And so, you know, some critics might say, well, $1,000, what is that going to do without broader systemic changes? Well, that's wrong because again, you know, I think in some states, because Many states are also going to contribute that $1,000 would turn into 5,000 when the child turns 18. They could then roll it into an IRA that could be between 3 and $500,000 at retirement. But that's just with the initial seed contribution. (04:11–04:22)
CLAIM
Asserts that state contributions could increase the $1,000 investment to $5,000 by age 18.
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