Trump Accounts - What are Those?

These accounts are essentially a Traditional IRA that allows children to save money in a tax-advantaged manner without having to have earned income, which is a requirement of most other tax-advantaged savings plans (Traditional IRAs and Roth IRAs).  The government will seed the account with 1K for each child born in 2025 or after.  Family members or employers can contribute additional money to the account.  The only advantage to these plans over all other schemes to save money under a child’s name:  These seem to be a way to save money in a tax-deferred manner until the child graduates college – once graduated, these funds can be rolled into the child’s Roth IRA at likely-low tax rates to grow tax-free for the remainder of the child’s life.