The U.S. Department of the Treasury on Wednesday outlined investment options for Trump Accounts, a new federal program to help families invest in their children’s long-term financial security with low-cost stock market funds.
All contributions to the accounts will, upon launch, go into the State Street SPDR Portfolio S&P 500 ETF (SPYM), a fund chosen for its exposure to the U.S. stock market and expenses far below statutory limits, the department said. Additional index fund selections will be made public in the coming months.
The announcement represents a step in the Trump Accounts initiative, which offers tax-advantaged investment vehicles seeded with government contributions to promote saving for the next generation. The program is a part of the nation’s 250th anniversary celebrations….
Treasury Launches Low-Cost Index Funds for Trump Accounts to Boost Children’s Future Savings
