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Trump Accounts: Free $1K or Wealth Trap | Durham News
A new government program called Trump Accounts is rolling out with a $1,000 seed deposit for eligible kids starting July 4th—millions are already signed up. Designed as a tax-advantaged investment account for minors, it channels funds into low-cost index funds, locked until age 18, then treated like a regular IRA. While personal finance experts like Dave Ramsey call it more political than practical—highlighting lock-up periods, limited choices, and unfavorable tax treatment—his own team still urges families to grab the free $1,000. The debate centers on whether to add more money beyond the…
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