{"id":3340,"date":"2026-07-06T19:08:29","date_gmt":"2026-07-06T19:08:29","guid":{"rendered":"https:\/\/americanmovershub.com\/?p=3340"},"modified":"2026-07-06T19:08:29","modified_gmt":"2026-07-06T19:08:29","slug":"better-than-social-security-or-political-stunt-what-dave-ramsey-and-others-are-saying-about-trump-accounts","status":"publish","type":"post","link":"https:\/\/americanmovershub.com\/?p=3340","title":{"rendered":"\u2018Better than Social Security\u2019 or \u2018political stunt\u2019? What Dave Ramsey and others are saying about Trump Accounts"},"content":{"rendered":"
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As deals go, this one seems pretty good: $1,000 free from the federal government for babies whose parents sign them up for a \u201cTrump Account,\u201d the public-private investment accounts that went live on July 4.<\/p>\n

Read more Silver linings: Finding contentment in everyday life<\/a><\/p>\n

Kevin O\u2019Leary has called the accounts \u201cbetter than Social Security,\u201d the White House calls them a step toward \u201cbuilding generational wealth\u201d and more than 6 million accounts for children under the age of 18 have already been created, according to the Treasury Department.<\/p>\n

And President Donald Trump rang the opening bell of the New York Stock Exchange from the Oval Office on Monday to celebrate the launch of the accounts.<\/p>\n

But not everyone is as enthusiastic. Talk-show host Dave Ramsey has called them a \u201cpolitical stunt\u201d even though he still says parents should sign up. <\/p>\n

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Delivering generational wealth, one account at a time! \ud83d\udcb0<\/p>\n

Over 5 million families have already opened a Trump Account this tax season. Sign up for yours TODAY \u27a1\ufe0f https:\/\/t.co\/iZOqExKN6o \ud83c\uddfa\ud83c\uddf8 pic.twitter.com\/3KmSAfAFel<\/p>\n

\u2014 The White House (@WhiteHouse) April 16, 2026<\/p><\/blockquote>\n<\/div>\n<\/div>\n<\/div>\n

Per The Washington Post, the accounts \u201care open to anyone under the age of 18 with a Social Security number and function like traditional IRAs, allowing investments in index funds.\u201d<\/p>\n

Only children born between Jan. 1, 2025, and Dec. 31, 2028, are eligible for the $1,000 seed money, which the Treasury Department says could grow to $6,000 by the time the child turns 18, even without any additional deposits.<\/p>\n

Accounts that have deposits of $250 a year could be worth $19,000 by then, and those that have the maximum yearly deposit of $5,000 could be worth more than $300,000, the Treasury Department says. (\u201cActual results may differ and are not guaranteed,\u201d the fine print on the Trumpaccounts.gov website says.)<\/p>\n

Relatives, friends and even employers can make a contribution to the accounts. The child will have access to the funds the year they turn 18 for qualified expenses like college tuition or the purchase of a house.<\/p>\n

The accounts are funded in part by more than 80 corporations who have pledged support, according to Treasury Secretary Scott Bessent, in addition to the more than $6.25 billion given by Michael and Susan Dell.<\/p>\n

On social media, parents who registered their children for the accounts over the weekend were enthusiastic about the program, which also had support from Democratic Sen. John Fetterman of Pennsylvania, who plans to open accounts for his three children.<\/p>\n

Read more What to know about Trump\u2019s call with FIFA over Team USA\u2019s red card<\/a><\/p>\n

Some other Democrats have rather grudgingly acknowledged their value while wishing that they weren\u2019t so overtly linked to a polarizing president.<\/p>\n

\u201cI wouldn\u2019t leave free money on the table, I think that\u2019s the bottom line,\u201d Michael Pieciak, the Democratic treasurer of Vermont, said in an interview a few weeks ago.<\/p>\n

Dave Ramsey, who met with Trump during the 2024 campaign and went on to endorse him, has called Trump Accounts more of a \u201cpolitical stunt\u201d more than a tool to build wealth.<\/p>\n

\u201cI\u2019m a fan of some of the things the president is doing. I\u2019m not a fan of some of the things the president is doing. I think this is a political stunt,\u201d Ramsey said in February.<\/p>\n

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In its analysis of the accounts, the Ramsey Solutions website says, \u201cSure, if you have a baby born between 2025 and 2028, there\u2019s nothing wrong with opening a Trump Account for them. A thousand bucks is a thousand bucks. We\u2019re not going to say no when Uncle Sam goes full Oprah Winfrey and starts giving out money.\u201d<\/p>\n

But, the article cautions, \u201cWhen you make contributions to a Trump Account, you\u2019re basically trapping money inside an inflexible, unusable account. You and your children won\u2019t be able to use that money for at least <\/i>18 years. And when your kids are <\/i>able to take the money out, they\u2019ll have to pay taxes on any investment growth from the account.”<\/p>\n

Ramsey Solutions also notes that the government controls where the funds are invested, and that account holders will have to pay a penalty if they want to withdraw the money for unauthorized uses.<\/p>\n

Ramsey\u2019s company says that better options include the college-saving 529 and ESA plans, and a custodial Roth IRA.<\/p>\n

But like the treasurer of Vermont, Ramsey Solutions says don\u2019t leave free money on the table. \u201cThat\u2019s a no brainer,\u201d the Ramsey Solutions website says.<\/p>\n

Read more Silver linings: Is etiquette old-fashioned or still relevant today?<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Trump Accounts: a way to build generational wealth or a political stunt? Either way, don’t walk away from free money, analysts are saying.<\/p>\n","protected":false},"author":1,"featured_media":3339,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-3340","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-politics"],"yoast_head":"\n\u2018Better than Social Security\u2019 or \u2018political stunt\u2019? 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