1974: Ask Farnoosh: The Truth About Trump Accounts, a Wealth Hack for Kids and Estate Planning Made Simple

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. Learn more about Farnoosh's upcoming literary workshop Book to Brand. Early bird registration is now open! Hosted on Acast. See acast.com/privacy for more information.

You can listen to 1974: Ask Farnoosh: The Truth About Trump Accounts, a Wealth Hack for Kids and Estate Planning Made Simple online on Radio and Podcast. Open the player on this page to stream the available audio.

1974: Ask Farnoosh: The Truth About Trump Accounts, a Wealth Hack for Kids and Estate Planning Made Simple is an episode from So Money with Farnoosh Torabi - Stories of Personal Finance, Entrepreneurship, Financial Success, and Money Strategy by Farnoosh Torabi.

This episode is 31:29 long.

This episode was published on Apr 24, 2026.

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