New Trump accounts $1M by age 55 with $1K at birth match and $50 / month

Which will have the buying power of $100k now thanks to the government printing money like a drunken whore.

How does 600 dollars a year (12 times 50) work out to one million in that amount of time?

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Which will have the buying power of $100k now thanks to the government printing money like a drunken whore.

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True, but you can only take actions on things you can control. Saving money is the thing you can do. It will make a decent nest egg if you add to it and let it grow. One thing I'd like to see is that the child can't touch it til he/she is 18 or 21. Hopefully, the parents won't raid it if they have a drug habit.

Compounding interest.

Over 55 years, you would personally contribute:

* Initial investment: $2,000
* Weekly contributions: $10 × 52 × 55 = $28,600
* Total contributed: $30,600

Depending on the investment return:

* 3%: ~$74k (about $43k in investment growth)
* 5%: ~$145k (about $114k in growth)
* 7%: ~$283k (about $252k in growth)
* 9%: ~$569k (about $538k in growth)
* 11%: ~$1.16M (about $1.13M in growth)

Quick AI review. Not using this as accurate math, just an overview of how it’s possible over 55 years.

Dear Donald Trump,

Can we finish one or two things first, like a war in Iran and deporting millions of illegals and putting some people in prison for election fraud, without you getting distracted by your latest attempt to flirt with socialism?

Thanks,

An Actual Conservative

Try it on a compound interest calculator.

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If Biden proposed this, it would be socialism.

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It's socialism regardless of who proposes it.

We're giving more money to immigrants who spit out 10 kids each.

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New Trump accounts $1M by age 55 with $1K at birth match and $50 / month

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How long before the government tries to tax this or find a way to dip into it?

We love our big government social programs don’t we folks.