'Trump Account' newborns could have $1.9M by 28, Treasury Dept. says. Here's what's required to get that much

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• Annual costs of raising a small child average $29,419 today, a 35.7% increase from 2023 survey

  80% confidence

• With no additional contributions beyond initial $1,000, accounts could turn into between $3,000 and $13,800 over 18 years depending on performance

  80% confidence

• To reach $1.9 million by age 28, parents would need to max out accounts by investing maximum every year until child's 17th birthday, starting at $5,000 per year adjusted for inflation

  80% confidence

• Trump accounts could grow to $1.9 million over 28 years

  80% confidence

• Moby's individual stock picks have outperformed the S&P 500 index returns by an average of 11.95% per year over the last four years

  80% confidence

• Trump accounts provide a more limited and restricted tax benefit than existing saving incentives, such as 529 accounts

  80% confidence