Tim Steffen Weighs In on Trump Accounts vs. 529 Plans with Morningstar

Private Wealth Management

Baird’s Director of Advanced Planning Tim Steffen joined Morningstar to discuss how newly introduced “Trump accounts” compare to traditional 529 college savings plans and what the differences could mean for families.

Steffen explains that while Trump accounts can be used for future needs, they are structured more like retirement vehicles rather than dedicated education savings tools. He also highlights key differences in tax treatment and flexibility, noting that the right option depends on an individual’s goals.

Watch the clip on Morningstar.com

This video is part of a series with Morningstar. Watch part one on how the ‘Mega-Backdoor’ Roth works and part two on new 401(k) catch-up contribution rules.

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