Opinion

America’s retirement system is broken. Trump may have found a bold fix

Our retirement system was built for an economy that barely exists anymore

By Ted Jenkin Fox News

Published July 13, 2026 5:00am EDT

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Trump accounts are a 'worthwhile investment for all Americans': Charles Payne

President Donald Trump, from the Oval Office, rings the NYSE and NASDAQ opening bells to launch tax-deferred 'Trump Accounts' for newborns. Fox Business host Charles Payne champions the initiative, stating it fosters entrepreneurial spirit and broadens stock market participation among Americans. This initiative aims to increase the small percentage of Americans with investment accounts.

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When President Donald Trump told reporters on last week that he was looking "very strongly" at Australia's retirement system, most Americans probably shrugged and thought, "Great — another retirement plan."

They shouldn't.

If this idea becomes legislation, it could represent the biggest shift in American retirement policy since Social Security was signed into law in 1935. Don’t be surprised if the Trump name is on the retirement account if it happens.

TRUMP LOOKING 'VERY STRONGLY' AT AUSTRALIA-STYLE RETIREMENT SYSTEM: 'TAKING THAT, MAKING IT SHARPER'

The important thing to understand is this main point: Trump isn't talking about copying Australia. He's talking about taking what works and making it "sharper" for America.

So what exactly is he trying to accomplish?

America has a retirement problem

Our retirement system was built for an economy that barely exists anymore.

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People used to work for one employer for 30 years, receive a pension, collect Social Security, and retire. Social Security was built for people to claim it at 65 and live to about 70. That’s gone. People are........

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