“Trump accounts,” which were created under the administration's Big Beautiful Act, are a new type of individual retirement account that will be given to all American babies with $1,000 in it. The logistical details of exactly how infants (and their parents) will receive these accounts are fuzzy, but the IRS has stated that anyone with a social security number who is born between the beginning of 2025 and the end of 2028 will be eligible for the seed funding, regardless of their parents’ income level. When The Cut’s personal-finance columnist charlottecowles asked new and soon-to-be parents if they planned to open a Trump account for their babies, the general consensus was “sure, but I don’t feel great about it.” Many hadn’t even heard of the program. For the latest edition of #MyTwoCents, Cowles outlines what a Trump account is, and speaks with financial experts about whether or not it’s worth opening one. Read more at the link in bio.