In the United States of America, the Federal government has provided a way for We the People, at least for 21% of the population — those between birth and 17 years — to become multimillionaires. Those individuals have gained a substantial financial advantage because the federal government allows them to start a savings account at birth1, thereby maximizing their time to save and compounding interest to build wealth for when they exit the rat race.
A provision of The One Big Beautiful Bill introduces a brand-new tax-advantaged savings account, dubbed the Trump Account. Parents with newborn children through 17 years old must investigate this account for full details and set it up for each of their children. ‘Trump Accounts’ Could Be Better. Here’s How. is a recommended article for a starting point and can be found at https://taxfoundation.org/blog/trump-accounts-could-be-better/.
A financial opportunity is knocking for your children to become multimillionaires. The opportunity is to save money with compounding interest over a longer period of time, which will create more wealth. The longer period is a wealth-building opportunity that parents can take advantage of for their children. And others can contribute to the account also.
In addition, “Children born in 2025 through 2028 (born as US citizens with Social Security numbers) will be automatically enrolled and receive a one-time deposit of $1,000 from the federal government into their account. This one-time deposit must be claimed through a bank or other qualified financial institution.”2
With monthly deposits that equal the full annual limited amount of deposits, and without withdrawals from the account until the holder exits the rat race, the projected savings scenario is
$5,000 per year, divided by 12 months, equals $416 per month per child.
$416 per month x 65 years (780 months) at 5% monthly interest = $2,457,740.
You say, “$416 is a lot. Where am I going to get 416 dollars? And for each of my children?”
The proper money mindset says, “This is such a great opportunity. As a parent, I must find a way to contribute monthly for each of my children. I must start compounding money for my children as early as possible and then educate my children on the importance of them to continue making deposits beginning with a percentage of every cash gift they receive, allowance they earn, and continuing with their earnings.”
Based on the proper money mindset that found $20 a month to deposit as a start, the projected savings scenario is
$20 for 65 years -780 months, at 5% monthly interest is $118,160.
This is just one account. How would either of the project savings scenarios for this one account add to your children’s portfolio?
The Federal government has finally given We the People a little control over our money and financial destiny. This is a means to save money and have it accrue with compounding interest over a longer period of time than other government-permitted savings accounts. It has the potential to create millionaires or multimillionaires. The account holder will still have to sacrifice immediate gratification and be committed to doing the associated work to achieve the financial success they set for themselves. Or, in this case, the level that the government allows citizens to achieve. And since the Federal government is allowing citizens to do this with their money, there are rules. Government rules and policies are often complex.
If this seems odd to you or you do not understand the need for your children to develop their money management habits early and save for an extended period of time, please sign up for financial literacy training with THE THOMAS SLATCOFF FINANCIAL LITERACY INSTITUTE. We offer financial literacy training to help you gain, enhance, or refine your money management skills, enabling you to plan and manage your finances successfully, avoid financial woes, and prosper.
If you are ready to commit to gaining, enhancing, or refining your financial literacy, handling your finances in a unique manner contrary to the myths and misconceptions promoted to the public, or you want financial freedom, please go to SLATCOFF.com, call or text 1.850.867.2817, email contact@SLATCOFF.com for more information.
Thomas Slatcoff Blog 
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