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Story summary
- U.S. President Donald Trump announced 7 million Trump Accounts opened, each giving a $1,000 seed to newborns.
- Ramsey expert George Kamel warned the accounts’ tax benefits are limited versus 529 plans or custodial Roth IRAs.
- He projected the account could reach $5,800 by age 18 and $5 million by age 65, and urged families to clear debt and invest 15% of income in retirement before funding the accounts.
