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-0.00167487684729066 -0.000492610837438396 -0.00019704433497533 0 0.000985221674876931 0.0121783251231528 0.0167950738916256 0.0121182266009853
Stock impact report

Big US banks back 'Trump accounts' and bet on babies as the next investor class [Wealth Professional (Canada)]

Robinhood Markets, Inc. - Class A (HOOD) 
A US$1,000 government deposit at birth could grow into a six-figure nest egg for American children — and Wall Street is lining up to help make it happen. According to Reuters , US President Donald Trump's administration is launching “Trump Accounts” for children born between 2025 and 2028, each seeded with US$1,000 from the US Treasury and invested in low-cost index funds on a tax-deferred basis. The accounts go live on July 4 and convert into a traditional IRA at age 18, with income tax due on withdrawal. Family, friends and employers can contribute up to US$5,000 a year per account, with the employer portion expected to be capped at US$2,500. The administration estimates the untouched US$1,000 could reach about US$5,800 by age 18, while maxing out contributions could push the balance to almost US$1.1m by age 28 Financial analysts quoted by Reuters , however, see a more conservative outcome of around US$700,000 by 28 under the same assumptions. Large US financial institu Show less Read more
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