From Savings to Security: Early Wealth Building Tools for the Next Generation

Wealth in America is often built through long-term investments—assets like stocks and home ownership that grow in value over time. For many families, however, that pathway remains out of reach. Data from the Congressional Budget Office shows that households in the bottom half of the wealth distribution held just 6% of total wealth from 1989 to 2022. A new federal policy approach aims to expand access to wealth-building opportunities, beginning at birth. 

To explore this new policy, the U.S. Chamber of Commerce Foundation, in partnership with Edward Jones, convened a webinar with leaders from financial services, policy, and community organizations. The discussion explored 530A investment accounts—also called "Trump Accounts"—and what families, employers, and financial professionals need to know ahead of the July 4 launch. 

How These Accounts Work 

Jason Tyszko, senior vice president at the U.S. Chamber Foundation, described 530A accounts as a "Swiss Army knife" among financial tools—flexible enough to support education, a first home purchase, or retirement from a single account.  

Unlike 529 plans, which are designated specifically for education expenses, 530A accounts allow broader use. Contributions can come from:  

• Family members and friends (up to $5,000 per year) 

• Employers (up to $2,500)  

• Philanthropic or government sources  

Children born between 2025 and 2028 are eligible for a $1,000 government seed contribution. 

Why Starting Early Matters 

Nicole Swift, vice president of retirement policy at SIFMA, emphasized the power of investing early. Investments in capital markets can grow exponentially over time. The White House Council of Economic Advisers estimates the $1,000 seed contribution alone could grow to approximately $6,000 by age 18—and up to $150,000 with consistent annual contributions of $2,500. 

But the impact goes beyond dollars. Timothy Flacke, co-founder and CEO of Commonwealth, noted that families living paycheck to paycheck often focus on immediate needs. "Having the presence of a long-term wealth-building account from an early age stands in contrast to that chronic focus on the here and now," he said. Research from programs in Oklahoma, California, and Maine suggest that even modest account balances improve children's aspirations and positively affect family wellbeing. 

Reaching Every Family 

Panelists emphasized that accounts alone aren’t enough—access and financial education are essential. Jason Ewas, associate director of inclusive saving and investing at the Aspen Institute Financial Security Program, called for a coordinated effort across financial services firms, employers, governments, and nonprofits to drive participation among those who would benefit most.  

David Clunie, general partner and head of community impact at Edward Jones, reinforced this point, noting all of us must “come together to make sure we are getting to as many people as possible to give them the information, tools, resources, advice, and guidance necessary to make informed decisions going forward." 

Chantel Sheaks, vice president of retirement policy at the U.S. Chamber of Commerce, encouraged families who have not previously filed taxes to seek support from trusted community organizations to activate their accounts and to remain aware of potential scams.  

A Call to Action 

530A investment accounts launch on July 4. For families with eligible children, the first step is simple: visit trumpaccounts.gov, complete Form 4547, and open an account.  

Even families who don't qualify for the $1,000 pilot contribution may still be eligible to receive philanthropic contributions—but only if an account is open. 

For more on the U.S. Chamber Foundation's Talent Finance initiative and early wealth-building strategies, visit uschamberfoundation.org/workforce