Why the Wealth Gap Is About to Explode — The Truth Behind the New Trump Accounts

**SPEAKER_1** (0:00)
Let's talk about this Trump situation. So first thing I want to talk about is the Trump accounts. So Trump accounts have launched.
If you're not familiar, so the Trump accounts is $1,000, they will be invested into eligible newborns. If you sign up, you have a child, $1,000 gets invested into an account, gets invested in the US index fund, grows over the course of, I think until the child takes it out. Until you take it out.

**SPEAKER_2** (0:26)
Yeah, if they- I'm just saying they can take it out anytime before 18, but it's penalized, obviously, like I always do.

**SPEAKER_1** (0:32)
You can leave it in longer than 18

**SPEAKER_2** (0:33)
Absolutely.

**SPEAKER_3** (0:34)
Yeah, and you should.

**SPEAKER_1** (0:36)
From, and it's actually retroactive as well. 2025 to 2028 is the qualifying years. It's invested in the US index fund, and you can add money to it as well. $5,000 limit as far as how much money you can add.
And access begins at age 18
So this made a lot of news, and we had a conversation in Atlanta about, I would be interested to know how many people is actually taking advantage of this. Cause we talked to somebody who was actually a mother. She had vaguely heard of it, but she's like, I feel like there's a lot of people that are not familiar with this, or are not totally enthusiastic, because it's Trump's name behind it, so they're not even going to follow the process. Or it's just a barrier of, you got to actually go online and you got to sign up. And it's like, that's a hurdle within itself. So the people that need it the most, that can benefit from this the most, I have a strong suspicion, they might be signing up the least.

**SPEAKER_3** (1:49)
Do you think they have a brand in the messaging problem? I want to ask you guys this.
Do you think a lot of our community won't sign up just because he blasted his name on it? If it was called a financial freedom fund for children or something like that, do you think it would have had more traction?

**SPEAKER_2** (2:06)
That's how the conversation came about. It was the idea of number one, who's going to sign up for it? But I think the missing piece is the education. I think most people don't even understand what it is or what it's for. Had it been named something else, I think there's a certain segment of the population that would have said, okay, we need to do this. Obviously, there's an emotional attachment to a certain demographic of the population when you hear the name. And so the question is, can you separate something that might be good from the person that is actually putting their name on it? That's tough for a lot of people.
There's a barrier there. There's also the barrier of trying to figure out, how do I get it? Now, the kids who are born January 1st of 2027 automatically are enrolled. The children that are born between, that works, but the children that are born between, and again, you said everybody can sign up for it. The people that are born between 2025 to 2028 get the $1,000 government funding.
The process of signing up for it, and shout out to PJK, he called me. He was like, I'm signing my daughter up for it. But yo, this form is crazy. So the form, like if you're a CPA, this is new.

**SPEAKER_1** (3:09)
Barrier of entry.

**SPEAKER_2** (3:10)
This is new. So this is new. So the forms got released today, so you can see how to sign up for it. It's called the 45-47 form.

**SPEAKER_3** (3:17)
Pro. Marketing again.

**SPEAKER_2** (3:20)
He's 45 and he's 47, and this is his form and these are the accounts.
But again, how many people are gonna actually go to the website, sign up for it, and say, okay, now what do I do? So I think where I landed on it was the education piece is what's needed. Can we educate enough people for them to understand that this is an account that can be beneficial for your child? Yes. There are 60 million people eligible. I think they said 6.1 million people have signed up already.
Out of the 6 million that have signed up, only 1.4 million were eligible for that 1,000. So that means that those kids were born between that 2,000 and 25, Jan 1, 2, it goes to present day, which is interesting, but there are barriers, right? You have to make a certain amount or under a certain amount to even qualify for it. So I think most of the people out of that 1.5 that are signed up had made under 200,000. Now we know a lot of people in our community make less than that. So it's about getting the information out. Now, is that our job? I think that's what we kind of were figuring out where our debate was going. Like, is it our job? Is it mandatory that we explain it to people? And I said, I mean, I landed on, if education is what we do, then yeah, part of it is to educate the people on what this is and how it could be beneficial.