A new federally created savings account for American children launched on July 4, 2026, when Trump Accounts began accepting contributions. The accounts were formally established under Section 530A of the Internal Revenue Code as part of the One Big Beautiful Bill Act.
As financial professionals, we spend much of our time helping our clients prepare for retirement. By the time most of our clients are within a few years of retirement, their savings are there, their investment accounts are in order, and their income strategy is in place.
Graduation season is one of the most emotionally charged times of the year for families. But beneath the caps, gowns, and celebrations, something happens financially that often goes unexamined: for parents who have been paying college tuition, a recurring expense is about to disappear.
Social Security decisions are often framed as a single question: “When should I start drawing benefits?” That question matters, but it can also be limiting.
If you are a parent of a teen or young adult, how do you teach them to make confident money decisions before the stakes are high?
How can parents or grandparents help with a down payment for adult children? What are ways to gift a down payment, and how do the annual gift tax exclusion and lifetime estate exemption work?