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Subscribe to our free daily WealthManagement newsletters. – Whether you admire him or cringe at the mention of his name, US President Donald Trump has long had a penchant for putting his name on things
Once it was condos, steaks and Bibles. More recently, it’s been Trump Gold Cards, Trump IRAs (coming next year) and, as of this month, Trump Accounts. The newest addition is a government-funded savings program that gives eligible newborn Americans $1,000 to begin building wealth from birth.
Parents and other eligible contributors can give up to $5,000 a year, making the program one of the most ambitious efforts yet to bring more Americans into the stock market. Bloomberg Money spoke with Eric Balchunas, Bloomberg Intelligence’s senior ETF analyst, about what parents should know — and why one little-known ETF emerged as the biggest winner. ETFs figure prominently in the investment offerings for Trump Accounts.