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1
Posted on 2/25/26 at 7:42 am to LemmyLives
quote:
You're a smart dude, and know that kids that are going to frick up their lives will find any vehicle to do it.
I don’t mean going on a coke bender. I mean an 18 year old all of a sudden needing to resist the temptation to use the money to make big ticket purchases, but as a down payment on bigger ticket purchases they can’t afford. There’s a reason small lottery winners have abnormally high rates of bankruptcy.
Posted on 2/25/26 at 7:52 am to Lurkalot
quote:
It’s about ~$11–$12 million more wealth if retired at age 67 (40+% higher). That gap widens further if you assume your kid makes annual contributions over the life of the converted Roth IRA.
And what is your kid going to do with $40MM when they retire that they couldn’t have done with $30MM?
And to narrow things further, what do things look like if I save $300k for them in a taxable account, then use that as seed money for tax sheltered retirement accounts in their name once they are an adult?
Or to go an entirely different route being we are talking about their being 67 and my being dead: why don’t I just invest the money in my own tax sheltered accounts/trusts and let them inherit it/obtain control later in life? What benefit does the Trump account provide over that?
Now, if Trump actually follows up on his “401k for all” rhetoric last night, offering an account with an annual $1k match absolutely becomes interesting. But that’s a different animal entirely.
This post was edited on 2/25/26 at 7:54 am
Posted on 2/25/26 at 7:52 am to bigjoe1
Great re the seed money. But if you don’t, what’s the benefit of a Trump account vs a regular Fidelity mutual fund for your child?
Posted on 2/25/26 at 8:09 am to bigjoe1
I don’t support this because only people on welfare are having kids and they get enough free shite already
Posted on 3/3/26 at 11:26 am to Neauxla_Tiger
There's no tax advantage. Let’s talk to the people who invested in trump university, Trump casino, Trump miss universe beauty pageants, contractors who worked for Trump and never got paid… if anything this money will be owned by the Trump family and one day they will just steal your money from your accounts because they can. The whole Trump family is demonic. You're delusional if you put anything in this ponzi Scheme!
Posted on 3/3/26 at 11:33 am to basiletiger
Please explain, in detail, how a Trump account is a Ponzi scheme.
Posted on 3/3/26 at 12:05 pm to NewIberiaHaircut
Let’s talk to the people who invested in trump university, Trump casino, Trump miss universe beauty pageants, contractors who worked for Trump and never got paid… if anything this money will be owned by the Trump family and one day they will just steal your money from your accounts because they can. The whole Trump family is demonic!!!!!
Instead of investing in broad public goods, you are encouraging families to gamble on market returns for their kids' future.
This is the epitome of ignorance.
Instead of investing in broad public goods, you are encouraging families to gamble on market returns for their kids' future.
This is the epitome of ignorance.
Posted on 3/3/26 at 2:35 pm to basiletiger
quote:
There's no tax advantage.
OK, that's fine. But that's not what you said in your original post. You said specifically because it had Trump's name on it, you wouldn't touch it. Which does not sound like a decision based in logic or reason, but rather an emotional decision. Which is dumb. So I asked if you would forego doing something in your kid's best interest purely out of your own personal vendetta against a man who has no idea, nor does he care, if you don't use this account? If you have a kid that is eligible for the seed money, you'd be legitimately retarded to pass up the free money just because ORANGE MAN BAD even if you don't want to contribute any additional funds yourself.
quote:
Let’s talk to the people who invested in trump university, Trump casino, Trump miss universe beauty pageants, contractors who worked for Trump and never got paid
Nowhere in your incoherent rambling did you make any valid point. None of this has anything to do with Trump accounts.
quote:
if anything this money will be owned by the Trump family and one day they will just steal your money from your accounts because they can. The whole Trump family is demonic. You're delusional if you put anything in this ponzi Scheme!
Posted on 3/3/26 at 3:26 pm to basiletiger
out your damn mind
Posted on 3/3/26 at 3:30 pm to Neauxla_Tiger
Look up in the dictionary what brainwashed means. It has everything to do with the Trump accounts, but please continue believing that Trump is looking out for the American people. Go join him in the tanning beds for all I care.
Posted on 3/3/26 at 9:41 pm to Lurkalot
quote:
The Roth (Trump account converted) grows the full amount with no taxes on dividends or gains
It's my understanding that you can only contribute up to the annual roth limit of $7,500, and it has to be from contributions to the original account.
So a majority of the $300k will not grow fully tax free but tax deferred.
Posted on 3/7/26 at 9:00 pm to KamaCausey_LSU
It’s $5,000 annually. Tax code still a little unclear longer term on how Roth conversions will be treated. $5K a year for 18 years is an unbelievable head start if possible to afford the contributions.
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