It’s Ask Farnoosh Friday, and today we’re tackling one of the most talked-about and misunderstood financial topics right now: “Trump accounts.”
What are they, how do they work, and are they actually worth it? I break down the structure, the limitations, and where these accounts may fall short compared to more established options like 529 plans and custodial brokerage accounts.
I also walk through a strategy that could make these accounts more powerful, especially if you’re thinking long-term about building wealth for your child.
In addition, I share a simple, practical guide to putting together a basic estate plan. If you’ve been putting this off, this episode will help you focus on the most important steps you can take right away.
We also cover several major money headlines, including the impact of AI on jobs, rising concerns about retirement readiness, and how Americans are adjusting their spending habits in response to higher costs.
