At that point, they’re more like an IRA, so if you make withdrawals before age 59 1/2, they’re subject to a 10% early withdrawal penalty unless they’re used for approved expenditures like college or the purchase of a first home. Investment growth is also taxable.When you make contributions to a Trump account, “you’re basically trapping money inside an inflexible, unusable account” that your children won’t be able to use for at least 18 years, according to Ramsey Solutions (2).“You’ve got other ways to save, ...