The Grow Your Wealthy Mindset Podcast
Grow your wealth by working on your mindset and up leveling your game. Your thoughts about money have created your current financial net worth. Sadly, there are many physicians who are have earned a good income but have not built wealth. More and more physicians are becoming burned out as our health care system continues to change. Join the movement of physicians embarking on the journey to take matters in our own hands so we can continue to thrive. Tune in each week to learn more on how to grow your wealthy mindset! Imagine your life when you have the financial knowledge to create wealth so you can practice medicine on your own terms. Please subscribe and leave a review on your favorite Podcasting platform. You can learn more about Elisa at her website or follow her on social media. Website: www.GrowYourWealthyMindset.comInstagram https://www.instagram.com/GrowYourWealthyMindsetFacebook https://www.facebook.com/ElisaChianghttps://www.facebook.com/GrowYourWealthyMindsetYouTube: https://www.youtube.com/c/WealthyMindsetMDLinked In: www.linkedin.com/in/elizabeth-chiang-0582a432
The Grow Your Wealthy Mindset Podcast
Episode 198: Trump Accounts Explained: What Parents Need to Know
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If you have children, you may have seen a prompt in TurboTax or other tax software about opening a Trump Account. But what exactly is a Trump Account, and is it right for your family?
In this episode, we break down everything you need to know:
- Who is eligible and how to open a Trump Account
- Contribution limits, employer contributions, and federal seed money
- How the accounts are invested and what restrictions apply
- Impact on financial aid and long-term planning
- Real-world examples and growth projections, including potential Roth IRA rollovers
We also discuss the pros and cons for families, including physicians, and why these accounts can be a powerful tool for passing wealth to the next generation, if used strategically.
By the end of this episode, you’ll understand whether a Trump Account makes sense for your child and your family finances.
Resources & Links:
- Official Trump Accounts info: https://trumpaccounts.gov
- IRS Form 4547 instructions: https://www.irs.gov/instructions/i4547
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
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