00:00President Trump signed an executive order on Thursday to create retirement accounts for tens
00:04of millions of American workers who don't have access to a 401k or other workplace plan. Low
00:09income workers without a retirement plan will also get a federal matching contribution of a
00:14thousand bucks every year. Now, low income in this case means individuals making less than $35,500
00:20annually, head of households making $53,250 per year, or couples jointly making $71,000 each year.
00:29This will be really revolutionary because they'll be covered. Nobody thought that was possible.
00:35For example, if a 25-year-old who is eligible for a Savers Match program invests just $165 a month
00:42under the matching federal contributions, they will have an estimated $465,000 in their account
00:50by the time they're 65 years old. In other words, they'll be rich. And there's something awfully nice
00:58about that. The U.S. Treasury Department will launch the website trumpira.gov on January 1st of next
01:03year to begin fielding the applications for this. An earlier effort under former President Barack Obama,
01:09my IRA was eliminated by President Trump in his first term.
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