BlackRock: As Americans struggle to save for retirement, 71% back this Trump proposal
A new BlackRock survey reveals broad backing for Trump Accounts, a new savings account for newborns
BlackRock: 71% of voters back government-funded 'Trump accounts'
Most U.S. voters say they support government-funded savings accounts for children as Americans struggle to build retirement security.
FIRST ON FOX: For millions of Americans, retirement feels less like a milestone and more like a moving target — and a new BlackRock survey finds many are open to doing things differently.
About 30% of voters say they have no funds stashed away for post-work years and about 63% say they have less than $150,000 saved. Given that backdrop, about 34% say they have difficulty immediately paying an unexpected bill for $500.
Even so, most voters say they’re open to letting retirement plans invest in more than just stocks and bonds if it could help their savings grow. Respondents said they would consider options that include private companies not traded on the stock exchange, real estate, and infrastructure projects such as data centers, energy and transportation.
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About one in three Americans do not have any retirement savings, according to a BlackRock survey. (David Paul Morris/Bloomberg/Getty Images)
"People see the capital markets working and people want to have more access to the capital markets, and that's critical," Nick Nefouse, BlackRock’s global head of retirement solutions, told Fox News Digital. "Capital markets have done very well in the United States, not just in the last 10 years, but the last 150 years. The more people we can get into the capital market, the more wealth we're going to generate across generations," Nefouse added.
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Support extends beyond retirement plans. The survey also finds broad backing for Trump Accounts, a government-backed, tax-advantaged savings account for newborns. The BlackRock survey shows that 71% of voters across the political spectrum support the concept. Support is strongest among younger generations, signaling growing interest in policies that help Americans build wealth earlier in life.
Treasury estimates that a fully funded account would earn as much as $1.9 million by age 28. (Tim Clayton/Corbis/Getty Images)
When asked about the popularity of Trump Accounts, Nefouse said the strong backing reflects a broader belief in long-term investing and early wealth-building.
"I think this [Trump Account] really brings Americans together across party lines. You're talking about having people with better education and more money when they're younger to hopefully build into these accounts as they're older," he said.
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Trump Accounts are expected to become available in mid-2026. (Rebecca Noble/Getty Images)
Trump Accounts are designed to function much like traditional long-term investment vehicles, but with rules specifically intended to protect young savers. To kick-start the nest egg, the federal government will deposit an initial $1,000 into each new account.
The program is scheduled to become available in mid-2026, with initial contributions occurring after July 4, 2026. Parents of babies born in 2025 through 2028 may open an account by completing IRS Form 4547 or by enrolling via the online portal at TrumpAccounts.gov.