investment options.
“Disclaimer: The information provided is NOT financial advice.
This information is purely from my own due diligence and an expression of my thoughts, my opinions based on my personal experiences, and the way I transact."
Trump Accounts provide eligible American children with tax-advantaged investment accounts courtesy of President Donald J. Trump.
