289. Future-Proof Your Child's Finances: A Deep Dive into Trump Accounts and 529 Plans

Happy Friday Future Rich Fam! 💸 This week, Barbara Ginty, CFP takes a deep dive into the latest in tax-advantaged savings with the introduction of Trump Accounts from the "Big Beautiful Bill" and the expansion of 529 Plans. Whether you're expecting a child or planning for their future, this episode provides essential insights into maximizing these financial tools. 🔍 In this episode Barbara Covers: Trump Accounts: Learn about the $1,000 government seed money that the "Big Beautiful Bill" is offering and how these accounts function like a non-deductible IRA.  529 Plans: Discover the flexibility of 529 Plans for education and retirement savings, including the potential for state tax deductions. Comparison: Understand the differences in contribution limits, tax implications, and qualified expenses between the two plans. 💡 Knowledge is power—don’t miss this important deep dive! **All of our newsletters have moved to Substack, so subscribe if you want to keep in the loop with all things Future Rich! We have free subscriptions and paid subscriptions.  This season of Future Rich we’re bringing you even more REAL guest stories about personal finance AND diving deeper into retirement planning. Got burning questions about retirement? Or want to be an anonymous guest on the pod? 🌍 No matter where you are in the world or your financial situation, we’d love to have you! 💌 DM us on Instagram (@futurerichpodcast) or apply here. Let’s make it happen! ✨ #FutureRichPodcast Subscribe to our YouTube Follow us on TikTok Follow us on Instagram Visit the Future Rich Podcast website for Financial Freebies and Classes Leaving reviews on the podcast is the best way to boost us on the podcast platforms and help more listeners get #FutureRich Download a free guide today to help plan your financial future! The content in this podcast is for informational purposes only. All investment strategies and investments involve risk of loss. Nothing contained in this podcast should be construed as investment advice. Any reference to an investment's past or potential performance is not, and should not be construed as, a recommendation or as a guarantee of any specific outcome or profit. Advertising Inquiries: https://redcircle.com/brands Privacy & Opt-Out: https://redcircle.com/privacy