So far, about 7 million children have been signed up, Bessent said. That’s up from 6.5 million earlier this month. Although many more children are still eligible, the Treasury said early sign-ups have outpaced those for other digital platforms and products.
As young adults increasingly turn to “social media, online communities, and AI for financial advice,” Bessent said in the remarks, the newly launched investment accounts offer “one of the great real-time learning experiences in the history of the United States.”
Trump Accounts, which officially launched on July 4, will create “a new class of shareholders,” Bessent said Monday. “American families, left on the sidelines of Wall Street for too long, will finally understand what it feels like to have a piece of the action.”
Children born from 2025 through 2028 can receive a one-time $1,000 deposit from the Treasury Department as part of a pilot program designed to jump-start long-term savings.
Parents, guardians, grandparents and others can also contribute up to $5,000 per child per year. Those contributions will be invested in exchange-traded funds that track the performance of the S&P 500.
With the free money as a draw, Trump Accounts could potentially generate $80 billion to more than $900 billion in long-term asset accumulation for children across all income levels over the next decade, according to a recent analysis by consulting firm McKinsey. However, participation, contribution patterns and sustained engagement are key factors in those outcomes.
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