Personal finance expert Dave Ramsey criticized the “Trump Accounts” as a political stunt on The Ramsey Show. The investment accounts for children, established under the One Big Beautiful Bill Act, offer a one-time $1,000 government contribution and allow families to contribute up to $5,000 annually. Ramsey advised against incorporating them into savings strategies.

Ramsey and co-host Jade Warshaw dismissed the “Trump Accounts” as flashy distractions, not as revolutionary as other savings options like the Roth IRA or 529 plan. Economist Peter Schiff also criticized the policy as unconstitutional and fiscally irresponsible, arguing against burdening newborns with more debt through government handouts.

Schiff called the $1,000 investment for newborns as unconstitutional and harmful, advocating for reduced deficit spending to avoid future financial burdens on the next generation. He dismissed the “Trump Accounts” as a gimmick distracting from larger economic issues caused by government spending.

While Ramsey and Schiff caution against quick political fixes, some Americans are seeking long-term strategies independent of government programs. EnergyX is tackling the lithium market, offering an alternative investment opportunity outside of government initiatives.

Read more at Yahoo Finance: Dave Ramsey Thinks ‘Trump Accounts’ Are A Political Stunt. ‘It’s Just Spreading Around The Money To Get People’s Attention’