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Avance Private Wealth Management

Coverage of Avance Private Wealth Management in the Nexus archive.

Earliest in view: Jul 12 · 11:02 UTCMost recent: Jul 12 · 11:02 UTC

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BUSINESSJul 12 · 11:02 UTCFORTUNE
A Trump Account could make your kid a millionaire by 45—but financial experts say the app’s projections come with a catch
Trump Accounts, a tax-advantaged investment app for children under President Donald Trump’s tax law, promises substantial returns with annual contributions. The app projects $878,000 by age 55 with a $250 annual contribution, but financial experts caution these estimates rely on a 10% historical S&P 500 return, which may not persist. Experts like Adam Vega and Pam Krueger suggest lower returns, around 6.3%–7%, could yield significantly less over time.