Helping Americans Save Shouldn’t Be This Complicated: Editorial

Americans are struggling to save any money at all, let alone enough for major bills like tuition, a home or retirement. A new government initiative has the right objective but the wrong solution.

“Trump accounts,” created in last year’s reconciliation bill, will become available on July 4. The aim is to encourage families to accrue savings by investing in low-fee index funds for kids. Each account opened for a child born in the four years through 2028 will receive a $1,000 bonus. Relatives, friends and employers, and even state governments can deposit up to a combined $5,000 per ...