Category: Retirement
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What Are Trump Accounts? A Complete Guide to the New Tax-Advantaged Savings for Children in 2026
Trump Accounts are a new type of tax-advantaged savings and investment account introduced under the One Big Beautiful Bill Act (OBBBA), signed into law on July 4, 2025. These accounts, also referred to as Section 530A accounts, function like traditional individual retirement accounts (IRAs) but are designed specifically for children under age 18. They aim…
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2026 401(k) Limits Just Jumped to $24,500 – Are You Missing Out on Free Tax Savings?
The IRS bumped employee contributions to $24,500 (plus bigger catch-ups for 50+). Maxing this could slash your tax bill by thousands – but only if you act now in January. As we dive into 2026, the IRS has delivered some welcome news for retirement savers: higher contribution limits for 401(k)s, IRAs, and other plans. These…