The 401Kids Savings Act would create savings accounts for newborns. While state child savings accounts have shown promise, inflation and taxes prompt concerns.
You are not required to contribute the maximum. Some of the programs only required $5 for an count. Saving some, even a little, is better than saving nothing.
Most of us don’t have $2500 per year to save !!!
That’s good, it means the cap won’t restrict what you can save for your children.
You are not required to contribute the maximum. Some of the programs only required $5 for an count. Saving some, even a little, is better than saving nothing.