RHP Wealth Management

Trump Accounts opened on July 4. A few questions are worth considering:
➡️ Our baby is 18 months old. Do we qualify for the $1,000?
Yes. Every U.S. citizen baby born since January 1, 2025, qualifies for a one-time $1,000 federal contribution.
➡️ Is there an income maximum?
No. Eligibility is based on the child's citizenship and birth date, not family income.
➡️ Our child is 7. Did we miss it?
Not entirely. Any U.S. citizen under 18 can have an account opened. The federal $1,000 payment applies only to children born in 2025 through 2028, but everything else still applies.
➡️ Can grandparents contribute?
Yes. Up to $5,000 per year combined across parents, grandparents, family, and the child themselves.
➡️ What is the catch?
State tax conformity varies; California, for example, does not currently conform.

Whether to contribute, how much, and how to coordinate it with what you already have are all worth talking through. Give us a call to discuss!

Wishing you and your loved ones a wonderful holiday!

Five-star feedback never gets old ⭐️
We’re grateful for the trust our clients place in us. Thoughtful planning, clear communication, and long-term relationships are at the heart of everything we do.
Learn more about how we support our clients’ financial journeys by visiting www.royalharborpartners.com.

🎉 Celebrating 11 years of Michele at RHP Wealth Management!
For over a decade, Michele Jones, our Chief Wealth Management Officer & Partner, has been helping individuals and families navigate financial complexities with care, expertise, and heart. Her passion for building meaningful client relationships — and preserving family legacies for the next generation — is at the core of everything we do.
With a finance career spanning back to 1998 and experience at some of the nation's largest firms, Michele brings deep expertise to every client conversation. And when she's not guiding clients on their financial journeys, you'll find her volunteering at her kids' school, out on the water, or enjoying time with family.
Thank you for 11 incredible years, Michele. Here's to many more! 🥂