It’s Only Money

On My Mind

As we move through the summer, we hope you had a wonderful Independence Day and had the opportunity to spend time with family, friends, and neighbors celebrating our nation's birthday. I hope you were able to enjoy fireworks, as I watched them on TV, but we did see Young Washington, and truly enjoyed the film.

This year also marked the beginning of America's 250th birthday celebration—a milestone that will continue through the next year. It's a meaningful time to reflect on the freedoms, opportunities, and resilience that have shaped our country over the past two and a half centuries.

With the recent announcements surrounding the new Trump Accounts, we've also received a few questions from clients. As with many new government initiatives, there is plenty of information circulating, and it can be difficult to separate the headlines from the details. If you've been wondering whether these accounts may benefit your family or how they fit into your broader financial plan, we're happy to help you understand what is currently known and how any future guidance may apply to your situation.

At Resolute Wealth Management, we believe good financial decisions begin with honest conversations. If you have questions—whether about new legislation, retirement planning, investments, taxes, or anything else affecting your financial future—please don't hesitate to reach out. We're always glad to be a resource.

We appreciate the trust you place in us and look forward to continuing to serve you and your family.

Trump Accounts:

Here are a few reasons why we encourage opening Trump Accounts for anyone who meets the eligibility:

*Tax-Free Growth – Investments are shielded from taxes during accumulation.

*Under-18 Rule – Any United States citizen with a Social Security number, and under the age of 18, can utilize these accounts. The $1,000 seed gift is only for those born between January 1, 2025 and December 31, 2028.

* No Withdrawals (for any reason), are allowed until the beneficiary reaches the age of 18.

*$5,000 Annual Cap – Individuals (parents, grandparents, and friends) can contribute up to $5,000 combined per year using after-tax dollars.

*Backdoor Roth IRA – At age 18, the account automatically converts to an IRA. This opens up the opportunity for Roth conversions for the beneficiary, taking into account their tax situation.

Please let us know if we can answer any questions about these accounts or if you need assistance opening an account.