""We could afford a house at 27 or 28. These kids can't, so they look to quick‑buck flips, and that's just not how markets work," says Bill Capuzzi, CEO of Apex Fintech Solutions, which runs the infrastructure for many investing apps, reaching 41 million consumers."
""Take this $1,000, don't touch it, watch it compound over 18 years and learn how the markets really work.""
""Some companies offer scholarships for employees' children, but that can turn out to be a tax headache or source of resentment.""
The Treasury Department announced that BNY Mellon and Robinhood will develop an app for tax-deferred investing accounts for children, launching in July. The initiative will provide $1,000 in federal funds for babies born between 2025 and 2028. Critics question the allocation of funds, but early investing is recognized as a method to build wealth. Companies like Nvidia and JPMorgan Chase are matching the Treasury grant for employees' children. The program aims to promote financial wellness and prudent investing among younger generations, potentially leading to significant savings by age 18.
#tax-deferred-accounts #financial-wellness #investing-for-children #wealth-building #corporate-responsibility
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