PHOENIX – July 29, 2026 — James R. Karberg, CFP®, Principal and Practice Leader for REDW Wealth, joined 12 News’s Today in AZ for a live in-studio interview with anchor Justin Pazera on July 28, discussing the newly introduced Trump Accounts and how they compare to 529 college savings plans.
James walked through the key differences between the two account types.
While 529 plans are designed for education expenses, offering tax-deferred growth and tax-free withdrawals when used for qualified college costs, Trump Accounts serve a different purpose: they’re structured for longer-term, retirement-oriented savings, and can be opened for a child as early as birth.
James also outlined the practical details: accounts can be opened at trumpaccounts.gov (or via the accompanying app) by anyone with a Social Security number, with contributions of up to $5,000 per year allowed from birth through age 18. Children born between 2025 and 2028 qualify for an initial $1,000 deposit from the federal government to help open the account. When the account holder turns 18, the Trump Account converts to a traditional IRA.
James addressed a common misconception directly: unlike 529 plans, Trump Accounts are not intended for college expenses — their purpose is centered on building long-term, generational wealth.
Watch the Full Segment 📺
To connect with James or learn more about REDW Wealth’s services, visit redw.com/wealth-management.
Advisory services offered through REDW Wealth LLC. Tax and accounting services offered through REDW LLC.
About REDW Advisors & CPAs:
Founded in 1953, REDW is celebrating more than 70 years of trusted expertise and growth. From its Southwestern roots, REDW has grown to serve clients from offices in Albuquerque, Oklahoma City, Phoenix, Las Vegas, and Salem and through U.S.-based remote teams and global partners. Over 375 professionals serve as vital business advisors and audit and tax professionals to a wide range of clients, both regionally and nationally, including mid-market businesses, nonprofits, construction and real estate, technology, healthcare, hospitality, professional service providers, and government, including Tribal Nations and their enterprises. The firm takes pride in attracting top talent from across the country who see REDW as a place to grow both personally and professionally. For more information, learn about REDW at redw.com/about, or connect on LinkedIn at linkedin.com/company/redw.
About REDW Wealth LLC
Founded in 1997, REDW Wealth LLC is an SEC-registered investment advisory firm subsidiary of REDW LLC. With offices in Albuquerque and Phoenix, the REDW Wealth team provides financial planning, investment management and consulting, and estate planning services to individuals, families, businesses, institutions, and Tribal entities and has more than $869 million in assets under management. For more about REDW Wealth, visit REDW Wealth online at redw.com/wealth, or connect on LinkedIn at linkedin.com/company/redw-wealth-llc.
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