One of the many provisions of the One Big Beautiful Bill Act (OBBBA) of 2025 was the creation of a federally-backed savings and investment program dubbed “Trump accounts.” The intent behind the accounts is to give children a head-start on investing by providing government seed money. Recently, the Trump accounts have made headlines again thanks to a major private pledge from billionaire philanthropists Michael and Susan Dell, according to CNN. See Next: I Asked ChatGPT How To Build Wealth for the Rest of ...

The goal of 529 plans is to make it easier to save for college. These tax-advantaged investment accounts allow you to save and use the growth tax-free to pay for qualified educational expenses. Like most tax-advantaged accounts, however, there are rules about how much you can contribute — and what you can pull the funds for. That can create issues if you accidentally overcontribute. That's the situation Becky is facing after accidentally contributing $10,000 instead of $1,000 to her daughter's 529 account ...