5 things to know as launch day approaches for Trump accounts

(NEXSTAR) — The Trump administration is gearing up to launch its highly-touted “Trump accounts,” savings accounts for children that are similar to retirement accounts, with the launch of an associated app on Thursday.

If you’re among the nearly 6 million families who have signed up for Trump accounts, the U.S. Treasury Department says you can expect to receive emails with instructions on how to set up your account. These will be sent out in phases until the official launch date of July 4.

Ahead of the formal launch, here are five things to know about Trump accounts.

What are Trump accounts?

Established under the One Big Beautiful Bill Act, Trump accounts aren’t unlike retirement accounts. The savings and investment accounts are intended to grow as your child grows, creating a fund they can tap into after turning 18.

Then, funds can be used for education costs, a home purchase, or to start a business. Estimates suggest Trump accounts could be worth thousands (or even millions) of dollars by the time a child is old enough to tap into them.

A financial firm will hold the account and oversee the investments, much like your 401(k).

You, your family, friends, and other adults can contribute to your child’s........

© The Hill