Beyond the Piggy Bank: How to Build Your Child's Financial Future

(Feature Impact) When money is tight, saving for the future can feel out of reach. Rent, groceries and bills come first, but building something for your kids doesn't have to start with your paycheck. For millions of families, there's already money waiting.

Michael and Susan Dell put $250 into the 530A (Trump) Accounts of 25 million children across the United States. Children born between 2016-2024 who live in eligible ZIP codes received the money. Families didn't have to apply, and they don't have to pay anything back.

"Every American child now has their own investment account," said Matt Lira, executive director at Invest America, a nonprofit that helps families understand investing. "It's in your child's name, it's built to grow and it's theirs from the very start. That's a real stake in America's future. Claiming it takes a few minutes, and your child begins life as an owner."

U.S. children under 18 with valid Social Security numbers already have accounts in their names, and any money in it is invested so it can grow over time. You just need to claim it. Download the official app, available on iOS or Android, or go to the official website then sign in as a parent or guardian to access your child's account. You can choose to add money if you want, but it's not required. Claiming the account also lets friends, family, employers and others contribute.

"Parents and grandparents, please claim your child's account," said Susan Dell, co-founder of the Michael & Susan Dell Foundation. "These accounts are ready. They're waiting for you, and they have money in them. Claim your child's account and start adding money to their account and preparing a wonderful future for them."

Money Lessons That Don't Cost a Thing

Claiming the account is the first step. Helping your child understand it is the next. When kids know they own something that can grow, money lessons stop feeling abstract. These everyday habits can help them make the most of it:

• Let them see how you make choices. You probably already compare prices, stretch a grocery budget and decide what can wait. Talk through those choices out loud. When kids hear why you picked the store brand or skipped something this week, they can learn how to tell needs from wants.

• Give them a little to manage. Birthday money, a few dollars for chores or earnings from mowing lawns or babysitting are all chances to practice. Let kids decide how much to spend and how much to save then talk about how it went.

• Explain saving vs. investing. Saving is putting money aside for something you want soon, like a bike. Investing is letting money grow over many years. For example, 530A (Trump) Accounts are a real-life example of investing that kids can check a few times a month to see how money grows.

• Talk about what they dream of.Ask your kids what they want someday, like a car, college, a trade, their own business or a home. Knowing they have money saved or invested can help them dream bigger, because those goals start to feel possible instead of out of reach.

Small Amounts Still Count

If you're ever able to add something to an investment account, even a few dollars now and then, it has years to grow. Relatives can help, too. A small amount on a birthday or holiday adds up over a childhood. However, if adding money isn't possible right now, that's OK.

"In America, small beginnings can become extraordinary things," Michael Dell said. "When we invest in children's futures, we invest in America's future. We are so excited to see what they build."

Claim your child's account today through the official app or at TrumpAccounts.gov.

Common Questions About 530A (Trump) Accounts

What is a 530A (Trump) Account?

It's a free investment account for U.S. children under 18 powered by the U.S. Treasury. It's in your child's name. The money in the account is invested in hundreds of America's biggest companies at once, so it has the chance to grow over time without you having to pick anything. The account also has tax benefits. The money can grow for years without being taxed along the way, which helps it grow faster.

Does my child have one?

U.S. children under 18 with valid Social Security numbers were signed up automatically, and nearly 70 million children already have accounts. You just need to claim your child's account to track its value over time and help it grow. You just need to claim your child's account to track its value over time and help it grow.

How do I claim it?

Download the official app on your smartphone or visit the official website. You'll confirm some information and claim the account. It only takes a few minutes, and it's free.

Do I have to put money in?

No. Adding money is always possible, but claiming an account allows other people to contribute, even if you don't.

Can other people add money?

Yes. Parents, grandparents, other family members, friends and even employers can add money. The total limit is $5,000 per child per year. Other government or charity programs may add money in the future, too.

How were children chosen for the $250 from Michael and Susan Dell?

Families did not apply, and children were not picked one by one. The foundation started with the lowest-income ZIP codes, based on U.S. Census data, and kept adding ZIP codes until it reached 25 million children. Learn more about eligibility at investamerica.org/dell.

My ZIP code wasn't included. Does my child still have an account?

All U.S. children with a Social Security number have an account. The ZIP codes only decided who got the extra $250.

When can my child use the money?

At 18, your child can decide what to do with it. They can keep it growing for retirement or use it for things like school or buying a first home. 

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