📊 Should you save with the Trump Account, 529, or Roth IRA?
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Parents are weighing a new option: the proposed "Trump Account" for savings. How does it compare to a traditional 529 plan for college or retirement? The Trump Account offers flexibility, while 529s offer state tax deductions but penalize non-education withdrawals. Compare your potential savings below. Read the WSJ story.
🇺🇸 The Trump Account
The proposed Trump Account offers tax-free growth and withdrawals for any purpose, making it highly flexible. However, it doesn't offer upfront state tax deductions.
🎓 The 529 Plan
A 529 plan offers tax-free growth for education. Many states also offer an upfront tax deduction on contributions (this calculator assumes you reinvest those tax savings). But if you don't use the money for education, you'll pay taxes and a 10% penalty on earnings.
See Also
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🏁 The Verdict
Difference in Value
Trump Account Net Value
529 Plan Net Value
Recommendation
529 Plan
Calculator updated by heyfinfam (v26.8.0) · View history
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