Introducing the 530A Accounts
The Treasury will launch 530A accounts—dubbed “Trump Accounts”—in 2026, offering a federal $1,000 seed contribution for children born between 2025 and 2028. Parents, guardians, or grandparents can open an account using IRS Form 4547, with annual contribution limits of $5,000, including up to $2,500 from employers or organizations. The accounts follow traditional IRA rules, requiring required minimum distributions at age 73 and taxing withdrawals as ordinary income, though they can be converted to a Roth IRA at age 18 for tax‑free growth.
How Inflation Affects Your Retirement Income (And What You Can Do To Fight It)
Inflation is a silent threat to Canadian retirees, with a long‑term average of about 2 % but an 8 % spike in 2022 that can quickly erode purchasing power. A typical CAD 4,000 monthly pension—roughly USD 2,960—could lose half its value in 35 years if...