Trump rang the opening bell on Wall Street from the Oval Office to celebrate the launch of Trump Accounts | Today’s news
US President Donald Trump rang the opening bell for the New York Stock Exchange and Nasdaq from the Oval Office on Monday to mark the launch of Trump Accounts, a new investment program designed for America’s children.
Trump called the initiative a major step toward building long-term wealth and said the bills would grow along with what he described as a booming U.S. economy.
“With the opening bell for the stock market, these accounts will now begin to grow along with our booming economy, and I truly believe that right now we are going to experience the biggest boom of all,” Trump said during the event.
The president also announced that approximately $800 million will be invested this week through a combination of government seed funding and private contributions.
“You haven’t seen anything yet. Between individual contributions and seed funds, $800 million in new capital will be invested this week in the equity market for America’s children,” Trump said.
The launch of Trump Accounts is aimed at promoting long-term investing for children by enabling them to invest funds in the stock market from an early age. The administration says the program combines seed funding with voluntary private contributions to help families build wealth over time.
What are Trump accounts?
Trump Accounts, a government-backed, tax-advantaged savings program aimed at encouraging long-term investing and financial literacy among America’s children, went into effect on July 4 and provides a $1,000 government-funded investment account for every U.S. citizen born between 2025 and 2028 — the years spanning President Donald Trump’s second term. Families can also open accounts for children under 18 with a valid Social Security number, though only those born during the four-year period are eligible for the state benefit.
The program, created as part of the tax and spending package signed into law last summer, is being touted as a key part of the president’s economic legacy.
How Trump Accounts Work
Trump accounts are free to open and allow parents, relatives, employers and charities to contribute up to $5,000 per year on a pre-tax basis.
Contributions are automatically invested in a low-cost index fund designed for long-term growth. Account holders gain control of the funds when they reach 18, when they can withdraw the money or continue investing. Investment gains are taxed at withdrawal.
Long term growth potential
Based on the historical average returns of the S&P 500, a child receiving $5,000 in annual contributions could accumulate approximately $271,000 by age 18. If contributions continue at the same rate until age 55, the account could grow to about $13 million, although actual returns will depend on market performance.
Corporate support
The program has already received support from large companies and wealthy investors. US chipmaker Micron Technology has pledged $250 million to the initiative, while Trump has said he expects billionaire Elon Musk to contribute to SpaceX stock accounts.
