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re: Trump Accounts & Funding Children’s Retirement
Posted on 2/15/26 at 1:04 pm to Tifway419
Posted on 2/15/26 at 1:04 pm to Tifway419
[quote]is would likely be a multi year process, but in the end would have converted the entire $100k (60k investment and $40k gains) to the Roth. That $100k Roth IRA balance at 18-20 would turn into $8-9Mil at 65.[/
Seems like you’re just locking up capital until your kids are retired. Most people would be better off investing in taxable brokerage accounts and letting their kids inherit the step up basis. All the while having access to the capital without penalty if needed. Both depend on future tax laws.
The trump accounts may provide some benefit if transactions and dividends are non taxable.
Seems like you’re just locking up capital until your kids are retired. Most people would be better off investing in taxable brokerage accounts and letting their kids inherit the step up basis. All the while having access to the capital without penalty if needed. Both depend on future tax laws.
The trump accounts may provide some benefit if transactions and dividends are non taxable.
0
Posted on 2/16/26 at 2:58 pm to Motownsix
quote:
Not sure why the answer is that everything needs to be taught in schools.
Given school is to make productive citizens, and given money rules the world…
Allocating some formal education on budget, credit, investment, risk, etc sure seems like a good match.
I love iambic pentameter as much as next productive citizen, but really?
Posted on 2/16/26 at 3:20 pm to Tifway419
quote:
with just a $60k investment by me/wife now.
Not pretentious much, lol
Posted on 2/18/26 at 8:08 pm to TigerFanatic99
Fundamentally I would never put investment funds into an account called a Trump account.
Posted on 2/18/26 at 10:27 pm to Motownsix
quote:It is ludicrous that there is no financial classes taught in school. There are so many outdated and irrelevant things that are taught simply because they always have been, but something as important and part of everyday life is ignored. You would think that in the 4 years of high school, some amount of time could be allocated to teach kids the basics as they prepare for life as adults. While I have taught my children, I amazed at some at how many college level students have no clue about financial issues.
Not sure why the answer is that everything needs to be taught in schools.
Posted on 2/18/26 at 10:51 pm to WITNESS23
quote:
Yea, I just wonder how kids will act if you tell them they will have 9 million dollars when they get to retirement age.
They still have to make it to “retirement age” to be able to access penalty free. It’s not like you’re telling your kid they are getting access to a multimillion dollar trust fund upon graduation.
It also frees up your kid to pursue something they may be more interested in or passionate about even if it pays less (like being a teacher or something). Idk maybe you consider that a lack of drive for them to be content not making the most money possible but it’s a certainly an advantage to being able to “pick your spots” in life.
Posted on 2/19/26 at 4:51 am to NOSHAU
quote:
You would think that in the 4 years of high school, some amount of time could be allocated to teach kids the basics as they prepare for life as adults.
Even my pitiful high school taught free enterprise, which included personal finance to an extent. We did budgeting exercises, but even as a child I saw ways to improve the class.
I asked AI: Do high schools still teach free enterprise or other financial course?
AI says: Yes, high schools still teach free enterprise, economics, and personal finance, with a significant surge in mandates requiring these courses for graduation. As of early 2024, 35 U.S. states require students to take a personal finance course, and over two-thirds of states mandate personal finance education. These courses cover topics like budgeting, credit, investing, and the free enterprise system.
In response to a LA specific inquiry: Yes, Louisiana high schools still teach financial courses, and as of the 2024-2025 school year, a one-unit financial literacy course is a graduation requirement. Passed via Act 267 (HB103) in 2023, this mandatory curriculum covers topics like checkbook management, bank accounts, credit, and taxes.
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