Majority of Americans Support Trump’s Retirement Savings Plan Despite Struggles to Save
Most U.S. voters say they support government-funded savings accounts for children as Americans struggle to build retirement security.
FIRST ON FOX: For millions of Americans, retirement feels less like a milestone and more like a moving target. A recent BlackRock survey reveals that many are open to exploring new approaches to secure their financial futures.
Alarmingly, about 30% of voters report having no retirement savings, while approximately 63% have less than $150,000 saved. This financial insecurity is further highlighted by the fact that 34% of respondents struggle to cover an unexpected $500 bill.
Despite these challenges, a significant number of voters are willing to diversify their retirement investments beyond traditional stocks and bonds. Many expressed interest in alternative options, including investments in private companies, real estate, and infrastructure projects such as data centers and energy transportation.
TWO-THIRDS OF AMERICANS BACK TRUMP’S $1,000 BABY SAVINGS PLAN PROPOSAL, NEW SURVEY FINDS
About one in three Americans do not have any retirement savings, according to a BlackRock survey. (David Paul Morris/Bloomberg/Getty Images)
“People see the capital markets working and want more access to them, which is critical,” said Nick Nefouse, BlackRock’s global head of retirement solutions, in an interview with Fox News Digital. “The capital markets have performed well in the U.S. not just over the last decade, but over the last 150 years. The more people we can engage with these markets, the more wealth we can generate across generations,” he added.
TRUMP EXPECTED TO REVEAL MORE ABOUT ‘TRUMP ACCOUNTS’ FOR NEWBORNS — HERE’S WHAT WE KNOW
The survey also indicates strong support for Trump Accounts, a government-backed, tax-advantaged savings account for newborns. An impressive 71% of voters, regardless of political affiliation, endorse this initiative. Notably, support is particularly strong among younger generations, reflecting a growing interest in policies that facilitate early wealth accumulation.
Treasury estimates that a fully funded account would earn as much as $1.9 million by age 28. (Tim Clayton/Corbis/Getty Images)
Regarding the popularity of Trump Accounts, Nefouse noted that the strong support reflects a broader belief in long-term investing and the importance of early wealth-building.
“This [Trump Account] initiative unites Americans across party lines. It aims to provide better education and financial resources to young people, helping them build wealth as they grow older,” he stated.
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Trump Accounts are expected to become available in mid-2026. (Rebecca Noble/Getty Images)
Trump Accounts are designed to operate like traditional long-term investment vehicles, but with specific rules to protect young savers. To kick-start these accounts, the federal government will deposit an initial $1,000 into each new account.
The program is set to launch in mid-2026, with initial contributions expected after July 4, 2026. Parents of babies born between 2025 and 2028 can open an account by completing IRS Form 4547 or by enrolling through the online portal at TrumpAccounts.gov.
Most U.S. voters say they support government-funded savings accounts for children as Americans struggle to build retirement security.
FIRST ON FOX: For millions of Americans, retirement feels less like a milestone and more like a moving target. A recent BlackRock survey reveals that many are open to exploring new approaches to secure their financial futures.
Alarmingly, about 30% of voters report having no retirement savings, while approximately 63% have less than $150,000 saved. This financial insecurity is further highlighted by the fact that 34% of respondents struggle to cover an unexpected $500 bill.
Despite these challenges, a significant number of voters are willing to diversify their retirement investments beyond traditional stocks and bonds. Many expressed interest in alternative options, including investments in private companies, real estate, and infrastructure projects such as data centers and energy transportation.
TWO-THIRDS OF AMERICANS BACK TRUMP’S $1,000 BABY SAVINGS PLAN PROPOSAL, NEW SURVEY FINDS
About one in three Americans do not have any retirement savings, according to a BlackRock survey. (David Paul Morris/Bloomberg/Getty Images)
“People see the capital markets working and want more access to them, which is critical,” said Nick Nefouse, BlackRock’s global head of retirement solutions, in an interview with Fox News Digital. “The capital markets have performed well in the U.S. not just over the last decade, but over the last 150 years. The more people we can engage with these markets, the more wealth we can generate across generations,” he added.
TRUMP EXPECTED TO REVEAL MORE ABOUT ‘TRUMP ACCOUNTS’ FOR NEWBORNS — HERE’S WHAT WE KNOW
The survey also indicates strong support for Trump Accounts, a government-backed, tax-advantaged savings account for newborns. An impressive 71% of voters, regardless of political affiliation, endorse this initiative. Notably, support is particularly strong among younger generations, reflecting a growing interest in policies that facilitate early wealth accumulation.
Treasury estimates that a fully funded account would earn as much as $1.9 million by age 28. (Tim Clayton/Corbis/Getty Images)
Regarding the popularity of Trump Accounts, Nefouse noted that the strong support reflects a broader belief in long-term investing and the importance of early wealth-building.
“This [Trump Account] initiative unites Americans across party lines. It aims to provide better education and financial resources to young people, helping them build wealth as they grow older,” he stated.
CLICK HERE TO GET FOX BUSINESS ON THE GO
Trump Accounts are expected to become available in mid-2026. (Rebecca Noble/Getty Images)
Trump Accounts are designed to operate like traditional long-term investment vehicles, but with specific rules to protect young savers. To kick-start these accounts, the federal government will deposit an initial $1,000 into each new account.
The program is set to launch in mid-2026, with initial contributions expected after July 4, 2026. Parents of babies born between 2025 and 2028 can open an account by completing IRS Form 4547 or by enrolling through the online portal at TrumpAccounts.gov.
