Investing General Discussion

OU Ariakas said:

Gents, I keep seeing things about these new Trump Accounts, i.e. Custodial IRAs for kids. Is there any reason to do the Trump one over just one at Vanguard? Has anyone else set up an IRA for their kids anyways?

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The way I understand it, is basically it’s just an IRA for your kids. Money can’t be withdrawn until they’re 18, but then from 18 until retirement age you still have the withdrawal penalty. The only thing that’s different about it is that if your kid is born between 2025 and 2028. The government will add $1000 as an initial deposit.