Trump Accounts will officially launch on July 4, with the administration touting their potential to build wealth for a generation of American children. Exclusive research conducted for CNBC by Morningstar found that White House estimates for wealth building may be optimistic:
So far, more than 6 million families have signed children up for Trump Accounts, which officially launch on July 4. The accounts, also known as 530A accounts, are open to any U.S. child with a Social Security number under the age of 18:
The accounts include a one-time $1,000 seed contribution from the U.S. Department of the Treasury for babies born from 2025 through 2028:
Morningstar's calculations show that long-term wealth accumulation is primarily driven by ongoing contributions from families and employers:
The Trump administration claims that these accounts can help American families build wealth:
