Trump account to open registration and initial deposits on July 4th

According to Odaily, the "Trump Account" initiative launched in the U.S. will open registration and initial deposits on July 4th. First proposed alongside the "Great American" bill, the account allows parents to set up tax-deferred investment accounts for children under 18. Family, friends, and employers can also contribute to the account, with a maximum annual deposit of $5,000, which will be adjusted for inflation in the future. Additionally, the Trump Account permits employers to make subsidized contributions for their employees' children, up to $2,500 per year. Once the account holder turns 18, the account will automatically convert into a traditional IRA structure, allowing continued investment and contributions. (Source: war.gov)