‘Trump Accounts’ for Kids Get a Boost. What to Know: QuickTake

A new savings vehicle, dubbed “Trump accounts,” is designed to help the rising generation of American children build wealth into adulthood.

Under the multitrillion-dollar tax and spending bill signed by President Donald Trump in July, the federal government will contribute $1,000 to accounts set up for every American baby born in the next few years.

The initiative got a boost on Dec. 2 when billionaires Michael and Susan Dell announced a $6.25 billion gift to seed accounts for millions of older children as well. Other big names in business and finance, including Bridgewater Associates founder Ray Dalio and ...