My baby is 8 months old.
The day the Trump Accounts app launched, I downloaded it immediately.
Not because I agree with everything behind it. Because $1,000 in free money that compounds for 65 years is $1,000 in free money that compounds for 65 years. Politics do not change the math.
I went through the whole setup. I read the Treasury guidance. I talked to my CPA. And I realized most parents are completely confused about what this account actually is, what to do with it, and whether to put their own money in beyond the government seed.
This is the guide I wish existed when I started.
What it is
A Trump Account is a new tax-advantaged investment account for children created under the One Big Beautiful Bill Act signed July 4, 2025. Think of it as a cross between a traditional IRA and a 529 plan. Your child's money grows as they grow and they can access it after turning 18 for education, a home purchase, or to start a business.
The account is managed by BNY Mellon as financial agent and Robinhood as brokerage and trustee. The dedicated app launched May 28, 2026. The official launch and first federal contributions happen July 4, 2026.
The free $1,000
Children born between January 1, 2025 and December 31, 2028 receive a one-time $1,000 deposit directly from the US Treasury. No income requirements. No application fee. Accounts are free to open.
This is the most important part of this entire guide. Take the free money. There is no reason not to.
You may be eligible for even more
Beyond the government's $1,000, a growing list of major employers are matching contributions for their employees. If you work for any of these companies, check your benefits portal before July 4.
JPMorgan Chase, Bank of America, Wells Fargo, BlackRock, BNY Mellon, Robinhood, SoFi, Charles Schwab, Dell Technologies, Coinbase, Broadcom, Intel, IBM, Comcast, State Street, Chipotle, and Visa have all announced matching contributions of up to $1,000 for eligible employees.
That means some families could start with $3,000 before they contribute a single dollar of their own. The government's $1,000, plus your employer's $1,000, and the app is free to open. Check your benefits portal now.
Michael and Susan Dell also pledged $6.25 billion toward Trump Accounts for children born between 2014 and 2024 living in ZIP codes where the median household income is $150,000 or less. Those children receive $250 each. If your child is older than the 2028 eligibility window and you live in a qualifying ZIP code, check the Dell Foundation pledge details separately.
Who qualifies
Any US citizen under 18 with a valid Social Security number qualifies. If your child was not born between 2025 and 2028, they still qualify to open an account. They just do not receive the $1,000 government seed deposit. The tax-deferred growth benefit still applies.
Nearly 6 million families have already registered. Full eligibility details are at trumpaccounts.gov.
How to open one
Download the Trump Accounts app from any major app store. It is live now. You can also go directly to trumpaccounts.gov. Complete Form 4547. You will need your information and your child's Social Security number. You will be asked whether you want to receive the $1,000 seed deposit if your child qualifies.
Say yes.
Account activation is rolling out in phases by email ahead of the July 4 official launch. More details at the IRS Trump Accounts page.
How much to contribute beyond the $1,000
Parents, family members, and friends can contribute up to $5,000 per year. The government's $1,000 seed deposit does not count toward that limit.
Here is the honest answer on whether to put in your own money: talk to your CPA first.
Trump Accounts grow tax-deferred, meaning you pay taxes on withdrawals as ordinary income. A custodial Roth IRA grows completely tax-free. If your child has earned income, a Roth IRA may offer better long-term tax advantages for your additional contributions beyond the government seed.
Both accounts can coexist. The free $1,000 goes in the Trump Account. Your own additional dollars deserve a real conversation about which vehicle is right for your family.
How it compares to your other options
529 plan: More flexible investment options, better for education specifically, growth is tax-free for qualified education expenses.
Custodial Roth IRA: Requires your child to have earned income. Grows completely tax-free. No mandatory withdrawal age. The most powerful long-term wealth-building tool available for a child with earned income.
Trump Account: Tax-deferred growth, restricted to US stock index funds, withdrawals taxed as ordinary income. The $1,000 government seed makes it a no-brainer to open regardless.
The short version: open the Trump Account, take the free money, then talk to your CPA about where your own additional contributions go.
What is in the app right now
The Trump Accounts app includes 8 financial literacy modules available immediately, before accounts officially launch July 4. Free. Accessible to anyone who downloads the app today. Worth going through while you wait.
Watch out for scams
Official Trump Account communications come only from [email protected]. The Treasury is not calling or texting anyone. If you receive a phone call or text message about your child's Trump Account, it is a scam. Only access the account through TrumpAccounts.gov or the official app.
The bottom line
The $1,000 is free money. Open the account, claim the deposit, download the app. That decision takes 20 minutes and costs nothing.
What you contribute beyond that is a conversation for you and your CPA. A custodial Roth IRA may work harder for your additional dollars depending on your situation and your tax bracket.
The families who will look back on July 4, 2026 as a turning point are the ones who took the free money and built a strategy around it.
See you Wednesday with the next edition of Billion Dollar Energy.
Jenny
P.S. If this helped, forward it to every parent you know. Most of them have no idea the app is already live.