The U.S. Department of the Treasury is introducing a new savings tool: Trump Accounts. Trump Accounts are a new type of tax-advantaged investment account designed to help kids start investing early and build long-term financial security. Eligible children born between 2025 and 2028 can receive a $1,000 initial contribution from the U.S. Department of the Treasury. Nearly six million children have already been signed up for a Trump Account, and over 60 million are eligible.

Steve Quirk, Chief Brokerage Officer for Robinhood, breaks down what you need to know.

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