A new government investment account is making headlines.Some people are calling it one of the biggest opportunities ever offered to parents. Others think it's being oversold.So what's actually true?In this episode, we break down the new Trump Account from top to bottom. Who qualifies, how the $1,000 government contribution works, whether it's really "free money," the tax implications, the downsides almost nobody is talking about, and whether this should be your first choice over a 529 plan or Roth IRA -...
A new government investment account is making headlines.
Some people are calling it one of the biggest opportunities ever offered to parents. Others think it's being oversold.
So what's actually true?
In this episode, we break down the new Trump Account from top to bottom. Who qualifies, how the $1,000 government contribution works, whether it's really "free money," the tax implications, the downsides almost nobody is talking about, and whether this should be your first choice over a 529 plan or Roth IRA - don't worry I explain what those are.
If you have children, grandchildren, or hope to one day, this is an episode you'll want to understand before making any decisions.
Listen closely and enjoy.
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This episode is for educational purposes only and should not be considered tax, legal, or investment advice. Everyone’s financial situation is different. Before making financial decisions, consult a qualified financial, tax, or legal professional.
Kosher Money is the bi-weekly podcast from Living Lchaim, hosted by Eli Langer.
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