Dr. Friday discusses a program she describes as Trump Savings for children born during eligible years. She explains the reported $1,000 initial funding and possible annual parent contributions.
Transcript
G’day, I’m Dr. Friday, president of Dr. Friday’s Tax and Financial Firm. To get more info, go to www.drfriday.com. This is a one-minute moment.
This is for all new parents. Starting as of January 1, 2025, it’s called the Trump Savings.
For each child, he will put $1,000 into an account for children born during these years, and then a parent can put up to $5,000 a year into that account.
It will be a managed fund, and then at the age of 18 they will have access. It will be limited to IRS taxes, as far as an IRA kind of situation.
But hey, it’s a thousand free dollars and you can also put money aside. Why not put more money aside to help for college and other things? If you need help understanding tax law, drfriday.com.
You can catch the Dr. Friday Call-in Show live every Saturday afternoon from 2 to 3 p.m. right here on 99.7 WTN.