Trump Accounts Just Went Live and Your Baby Is Owed $1,000

What’s said in this shiur

The opening of this shiur, in Rabbi Yitzchak Breitowitz’s own words — taken from the captions, so names and Hebrew terms may be approximate.

The United States government just started handing out $1,000 to babies. Yes, babies. We're not talking a tax credit. It's not a deduction. A,000 actual dollars deposited into an investment account with your child's name on it. If your child was born in 2025 or is born anytime through the end of 2028, if you had a baby last year, Mazletov, there's $1,000 waiting for you. If you had twins, 2,000. And if you. If you had twins, 2,000. And if you're a family that, thank God, expects a few more kids before the end of 2028, you could be looking at 34 $5,000 in free money before this program winds down. They're called Trump accounts. They've officially went live this past Saturday, July 4th. Happy birthday, America. Which means this past Saturday night was the first chance most of us had to even look at this. It's a new program. Thank you, Mr. Donald Trump. More than six million accounts have More than six million accounts have already been opened, though only a fraction of those kids, roughly a million and a half, qualify for the $1,000 seed. And today, I'm going to walk you through everything. what these accounts actually are, how to get the money, what the fine print says, and because this is kosher money, and we don't want to hype you up too much, I'm also going to tell you where these accounts fall short, when you should not put your money in, and the one mistake that could turn your kid's nest egg into a big, big tax headache. A couple of

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1. 0:00The United States government just started handing out $1,000 to babies. Yes, babies. We're not talking…
2. 2:31retirement. The official name in the tax code is, write this down, no, not really, 530A…
3. 5:05December 31st, 2028 gets a onetime $1,000 deposit from the Treasury Department. You got to sign…
4. 7:37They've all announced they're matching the government's $1,000 in free money for their employees kids. Ray…
5. 10:10simulation for CNBC, modeling real markets, real families, and real behavior. These are their numbers. That…
6. 14:18savings. Okay. Catch number two, the early withdrawal penalty. D. Remember, at 18, this becomes a…
7. 16:50for college, that's one more reason to be thoughtful before you pile money in. I mean,…
8. 19:27into the 529. Okay, you heard me mention that one of the penalty-free uses for this…
9. 23:29those who like to think a few moves ahead. Tax attorneys are calling these accounts a…
10. 26:04a lot of that education has to come when they're six, seven, eight, six, seven, eight,…

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