70 Million Trump Accounts: The $1,000 Isn’t Automatic, and “Half a Million” Is a 65-Year Bet

October 8, 2026

Treasury has now opened a Trump Account, which works like a traditional IRA for a child, for nearly every child under 18 with a Social Security number. That is about 70 million accounts, by the administration’s count, more than 60 million of them created automatically starting Oct. 1. The accounts are real and so is the automatic enrollment. The fine print is in which money actually lands without a parent acting, and in what the White House’s “estimated half a million dollars by retirement” line assumes.

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