RunninTwinsMama
550 posts















AOC tries, fails to mock Rubio: "My favorite part is he said cowboys are rooted in Spain. Uhhh, speak to Mexicans & African slaves!"



So my take on the Trump account trying to add some nuance. First Free money is free money, if you are left or right and have kids take the account. Don’t be ignorant because it’s named Trump account lol (We get it he’s egotistical ) 1k compounded over 18 years is $5560 Adjusted for inflation closer to 3750-4k It goes into low cost index funds which is fine. I personally have my own kids investment accounts, with about as high risk investments including even some bitcoin but 75% high risk stocks. Few down sides of the Trump account are that the money is taxed upon withdrawal so you don’t even get the full amount 529 plans are way better for kids for education because it’s not taxed if used for education. So I’d rather contribute to a 529 then put more into a trump account But it is good for parents and kids to have some sort of investment to open up the conversation of investing in the future of your kids or the kids finding interest in the market early. Custodial Roth IRAs are better than trump accounts because they can be life long, and you can put more into it yearly as a tax write off. If you put the max (7k yearly) they will have 330k at 18. The real move is for them to not use it and barrow against it avoid tax, or keep contributing. Even with out future contributions it’s 5.5m at 60 yrs old if you just did 7k yearly 1-18 yrs old. It will be completely untaxed at 60. Also only the interest is taxed if withdrawn early. But I do love the idea of having all kids with investment accounts just to put the seed into their minds and even the parents minds about investing even a tiny portion of the money you make to allow for your child’s success.









Not that anyone's paying attention, but the Olympics start tomorrow.






















