Winning in Retirement

Trump Account for Children

• Akers Financial Group

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Brian Akers and Samuel Huff discuss the new Trump accounts for children born between January 1, 2025, and December 31, 2028, which offer a $1,000 government contribution. Samuel, who set up the first Trump account at AKERS Financial Group, explains the process, including filing Form 4547 with tax returns. The accounts are managed by Robinhood and invested in low-cost index funds. Contributions are capped at $5,000 annually, including the $1,000 government contribution. The accounts are intended for retirement, not college funds, and can be converted to Roth IRAs at age 18. The hosts emphasize the importance of understanding investment details before contributing. Brian Akers from AKERS Financial Group emphasizes that financial freedom is achieved through strategic planning rather than luck. For 34 years, his team has helped Maryland families plan for retirement by creating customized plans to grow wealth, minimize taxes, and protect assets. Akers stresses the importance of tailored financial strategies, likening each plan to a unique fingerprint. He invites listeners to schedule a free meeting by calling 833-946-7384 or visiting AKERS Financial Group's website to discuss their retirement goals. The program is sponsored content and may not reflect the views of WJZ FM Odyssey.

Unknown:

The following is a prerecorded show. Welcome to Winning in Retirement with your host BRIAN AKERS, certified financial planner professional and founder of AKERS Financial Group. Now helping you win in your retirement. Here's BRIAN AKERS.

BRIAN AKERS:

Welcome to Winning in Retirement. I'm BRIAN AKERS, president and founder of AKERS Financial Group, and a certified financial planner practitioner. We have a special show for you today. I brought Sam Huff from my office, a financial advisor. Good morning, Sam Huff.

Samuel Huff:

Good morning, great to be here, Brian.

BRIAN AKERS:

It's been great having you at AKERS Financial for over five, over almost five years, four years now, right?

Samuel Huff:

Yes, sir, that's correct. It's been a great ride so far.

BRIAN AKERS:

I believe that we should have a show, and that show is to celebrate your child that was born a year ago.

Samuel Huff:

Consider this almost an early birthday party for him.

BRIAN AKERS:

Absolutely, and what we want to do is talk about the amazing gift of a new investment account that's out there. Everybody wants to hear it. I think it's called Trump accounts.

Samuel Huff:

That's right, sir, a Trump account.

BRIAN AKERS:

Now, in our office, I believe what's happening really well is that you had got the opportunity to be the first person at AKERS to set up a Trump account, and we're going to walk through that as part of our first quarter here. Sam Hoff is a financial advisor, works with our clients, and what we try to do is make sure every one of us is working on different areas. Now, for Sam. He's been our Trump account guy. He's the one that's actually filed it with your tax return. Is that right?

Samuel Huff:

That's correct. So, with your 2025 taxes, if you had a child born in 2025 you can file a form 4547 and that starts the process.

BRIAN AKERS:

Yeah, 4547 form. Guess where that came from? Right,

Samuel Huff:

that's right.

BRIAN AKERS:

President of 45 and President 47 is Trump, and that's where he got that form from to set this up. All right, so what's happened so far for you? You had to set up the account. How did you do that,

Samuel Huff:

right? So, as I said, with your 2025 taxes, you file a form 4547 Along with that, I got an email from Trump account.gov around mid June,

BRIAN AKERS:

is it Trump accounts with an s at.gov Thank you for that correction. Yes, so Trump accounts with an s.gov If you go there, they have a full website planned out for you to really see and read and see videos, and that's what you went through, right?

Samuel Huff:

Exactly right, exactly right. So, when you go to that, the link that they provide for you, you fill out the information that you filled out in your tax return, so you confirm your information, and you confirm the child's information as well. And then you get a bright, happy celebration screen that says your child will get a gift of$1,000 courtesy of the US government.

BRIAN AKERS:

And that starts July 4, 2020-six is when Trump accounts should be funded somewhere around that time. Is that correct?

Samuel Huff:

Yeah, we'll see. We'll see. The website says as early as july 4, they don't say the later date. We'll see what that is,

BRIAN AKERS:

the actual date, right? Yeah,

Samuel Huff:

exactly. All

BRIAN AKERS:

right, so some general thing, Trump accounts are the idea is a child's born what, January of 25 through December of 28 and then there they will be eligible for this$1,000 That's

Samuel Huff:

correct. Every child will be eligible to open a Trump account, but only children born january 1 of 25 through december 31 of 28 will get the free $1,000 deposit.

BRIAN AKERS:

Now every child, there's an age limit, 10 years old, I believe.

Samuel Huff:

I believe you can open the account until they're age 18.

BRIAN AKERS:

Okay,

Samuel Huff:

yeah,

BRIAN AKERS:

excellent. And so what happens is this: some people think, oh, this is a child account, it'd be great for college, and what we want to tell people is this show today is called Trump accounts, it's a retirement account, not a college account. So this is really about taking, helping up an account for your child that's going to grow for their retirement 59 and a half years from now.

Samuel Huff:

That's right. I would, I would consider it as if you're considering it as an education vehicle. I would say you're educating your child how to invest, what is investing, what is compound interest, but it's not going to be used for their education itself

BRIAN AKERS:

at all. I believe that is when they're 18 years old becomes like a retirement account.

Samuel Huff:

Yeah, the website says that a Trump account is a sort or a kind of individual retirement account.

BRIAN AKERS:

Yeah, I wonder how they'll label it once they turn 18. We'll find out. I'm wondering

Samuel Huff:

that we'll see in 18 years.

BRIAN AKERS:

Well, the thing about this is that it's sort of being created on its own. Right now, there's one custodian. A custodian is someone that would hold the money. Who is that?

Samuel Huff:

Currently, all the Trump accounts are through Robin Hood.

BRIAN AKERS:

So, Robin Hood would be the custodian that you have a direct account with. That AKERS Financial does not represent Robin Hood or have money through Robin Hood. So, this would be something where you have a direct account with them, the $1,000 will go in sometime after july 4, and that would be the beginning of the account and the beginning of the growing of that account.

Samuel Huff:

Absolutely, absolutely.

BRIAN AKERS:

Now, the good thing is that this money grows tax deferred, that means that it's going to be taxable at some point in time, and it's going to be tax. Possible when they withdraw at retirement age, and they really have no ability to withdraw the money until what age

Samuel Huff:

that would be, unless there's some other circumstance that'd be age 59 and a half, so they got a long wait coming up,

BRIAN AKERS:

yeah, without the penalty, right? But I think there's no way to withdraw till 18, and then after 18 you can pay the income tax on the on the 1000 plus growth, and another 10% penalty, and get it out if you had to. I think, right,

Samuel Huff:

that's correct. The same exceptions would be as if it was a normal individual retirement account, such as if you're purchasing a home, you can pull out $10,000

BRIAN AKERS:

out of Trump account,

Samuel Huff:

out of the Trump account, and the other one would be, I believe, for direct tuition payments you can pull funds out

BRIAN AKERS:

up to a certain limit of hope.

Samuel Huff:

Yes,

BRIAN AKERS:

we'll have to find out, right?

Samuel Huff:

We'll have to find out.

BRIAN AKERS:

All right, so as we talk about the Trump account, I kind of understand that it's a brand new child, well, a fresh one, one that just occurred, right. And so Sam is a new father, and it is wonderful to be able to have an account where there's technically free money, right.

Samuel Huff:

I'll never say no to it, Brian. Yes,

BRIAN AKERS:

so we encourage Sam to investigate this to get started in it. We also encourage Sam not to contribute to it at the at the beginning, because we don't know all the facts, right.

Samuel Huff:

That's right. If I'm putting my money somewhere, I would much prefer to know where my money is going.

BRIAN AKERS:

All right, so the reason I'm heading this direction in our conversation is the reality is, do you know what index is being purchased inside the Robinhood account?

Samuel Huff:

All I know, and all they've told anybody is that it will be invested in a one ETF that covers a broad US company stocks,

BRIAN AKERS:

right, and so we don't know exactly what ETF that is, and so when we invest money as an advisor, it's say if you want to add extra, I wouldn't add something you don't know what you're buying.

Samuel Huff:

I absolutely agree. Hopefully they'll tell us by july 4 when the accounts will supposedly be funded.

BRIAN AKERS:

The word supposedly is funny. Well, it's the concept is that they had a law started in july 4, 2025 to create these, the funding and all that is working. The reality of Ken, are they at a point where they can actually accept the money and get the money there? That's going to be the hardest part. It looks like the website's up and running, the forms hit, hit on for your tax return. You can also go to Trump accounts.gov and do the form right now. It doesn't have to be with the tax return.

Samuel Huff:

Yeah, it looks very simple. I was lucky enough to fill it out with my 2025 taxes, since we have great tax advice here at AKERS Financial Group. Yeah, but if you didn't, you go to trumpaccounts.gov they direct you to the IRS website, and it's a pretty simple process to file the form directly online there, and then presumably you'll get an email shortly after with instructions on how to open the account.

BRIAN AKERS:

Yeah, so what happens is this is that his child will be able to put money in, $1,000 and what's cool is that money can grow over time, and so if it's in a stock market and average like 8% 10% a year, you can actually take advantage of the ability to compound the growth over many, many years, and so that's a nice thing. And now this is not a fund that's going to be for buying a car, paying for tuition, private school. It's really not to be used at all, except for retirement accounts. It can be converted to a Roth. What that means is that you can actually move it to a Roth IRA once that child has earned income, like a normal conversion rule, and I convert it to a Roth, within, make it tax free, ultimately after you pay the tax on the conversion. So, there's lots of options, but we're talking, let's call it 1618 years from now, before we do that for anybody.

Samuel Huff:

Yeah, right now

BRIAN AKERS:

we're just talking about Trump accounts and what they are all right. Tell me about the website. Did they educate you on investing? What kind of videos, things like that, they walk you through?

Samuel Huff:

Yeah, the website's pretty cool, I would say, especially if you're raising your children and trying to emphasize financial literacy and everything like that. The website can be very useful. There's explanations on what is a stock, what is an ETF, what is compound interest? Why do we invest? How long does it actually take? And one thing that I thought was really good, Brian, was what's the difference between putting in $1,000 now and putting $1,000 in, and then say even $50 a month? Over time, those small contributions make a really big difference.

BRIAN AKERS:

They do, and that's exactly a concept for any style of investing. The thing about the free money of the government contribution being $1,000 and opening an account for that, I really like that idea, because you get the free money. The contributions, I'm very leery of adding contributions into a Trump account, I rather add it to any other investment. And then, throughout the show today, we'll talk about what other investment choices are out there. There's uniform transfer to minors, there's Roth IRAs for kids who have earned income at a young age, there's five to nine. I believe in investments is always about purpose. What are we trying. To accomplish what we're trying to do now, grandparents, people like that, might want to put more and more money into some account like this. There might be another account that might be more beneficial to give the family control before the next 18 years if it's needed. So, the idea here is this: understand Trump accounts. Now, Sam, you and you and your wife set up this account. Yeah, you guys set up that account. Did you set up with one person, or can both you be on the account? Was how did you set up the account?

Samuel Huff:

Just one parent can be on the account with the child. So, in this case, it's me.

BRIAN AKERS:

Now, can it be anybody? Can the grandparent or an uncle and aunt set up an account for a child? How does that work?

Samuel Huff:

Yeah, it's an important question. So, it there's a certain order that it goes in for the child, the legal guardian can open the account, and, assuming that's a parent, obviously a parent, but if the parent isn't the legal guardian, the parent has no authorization to do so. So, it goes legal guardian, parent, and then grandparent.

BRIAN AKERS:

So, grandparent after that. Okay, you can't have multiple accounts just once,

Samuel Huff:

right? So,

BRIAN AKERS:

you can't have 10 accounts, get 10,000

Samuel Huff:

So, unlike a five to nine, or unlike a IRA, or anything like that, you could only have one Trump account. Trump account is unique, individual, one per person.

BRIAN AKERS:

So you need a child's name, says query number, and all that to be able to set it up

Samuel Huff:

exactly right.

BRIAN AKERS:

And that all goes through the website to begin.

Samuel Huff:

That's right. Yeah,

BRIAN AKERS:

and once again, let's review, that's Trump accounts with accounts of the s.gov and then that leads you to the IRS form 4547

Samuel Huff:

yes, 4547 if you haven't already filled it out with your tax return,

BRIAN AKERS:

and that's if the child's born and you're given a birth date and a social security number, if the child's coming, then we'll have more information about that after this next break.

Samuel Huff:

Exactly right. All

BRIAN AKERS:

right. Well, I appreciate the information, Sam. I know you've been going to helping us guide through and be the first one to sign up, and hopefully, hopefully, we'll see the money arrive and be there for you, your child, for the future, and we'll see actually what investment it buys. Right?

Samuel Huff:

I'll keep you updated.

BRIAN AKERS:

That'd be great. I appreciate it very much. Now, AKERS Financial Group, we're local, we're independent. We don't report to a big company on Wall Street, we report to you. We do have offices in Farsi and Lutherville, clients all around the Mid-Atlantic region, all around the country, and even a few around the world. It's so easy to begin winning in retirement. You just give us a call and schedule your free meeting with one of our team of advisors by calling 833 win retire, that's 830 3w I N R E T I R E. We'll give you a call on Monday to schedule a free in-person meeting. Go to AKERS Financial group.com or call us at 833-946-7384 to start planning for your retirement now. Do you get to pick the Trump account investments? We'll talk about thus when we return,

Unknown:

you're listening to a pre-recorded show. Welcome back to Winning in Retirement. Call 833 win retire now to schedule a visit with Brian and his team and begin winning in retirement once again. Here's BRIAN AKERS.

BRIAN AKERS:

Welcome back to Winning in Retirement. I'm BRIAN AKERS, President and Founder of AKERS Financial Group. Today's show is called Child Trump accounts. We're gonna talk about retirement account, not a college account. Now, here in the second quarter, I'm bringing another financial advisor in off the bench. She's been sitting on the bench, ready and waiting as Sam Huff. He's a, he's our youngest guy with a child. He was born last year. Now we bring Paul Franco, who has a child due in August this year,

Paul Franco:

coming due August. Yeah,

BRIAN AKERS:

Paul Franco is a financial advisor at AKERS Finance Group, has been on the show many times. Welcome to the second quarter here, Paul.

Paul Franco:

Yeah, this is odd, not doing the first quarter with you, but this is nice. Yeah, two more quarters to

BRIAN AKERS:

bring reality of someone who's actually done it, actually gone to the website, sign their child up, and that's what we walk through.

Paul Franco:

Yeah, it's so interesting. You, we get so many calls and questions about these Trump accounts, and a lot of it's we're learning as we go, right? If

BRIAN AKERS:

you have a child, will come in this year. Congratulations. Thank

Paul Franco:

you. Yeah,

BRIAN AKERS:

but you can't have a Trump account yet?

Paul Franco:

Not yet. Nope. Gotta have a social security number, Brian,

BRIAN AKERS:

for me or for them. Yeah, so the child would have to be born, have a name, have birth date, have a social security number. Then you could go and file your fancy 4547 form.

Paul Franco:

Yeah, isn't that funny? 4547 and you get that

BRIAN AKERS:

through irs.gov or you can go to the Trump accounts with an s.gov and get all the information and find out about it. So today our goal is to really talk about Trump accounts, our opinion of it, how to work with it. How is it? How does it work? Should we care? Should we do something about it? I'm always into, like, saying yes to free money.

Paul Franco:

Yeah, absolutely.

BRIAN AKERS:

So, no matter what we talk on the show, hey, do the paperwork, not really paperwork, all online, get it signed up, get your child signed up, and let's go.

Paul Franco:

Yeah, yeah, and you can even have, depending on like the time frame of when your child's being born. For those who are expecting, like, this is a big deal. It's, you know, having, you know, that there comes a time that you're going to have to go up and sign up for it. We want you to. It's free money.

BRIAN AKERS:

Yeah, so the free money is $1,000 from the federal government. They say it should arrive. After july 4 of 2026 no date after that. Now, here in the second quarter, we're going to get into a little more detail, but we're going to talk about the very first thing that drives me a little crazy, and

that is this:

Do you get to pick the Trump account investments, Paul Franco? Do you get to pick after your son's son or child is born. Are you able to pick the investment?

Paul Franco:

Yeah, it's the language is a little bit odd with the way they kind of say it, but they use language like you have to buy low-cost index funds, index strategies, ETFs, and I sure hope we're going to be able to pick those, pick those choices, especially if we know we're going to be investing this money for a longer period of time. I want to make sure we're getting good returns, good long-term returns.

BRIAN AKERS:

In my understanding, they're going to have one, and then I don't know. I believe they'll add later more choices. I also believe they're still building it out, right? Work

Paul Franco:

right. So, like you said, like you said before the they're using Robin Hood as one of those kind of agents to kind of create this infrastructure, but will they let you transfer it out to other custodians later? Not yet, not yet, right? There's only one

BRIAN AKERS:

approved, right?

Paul Franco:

Right. And so I'm sure that may happen, but

BRIAN AKERS:

when the child's 18, I believe there'll be a version, but that's a long time from now. Sure. So, who can open the account? Is some children. It's four children that are born January of 2025 and are will be born by december 31 of 2028

Paul Franco:

Yes,

BRIAN AKERS:

just happened to be during this presidential time period.

Paul Franco:

Yeah, and boy, oh boy, if you were born December of 2024 you just missed the cut. You don't get the 1000

BRIAN AKERS:

bucks, you still have an account.

Samuel Huff:

Yep,

BRIAN AKERS:

but you can't get 1000 bucks,

Paul Franco:

right?

BRIAN AKERS:

All right, so investment choice is a big deal. And then one of the reasons that when we talk about Trump account, there's a free money, you got to sign up, get it set up for that child. The next thing is, should you add money when you don't know the investment? I say, no. What do you think, Paul?

Paul Franco:

I would, I would agree with that. And I'd say, wait, wait till we know more. At this point, there is no tax break for contributions, and so there's not a huge benefit in contributing. Now, one big benefit would be the accumulating, the compounding of that money on larger sums, but there's a lot of unknown out there, so I'm with you that that really just signing up, getting that free money, the free $1,000 seed, they're calling it, that's going to go in that account, is and investing that is the good first step.

BRIAN AKERS:

Yeah, now the reality is, Who can actually open it? We talked about that in the first quarter, basically it's the legal guardian, the parent, the sibling, and only after that it could be a grandparent. So, grandparents just can't rush out and get it. They only can be one per child. It really needs to be opened by the parent.

Paul Franco:

Yeah, you know what's ironic, Brian, is that I've been getting more of the questions from the grandparents, not the parents, the grandparents. Well,

BRIAN AKERS:

that's why we bring this up on their winning and retirement shows, called The Grandparents Come to Us and Go,"Hey, I like my kids, I love my grandchildren. Yep, how can I help them with their future? How can I give them money? And this comes down to this whole concept of how can they do it. What's what are the best way to do a legacy? So, Trump accounts, the concept came from the one big beautiful bill last year, and that that was when it started, july 4 of 25 and then now they're actually getting it funded and getting started sometime after july 4 of 26

Paul Franco:

Yeah, the concepts really incredible, you know, in some ways just like the idea of setting aside money early, as early as when they're first born, and having money grow in compound for 18 years or more, and having them get a jump start when they hit, when they do turn 18. I like the concept of that,

but here's the thing:

as planners, we try to plan that already. We plan that ahead of time

BRIAN AKERS:

in many different ways.

Paul Franco:

Absolutely. Yeah,

BRIAN AKERS:

so later in the show, we're going to cover all the different ways you can save for grandkids and money put aside for them, for that, for certain reasons. There are certain accounts that can do that. This account has a one major thing, and that is liquidity. Is there liquidity?

Paul Franco:

Yeah, and we're going to cover

BRIAN AKERS:

that also as we get to the third quarter. One of the things about investing is that I love investing when I know what investing in, and so that's why you're allowed to contribute 5000 per year, I believe, to the account.

Paul Franco:

Yep, that's correct.

BRIAN AKERS:

But I don't, can't put more than that, but I also don't want to invest money in something I don't know, where's being invested?

Paul Franco:

Yeah, absolutely. And the 5000 per year, by the way, is all contributions into that account, can be from employer, from personal from grandma from grandpa, it has to be $5,000 maximum.

BRIAN AKERS:

How about the federal government 1000 that counts?

Paul Franco:

That's a good question. I think it does. Yeah, the first $1,000 would count towards that $5,000 limit in that first year.

BRIAN AKERS:

Now, contributions.. I've heard that in some states there are wealthy p. People that have come alongside, like Michael Dell, has put aside, like, was it $6 billion to give out to people that live in certain zip codes, certain economic situations where they'll put some money aside, right?

Paul Franco:

Yeah, yeah, and that's a, it's a really cool legacy and tool for that, but yeah, we have to, we have to count that towards our contributions. It's almost like contributing to a traditional IRA, where if your limit, if you're under 50, is 7500 you can't go over that limit. It works kind of similarly to that with that $5,000 figure.

BRIAN AKERS:

And do you remember about the Michael Dell story, and like, how much per kid is it? 250 a kid,

Paul Franco:

I believe it's 250 unless that's changed, but $250 per child based on the zip code that you're in, and using income thresholds, which I believe is$150,000 for a married couple, if you're below that.

BRIAN AKERS:

That's only in certain states, though. I think,

Paul Franco:

yeah, absolutely. And

BRIAN AKERS:

who else did this?

Paul Franco:

So, Ray Dalio, Ray and his wife also are kind of pledging some funds to help towards this, depending on

BRIAN AKERS:

the state of Connecticut, state

Paul Franco:

of Connecticut, right. And then Brad Gerstner, another fellow that's been outward big fan of the Trump accounts, has pledged it to Indiana residents, and under certain circumstances, that's pretty cool, though. You know, just it's also, you know, free money that they're putting into your account, that money grows and compounds for you. It's a good deal.

BRIAN AKERS:

Yeah, so the idea here is this is that you can fund it, and the government is going to fund one time. There might be someone that has a philanthropist that wants to add to it. You have to see how to fly for that, and then there's the idea that your employer has the right to fund it, if you choose. I am not sure about that as an employer. If I would, yeah, yeah, I'd like to know what's invested. I'm so hung up on where's.. where's.. show me my money. Where's it going?

Paul Franco:

Yeah, there's.. I've read there's a lot of employers that are out there that are considering matching contributions, matching contributions you make into those, but again, there's really, there's no tax break, though. Brian, you know, that's the, that's one of the fascinating parts, which I'm sure we'll get into a little bit later. But yeah,

BRIAN AKERS:

oh, you never know with no tax breaks. What's the reason? The reason usually when you invest with no tax break is you wouldn't have access to the money, and the simple thing is you have access after 18 years old, right?

Paul Franco:

Yeah, like you said before, before that, right? You forfeit liquidity, absolutely.

BRIAN AKERS:

Yeah, so through the Trump accounts, the child Trump accounts that we're talking about today, on those Trump accounts, they are a retirement account, not a college account. So, when we're talking about investments, putting in stock market is a good place, and sounds like that's where they're headed into, like an ETF, exchange traded fund. They have videos on Trump accounts.gov to try to teach you about these things. These are not through advisors, there's no, there's no advisor involvement of it's all you directly through these accounts, so that's why we have a little ratio radio show to teach you about them.

Paul Franco:

Yeah, yeah, very, very important, especially this time of year. Now,

BRIAN AKERS:

all right, so Paul is in a situation where they're having a child soon, they can learn about it, but he can't act on it until after the child is born. Then they can set up the account, and then a money will be funded at some point in time after that.

Paul Franco:

Yeah, they do just say it's going to be sometime after july 4, really not a specific date on when that first$1,000 gets put into the account for you.

BRIAN AKERS:

Yeah, I'm not going to tease about the name Trump accounts or if his picture of him will be on this statement or not, but the idea is that people save money, they grow tax deferred over time, there are penalties later, things like that. If you pull it out, I think the idea of funding and getting money set aside for people long term is a good idea, teaching America to save and to try to grow,

Paul Franco:

yeah,

BRIAN AKERS:

and that's all very big deal. So, this quarter we're talking about, do you get to pick the investments with Trump and accounts? And the answer is, we don't. Answer is no. Right now, we're hoping they allow more choices. I think

Paul Franco:

I think they will. I think they will eventually. It's just a matter of when and when other custodians will create their version of that, that you can transfer over to,

BRIAN AKERS:

yeah. When who will they allow in? I think 3 million people signed up so far.

Paul Franco:

Yes,

BRIAN AKERS:

and we'll see from there.

Samuel Huff:

Yeah,

BRIAN AKERS:

so the show's going pretty quickly so far about Trump accounts. Why do we do a show on Trump accounts? It's about giving money for that kids and grandkids, helping them have a future that's bright as pensions and all these other things go away. We have to save on our own people that have a little extra money, grandparents especially. They want those kids to be successful financially, and learning about compounding their investments is a big deal, and that's how they can make this money last a lifetime. We even help these kids have money throughout their lifetime. Also,

Paul Franco:

definitely,

BRIAN AKERS:

yeah, things go faster, all right. For 35 years, we have been helping Maryland families build secure retirements that won't run out of money. We know that creating reliable income is one of the most important parts of any retirement plan. At AKERS Financial Group, we designed personalized, tax-efficient strategies to generate, generate dependable retirement income from your lifetime of saving. Things, so that you can enjoy your retirement with confidence. So, give us a call at 833 win retire, and schedule an in-person meeting with one of our team of advisors, that's 833 win retire, 833-946-7384 or visit our website at AKERS Financial group.com scroll down to the Obama homepage, and schedule a meeting right there. Should you contribute to a Trump account? We'll talk about this when we return.

Unknown:

You're listening to a pre-recorded show. Welcome back to Winning in Retirement. Call 833 Win Retire now to schedule a visit with Brian and his team and begin Winning in Retirement once again. Here's BRIAN AKERS.

BRIAN AKERS:

Welcome back indeed to Winning in Retirement. I'm BRIAN AKERS. Here with me today is Paul Franco. We're talking about Trump accounts, child Trump accounts. They are retirement accounts, not a college account. So, Paul Franco, welcome back to the third quarter.

Paul Franco:

Hey Brian,

BRIAN AKERS:

hey Brian, you're not that excited, are you?

Paul Franco:

Oh, I'm, I'm very excited. I got

BRIAN AKERS:

$1,000 free money for you.

Paul Franco:

Well, we'll see when it comes in, right? Oh,$1,000

BRIAN AKERS:

because you and your wife are having a child later this year, and that 1000 bucks will go right into your child's Trump account.

Paul Franco:

Pretty good, pretty good deal, right? It'll

BRIAN AKERS:

be held by Robin Hood,

Paul Franco:

yep,

BRIAN AKERS:

and invested where

Paul Franco:

we'll see. Yeah, most likely

BRIAN AKERS:

the stock market is where they're gonna put the$1,000 into an index, and that index should be low cost, should be reasonable, and the idea is that you put money at zero, they're born, and then you run it to 18, the money starts to grow. So, 1000 bucks, I'm testing your math skills, Paul. Okay, 1000 bucks, they're born at 18 years old at 8% What kind of investment value should we be at?

Paul Franco:

Okay, so at 8% you should get two doubling cycles on that initial $1,000 so doubling

BRIAN AKERS:

cycles, right?

Paul Franco:

So that 1000 should turn to 2000 that 1000 should have 2000 after nine years, and then that 2000 would turn a double to 4000 at year 18, so roughly $4,000 if you don't add any new money to it, and

BRIAN AKERS:

you're just doing a rule of 72 estimating, you're not giving me some. I thought your brain gave us an exact calculation.

Paul Franco:

What's the exact one? Like 3000 somebody else, somebody will be able to pull it up. I'm gonna, I'm gonna go with roughly $4,000 Even

BRIAN AKERS:

that's funny. So we all know you can't get 8% every year, and it's not exactly, you get 25 you get negative 15. There's all kinds of movement. What do you think about the idea of these kids that invest their money now and then they take it out at retirement? It's, let's say, age 60, without adding anything else to it. What could 1000 bucks become for them now?

Paul Franco:

I did do the math on that through the fancy old compound interest calculator, and in 60 years on that initial 1000 you put in without any new contributions at an average 8% is a little over $101,000 by the time you're 60 years old

BRIAN AKERS:

about that that's very very cool oh man I did the actual calculator on the 1000 to the age 18 what is it $4,078 all right so little bit

Paul Franco:

more than that. Good.

BRIAN AKERS:

Now your estimate was right on.

Paul Franco:

Yeah,

BRIAN AKERS:

all right. So, what you just said was, if this child sets up this dumb, or not the child, they're just zero, right? They can't set it up. The parents set it up for the child, and the account is set up.$1,000 goes in, invest in stocks at average 8% for 60 years. So 60 years from now is the end of this of the century, 20, wow, yeah, yeah, it'd be 2086 right?

Paul Franco:

Yep, sure,

BRIAN AKERS:

almost, yeah, I

Paul Franco:

don't even want to think about the

BRIAN AKERS:

80s coming back, hopefully the music is as good as the last, that's right, that's right, but that amazing account will go from $1,000 to 100,000 roughly,

Paul Franco:

right. And that's just with compound interest,

BRIAN AKERS:

no adding to it, no nothing. Yeah, so what we're trying to get at here is that's a big deal for educating people, and I think it's exciting for people to realize, hey, I can do this by investing my money, I can do this by putting money in the stock market, not being scared and putting it just in a cash account, but I can make money grow to actually help my family way down the road.

Paul Franco:

Yeah, and that what you just said there, to educating the education aspect of it, then it teaches them, and other, then that then introduces the concept of other ways that they can save on their own, and they're introduced to that compound interest. I would love to be able to have a conversation with my son, when he is of age of understanding, and saying, "Hey, this money that you put, that we, that was put into this account for you when you were born, is now worth x amount of dollars, and they're gonna say, "How, what does that mean? And it introduces that conversation about compound interest, and I think that's a cool thing.

BRIAN AKERS:

Yeah, so Trump accounts, I think everybody thinks should think about it as a retirement account, a retirement account for that little kid, not a college fund. Now, there is a way to pull a little bit of money out for college, I think that's just like a regular IRA. There's a limit on how much, but it's a way of pulling it out, but it's taxable but not penalized,

Paul Franco:

right? Yeah, so there's weird rules. Around it, because what happens is it kind of converts into a traditional IRA when they hit the age of majority, which would be 18 in Maryland, and then so it basically becomes subject to the rules that a traditional IRA would be, where you can use the money to pay for qualified education expenses to avoid the 10% early withdrawal penalty, but you still have to pay tax on the money, you have to pay tax on all of the money, because it's just like a traditional IRA,

BRIAN AKERS:

there's never been taxed exactly, all right, so and it'd be taxed at whatever rate that child is at,

Paul Franco:

yep,

BRIAN AKERS:

so to convert, let's say at 18 years old, and the kids in college, and they can convert. What's a good thing about that? Converting is paying tax now and never again. But if they're not making any income, it could be a really good time to convert some or part of that account to a Roth.

Paul Franco:

Yeah, I think it's a really good idea. Yeah,

BRIAN AKERS:

and then it converts before they get a job. You can't contribute to a Roth at that age because you have to have earned income, but if you have a job, you can contribute. Yep. All right, so we could work with that.

Paul Franco:

Yeah, I think that's a really cool planning idea. And who knows down the road what that'll look like, but yeah, convert that $4,000 at a no income tax rate and let it grow tax free. It's really good deal.

BRIAN AKERS:

Yeah, I think so. The limit we talked about earlier is there's $5,000 a year, the most of that can go in it, and that's from all sources. It's like an IRA contribution, it's called a Trump, a child Trump contribution, 5000 not deductible, doesn't help you tax wise at all. Just get some money set aside. Generally, we're not a fan because of, we don't like knowing that we don't have a clue where the investments are going, and they don't have access to any of it in 18 years, so that's a tough thing.

Paul Franco:

Yeah, yeah, and maybe the rules will change a little bit.

BRIAN AKERS:

Hope they do. Yeah,

Paul Franco:

and then maybe that introduces a new radio show. We got to talk about the new rules, but for now,

BRIAN AKERS:

well, if you think about 401 ks, when they start in the 80s, um, 8080 threes, and those things are building out, it's all these different rules. Um, yeah, your pensions gone, but now you got to contribute. The contributions have to go into the investments the company picks, which back then was company stock, and maybe one or two others. There wasn't much choice, and then that was your choice. Money would grow, and then you couldn't even touch it till after you retired. Over the years, that's changed into portfolios, target date funds, in-service withdrawals at 59 and a half, lots of changes, lots of choices, and then people can actually move money out and keep working and build their portfolio as wide as possible,

Paul Franco:

right? Yeah, lots of flexibility

BRIAN AKERS:

in the 401 case, right? So I'm using that as an example of will the Trump accounts become that?

Paul Franco:

Yep.

BRIAN AKERS:

Now, who knows? Right,

Paul Franco:

right, right. I think you're right, though. They will become that in some way. It's just a matter of when, and so we got to stay on top of that, right?

BRIAN AKERS:

Yeah, so the thing about what state you're in matters, and that's because that would dictate if you have can move or access the money at 21 or 18. So that's a very important fact to know about the state that you might be in, or the grandchild might be in it currently. The child, like we're trying to say earlier, about the Trump account, she had to be born january 1 of 2025 through december 31 of 2028 to qualify for the $1,000 contribution.

Paul Franco:

Exactly. Yeah,

BRIAN AKERS:

that means if you're more than like a year and a half old, they don't get any free money, but you could have an account,

Paul Franco:

right? You can open the account, they can open the account, anybody under the age 18, for anybody under the age 18, but yeah, you're right, no, no $1,000 initial investment from the from the treasury, right?

BRIAN AKERS:

Yeah, and no free money, and I think without free money, I don't know if you should really do any of this, right? Yeah,

Paul Franco:

yeah, yeah, I agree. Yeah, the tough part is going to be like, even with like 529 plans, right? So, Maryland has our 529 plans for college savings, where you know we can make contributions and get a tax deduction on our state, depending on the plan you use, like if we use the Maryland 529 plan.

BRIAN AKERS:

Yeah, I

Paul Franco:

would be, I'd be very surprised if it's something like that, doesn't happen state by state, you know.

BRIAN AKERS:

Yeah, it's it. This is a federal government rule only, right now. The states haven't helped with it, contributed towards it, or offered anything, really. So, I think what we got to do is, though, the rules of the game are what they are, use those rules, be cautious, try to work the account the best you can. I would say, get signed up, take it to free money. I'm slowly thinking about adding, probably not right now.

Paul Franco:

Yeah, yeah, it's a tough one, because you, it's important to be educated on it now, because come 15 years down the road, and if the rules stay the exact same, and you go, I'm going to take money out of my Trump account to help, you know, my grandson buy his first car, and then you realize you can't do it, you can't touch

BRIAN AKERS:

anything right at 18, you can, but you can pay tax on the whole thing, and a 10% penalty, so if it's worth four or 5000 you're gonna have a $500 penalty, taxes on the growth, or all of it, it's never been taxed, just like ordinary income tax, exactly, it might not be a terrible thing. At a kid's tax rate, but is it best?

Paul Franco:

It's still, it's still penalties, it's still taxes, it's, you know, we try to avoid those where we can.

BRIAN AKERS:

Yeah, so what happens in investing at AKERS Financial Group? We love the concept of investing with purpose, investing your money, knowing what you're trying to do with it, and so when you have kids, younger kids, you have lots of choices. You have five two nines. You're talking about that with the Maryland 529 That Maryland 529 can be money that goes in, you get a little bit of deduction, and it grows tax free for the qualified use of college, and that also can go into a Roth IRA at the end after you had a 15 years. So the idea there on a five to nine, is open up one early,

Samuel Huff:

yeah, as

BRIAN AKERS:

early as you can,

Paul Franco:

yeah,

BRIAN AKERS:

like maybe right after they're born,

Paul Franco:

yeah, that's another one, right? You can't open it, I get that sometimes. How can I open my 529 plan before? Nope, still need a need to be born, you need to know their name, you need to have a social security number,

BRIAN AKERS:

officially you can find another grandkid and switch it out, but then it's not quite as clean.

Paul Franco:

Yeah, there's some weird planning things we can do, right, Brian?

BRIAN AKERS:

Yeah, so we believe investing with purpose, knowing how your investments are going to go, because you know what they actually are. I don't mean to make this sound so simple, but it is a big deal. I think it's nice when they come up with an idea, but the actual logistics of how's it going to work? We got to wait for that, so don't get so excited and throw money at things when you could have other choices,

Paul Franco:

right? But it does mean go online, it Trump accounts.gov sign up, do

BRIAN AKERS:

the videos, do the IRS form 4547

Paul Franco:

Yep, and then Brian, you mentioned make sure you coordinate it if you're, if you're a grandparent, make sure you coordinate it with, with your son or daughter, or, you know, another guardian. Make sure, make sure there's only one one Trump account being open for that, for that grandchild, or that child. Yeah,

BRIAN AKERS:

very true. And then the app, after it's open, you could contribute to it. We'll talk about more throughout the show about, should we do that or not?

Paul Franco:

Right.

BRIAN AKERS:

All right. Things are flying by this quarter. We've been talking about Trump accounts, and, but, and the big, big subject this quarter was really about, should you put money into that? Should you add money to it? And the answer is, we don't think you should. We think you should wait till there's more information. Some of that information is, where's it going

Paul Franco:

exactly? Yep, I agree,

BRIAN AKERS:

and so what will happen here soon, after the Fourth of July, will be the idea that they're going to fund the account, and that funding goes to your Robin Hood, custodian, Trump account, and then they'll invest the money in ETF, and we'll find out what they bought.

Paul Franco:

Yeah,

BRIAN AKERS:

not the best way to invest money, but that's an idea, all right. So we all want to retire, we know the best part of retirement is getting your time back, or decide how you use it, and that's what we do at AKERS Financial Group, is we help you get ready for your retirement years, and part of that is building your legacy for your family, and that's what our show is all about today. So go ahead and give us a call at 833-946-7384 or go to our website at AKERS Financial group.com that's a K E R S Financial group.com and sign up for our free meeting. Is the Trump account a good thing? We'll give you the verdict in a moment, when we return with more of Winning in Retirement.

Unknown:

You're listening to a pre-recorded show. Welcome back to Winning in Retirement. Call 833 win, retire now to schedule a visit with Brian and his team and begin winning in retirement once again. Here's BRIAN AKERS.

BRIAN AKERS:

Welcome back to Winning in Retirement. I'm BRIAN AKERS, President and Founder of AKERS Financial Group. Here to me today is Paul Franco, financial advisor. We both serve as financial advisors through AKERS Financial Group and through Arcadia's Capital, Arcadia's wealth and our license, and everything that's possible with trying to help people. We love financial planning. We think that's a big deal on financial planning when it comes to making sure whatever you're doing with your money applies to you and your situation, which happens to lead to this fourth quarter, which is, is the Trump account a good thing. Our show today is called a Child Trump account, retirement account, not a college account, but is it a good thing? And so, if you've listened to the whole show, you found out some of it is. But now we'll get to the bottom line answer. Is the Trump account a good thing? Paul Franco, what's your opinion?

Paul Franco:

I think it's a good thing. I think, if I do my math correctly, Brian, no initial contribution, that's 1,000% return on that free $1,000 that you're, that you're getting in that account for you, that you didn't, is it

BRIAN AKERS:

infinity return when you're not, when you got nothing? I

Paul Franco:

think you're right mathematically, yeah, but that's a free $1,000 by going on and signing up and having it put in your account, I think that's that's good, that's one way of maximizing your investments, is getting that, but I agree that contributing to it, I'd probably hold off at this point.

BRIAN AKERS:

Yeah, so the idea is the Trump account a good thing, it will be, we're still finding out everything about it, we're trying to figure out. Out of such thing as what is it going to be invested in. We know it's going to be an ETF or mutual fund, most likely an ETF, low cost, right? 100% stocks, probably.

Paul Franco:

Yep, yeah, it

BRIAN AKERS:

might be more balanced than just one index. I sure

Paul Franco:

hope we'll be able to help our clients, though, pick, you know, a little

Samuel Huff:

bit,

Paul Franco:

you know, some, right? I hope so.

BRIAN AKERS:

Well, we'll find out here, but the idea is this: Trump accounts are built for kids that were born January 1, 2025 through December 31 of 2028 Those kids get $1,000 added to their Trump account through the process of going on on websites, Trump accounts dot accounts with ns.gov and basically go on the IRS website on the 4547 or doing a three year return and then you get triggered open the account online and it gets set up and then you get your 1000 bucks ultimately after july 4 of 2026

Paul Franco:

yeah it's gonna be a it's gonna be interesting Brian I'm excited I'm I'm excited I'm looking forward to signing up, we'll see. I might, my due date is beginning of August, so we'll have to see, you know, if it's going to be sooner or after that, but it's, it's going to be a good, it's going to be a good thing.

BRIAN AKERS:

Yeah, I've not said on the radio that I'm getting my first grandchildren, two of them, this year, so both of them would have the opportunity for Trump accounts, right? That's

Paul Franco:

amazing. Yeah, I mean,

BRIAN AKERS:

we have to wait till we see they have to land, right? Then they have to get their birth dates, their screen numbers, and then we open up the accounts. Yeah, you

Paul Franco:

know, funny enough, this has nothing to do with this, but the appointment I just got back from, not too long ago, the OB-GYN said, "Paul, do you want to catch the baby? You want to catch the baby, and I looked at, I looked at her. I said, Are you really asking me that? Of course, I don't.

BRIAN AKERS:

I cut the umbilical cord on one of my children.

Paul Franco:

I'll do that, you know. But catching the baby was that, that's a.. I'll let the professionals handle that.

BRIAN AKERS:

You never know. So we're talking about Trump accounts. Well, let's continue my conversations. I got two grandkids coming, and those grandkids, and

Paul Franco:

it's amazing, right?

BRIAN AKERS:

Yeah, it is. That's one of those grandkids,

Paul Franco:

right.

BRIAN AKERS:

Absolutely, but they're coming, and they were gonna invest money, and I'm like, I'm not adding to a Trump account, because I don't know where it's going. I like to do something else. So, the first thing that I want to do is the Maryland five to nine plans. You can do 2500 per kid to start out, I can take it off my taxes. Anybody can add 2500 take off their taxes. No limit to how much goes in the same compounding can build for the purpose of education, private school, college. And I think, and we think about kids that are young, that's probably one of the biggest expenses they have faced in front of them, is however they're gonna be educated, getting that money set aside

Paul Franco:

right, and that, like you said, if you're going to open the Trump account with the purpose of education, you're probably opening the wrong wrong account. You're opening the 529 plan, because that's meant for education,

BRIAN AKERS:

right. And so Maryland has a good plan, and you get to pick the investments, or you can do target date. If you've heard our show before, we pick the investment accounts, not the target date.

Paul Franco:

Yes,

BRIAN AKERS:

the other thing would be, is that what else could I do for my grandkids? So, I think, well, if I save money, I want full liquidity, I can use it for whatever reason. If I use a uniform gift to minors, uniform transfer to minors, uniform transfer miners, what does that

Paul Franco:

stand for, Brian?

BRIAN AKERS:

You tell me. I'm sorry. UTMA means the fact that we have a custodian for that kid, for the grandkid, and it'll be taxed at that grandkids' tax rate, and the first 14 years of their life is technically their parents' tax rate, but you don't really show up income to like 700 bucks, so that depends on how much you put into it, right, but the UTMA is an account that's fully liquid, if you have it in stocks and you sell it, it's a capital gains rate, could be pretty low, maybe zero. So, the idea is really, how can you invest money? Well, the Trump accounts, you put money in, it's not deductible, but it grows tax deferred. So, that means I think, if I'm understanding, I take my after-tax 100 bucks, put in the Trump account, they got to pay tax on the way out.

Paul Franco:

That's exactly how I interpret it, unless they do

BRIAN AKERS:

an 8606 form, right?

Paul Franco:

Right, unless they can track the basis somehow, which there is no nothing about that at this

BRIAN AKERS:

point. We don't know that. So the idea of good thing, and I'm telling you my exact situation, where am I going to put the money for the grandkids? I got Roth IRA is another one. They're not going to work hard this first year. I mean, AKERS Financial Group, we don't hire you're not going to put

Paul Franco:

them to work that early, not yet, right

BRIAN AKERS:

now. I mean, once again, I'm carrying trash cans out. We'll run through payroll a little bit,

Paul Franco:

clean the trash cans, so

BRIAN AKERS:

that's actually a Roth IRA for younger kids. If they have real true income, you can do a Roth IRA. What's that called,

Paul Franco:

right? So, I've done that. It's called a custodial Roth IRA, where we could have a grandparent or a parent open a Roth IRA for their kid who has earned income. I had a case where their kid's mowing grass, making a few $1,000 a year. We could open a custodial Roth IRA for him and put up to the amount that he earned and

BRIAN AKERS:

shows on his tax return.

Paul Franco:

Yes, exactly. This

BRIAN AKERS:

can't be pocket cash, because that will not show, and what. Does not qualify as income for a Roth contribution,

Paul Franco:

correct? Yes.

BRIAN AKERS:

So, so if we have a kid working anywhere, 15 years old, whatever age, making a couple 1000 bucks or 100 bucks, they can put that amount of money into a Roth IRA, which is exactly where the concept of Trump would get you to, would get you to a Roth if you convert and pay the tax later,

Paul Franco:

right? And that money grows tax free. Why not

BRIAN AKERS:

tax free from day one, right? And why fund the Trump when you can fund the Roth for a kid at that age?

Paul Franco:

Yep, agreed.

BRIAN AKERS:

So, the idea is this: at AKERS Financial Group, we love financial planning. We have a show called Winning in Retirement. Trump accounts are because our clients have won in retirement, and they want to help the legacy of their family, kids, and grandkids, and help them be as successful, because we all know retirement for the grandkids will be on their back. There will be.. there might not be social security like we see it. There may not be any pensions anywhere. If you don't save the money, no one else will.

Paul Franco:

Yeah, I think they.. what do we call that? Brian, you're on your own, right? You're

BRIAN AKERS:

on your own.

Paul Franco:

You're on your own. You are. Yep, you're on your own, yo yo, like a yo yo,

BRIAN AKERS:

yeah, yo yo, I agree, yeah,

Paul Franco:

you're on your own, yeah, very true, yeah, the

BRIAN AKERS:

yo yo financial plan, you're on your own, that means you got to save money, Trump account is interesting thing that the federal government's saying, hey, we're encouraged, here's 1000 bucks, consider investing, now 90% of Americans probably have never considered investing for a kid that's born. This will get accounts open if they do the paperwork. I think it's not a bad thing at all before that purpose to get more people to get into investing their money.

Paul Franco:

Yeah, and especially if that introduces the conversation of, okay, what else can I do? You know, can I? Should I open a 529 plan, what is a 529 plan? It introduces that. Oh, you're telling me I can set aside money that can grow tax free for my child and be used for qualified education expenses? Yes, there are ways to do that. It introduces those ideas. It's really incredible.

BRIAN AKERS:

Now, the math of all this. Now, if you actually do a Trump account, they put 1000 in, you can put an extra 4000 in, and then every year you put 5000 into that account, it could be worth like 150,000 by 18 years old, which is a lot of money for an 18 year old. Now, at 18 years old, they could take that money out, pay the tax, pay the penalty. Now, I've seen kids inherit money at 18, you know what they did,

Paul Franco:

what'd they do, Brian

BRIAN AKERS:

blew it out.

Paul Franco:

Yeah,

BRIAN AKERS:

his uncle passed away, gave the money to this kid of like 300,000 bucks. I had multiple meetings with the whole family trying to help him not spend the money. By 21 he had blown the whole inheritance on things you can't, can't replace. So, a Trump account with the ability to cash all out, it's going to be interesting in 1821 the scene that people really stick with it and let it roll right into their own if they

Paul Franco:

understand the tax implications to it, because they might see the dollar amount but not understand, and then get surprised when they do their taxes. Oh, I owe how much. Yeah,

BRIAN AKERS:

so the mindset of it, you wonder, like, will they truly let it be retirement accounts? I mean, great savers will, but then there'll be some people saying, oh, I could use that money, and they'll use it quickly, and then that's why people don't have any money in retirement, because they save the 401 k, they just switch jobs, they didn't roll it over, they cashed the 7000 bucks in, 8000 in, they got nothing, then they're 40 years old, they've not saved enough, or 50 years old, haven't saved enough, because they never let it grow, and that whole concept that makes the Trump account a good thing is money going into an investment, invest in stock market, and you let it grow.

Paul Franco:

Yeah,

BRIAN AKERS:

it's that simple. It is

Paul Franco:

that simple. And the compounding effect of that initial $1,000 can make a huge deal, like you said, it's a jump start for somebody by the time they turn 18, and then from there we want to say, let it. It's treat it like a retirement account. Let it grow. Don't take that money out. Let's plan for, let's plan other sources of funds to help buy that first house or help pay for school. Let that Trump account grow. The

BRIAN AKERS:

purpose behind your money will dictate the time horizon, the risk level you take, and how to invest it. It cannot be your source of next week's funds, it needs to be thrown to your personal future, because no one else can be doing that. You need to mess at this money aside long term.

Paul Franco:

Yes, yeah. Brian, do you ever think they're going to change the name of Trump account? Somebody will, somebody, right?

BRIAN AKERS:

Yeah, I think what they say, December 2028 the next month, somebody will.

Paul Franco:

You think so? Yeah, so

BRIAN AKERS:

who knows what they'll do, I the idea of a child account that grows her IRA, they did have a Roth IRA named after a Delaware senator, right after William

Paul Franco:

Roth, right now we

BRIAN AKERS:

don't even remember his name, remember Roth IRA,

Paul Franco:

right? right,

BRIAN AKERS:

we'll see,

Paul Franco:

we'll see, but maximize it, right, maximize it to get to get that $1,000 that's maximizing your Trump account, right? Well, that's all we want to

BRIAN AKERS:

do, not don't totally max it out, just get the get it open, do the paperwork, get it started, especially with now with a, they might actually put money in it, here comes soon.

Paul Franco:

Yeah, let them put it in and wait to contribute. All

BRIAN AKERS:

right, Trump account, it's a retirement account, it's not a college account, make sure you look into it, Trump accounts.gov If this applies to you, your grandkids help them get that account set up, so you get the $1,000 this year, and then we'll see what we recommend in the future as they change the rules of the game. Thank you for a good show, Paul. I appreciate it.

Paul Franco:

Thank you, Brian.

BRIAN AKERS:

Yeah, today we covered all that without the Trump account. If you've missed any of that, go to our website, AKERS Financial group.com check out the radio podcast, and here on all kinds of radio shows, we have over 200 shows sitting right there. We do look forward to meeting with you. We want you to win in your retirement by taking advantage of this opportunity to begin planning with us at AKERS Financial Group. To schedule a free meeting with one of our team of advisors, go to our website at AKERS Financial group.com scroll to the schedule meeting section, and let us know you'd like to schedule a free meeting right there, that's AKERS Financial group.com or call us at 833 when retired, that's 830 3w, I N R E T I R E. We'll give you a call on Monday to schedule your free in-person meeting with one of our team of advisors. Start planning now for your retirement. Go to AKERS Financial group.com or call us 833-946-7384 Thank you for listening. I'm BRIAN AKERS of AKERS Financial Group, and we want you to be winning in retirement.

Unknown:

You've been listening to Winning in Retirement with your host, BRIAN AKERS, of AKERS Financial Group. AKERS Financial Group offers securities through Arkadios Capital and SIPC and Finra member firm. Advisory services are provided through Arkadios Wealth. AKERS Financial Group and Arcadios do not share any common ownership. Neither Arkadios nor AKERS Financial Group provides tax or legal advice. Advice given on winning in retirement is general in nature, and one should seek further advice from their financial advisor, broker, attorney, and/or tax accountant before investing. Be sure to read each prospectus carefully to understand all the risks associated with each investment. Examples and scenarios shared are meant to be for illustrative purposes only. Past performance is not indicative of future results.