My kids don't qualify for the free $1,000, but I'm still opening Trump Accounts for them

It’s a question that’s had some of my group chats buzzing since the investment program for children launched earlier this month.

Some are hesitant, unsure of the program’s future after Trump’s term concludes.

For me, the underlying concept of Trump Accounts is what I find so appealing.

The idea of giving children a financial stake in their future from birth is enticing.

Plus, it’s a way for parents and educators to teach basic financial literacy concepts early in life.

As a primer, Trump Accounts are tax-deferred investment accounts for US children under 18.

Families can contribute up to $5,000 each year.

The accounts will function like traditional IRAs once kids reach adulthood, the White House says.

The biggest perk: Those born between 2025 and 2028 are eligible to receive a one-time $1,000 deposit from the Treasury Department.

Outside donors, including employers and philanthropies, may contribute too.

Billionaire Michael Dell and his wife, Susan, as well as SpaceX’s Gwynne Shotwell, are among those who have donated to the program, drawing strong praise from Trump.

The White House said Americans have invested nearly $125 million in Trump Accounts in the first five days since they launched.

My colleague Mia de Graaf opted into Trump Accounts for her newborn. “I’m glad I opened the account, not because I think it will magically secure my daughter’s financial future, but because becoming a parent has thrown my vibes-based accounting into sharp relief,” she said, adding that she couldn’t turn down free money while paying NYC daycare prices.

As for me, my two kids are nearly 8 and 3, so they won’t qualify for the free $1,000.

Even so, I plan to open a Trump Account for each of them while continuing to prioritize their 529 college savings plans.

If nothing else, this is another opportunity to teach them about investing early and how even small amounts of money can grow over time.

Are you investing in Trump Accounts for your children?

Let me know at srussolillo@businessinsider.com.