Kern County is launching a new initiative to connect families with Trump Accounts, a federal program that offers eligible newborns a $1,000 contribution toward their financial future.

WATCH THE ANNOUNCEMENT BELOW:

A funding announcement in Kern County aims to expand access to Trump Accounts, a federal savings program that gives eligible children a $1,000 head start on their financial future.

Any child under 18 with a valid Social Security number qualifies for an account. Parents or legal guardians can open and manage the accounts on behalf of their children.

Families, friends, and employers can contribute up to $5,000 per year per child. Funds can be accessed without penalty when the child turns 18 for qualified expenses such as education, a first home purchase or starting a business.

The Anand Legacy Foundation is committing $500,000 to help local organizations connect families with these accounts and other financial resources.

Ajay Anand is the founder of Anand Legacy Foundation, and he says, "Anand Legacy Foundation is matching one time a thousand dollars to the selected families through those five programs in Kern County. We felt that this was very close to our mission, and we feel that the generational impact of this contribution to the newborns, these 500 babies, would be significant for their future."

The five participating organizations are Kern County Public Health, Bakersfield Recovery Services, The Mission at Kern County, the Kern County Hispanic Chamber of Commerce and the Family Justice Center.

To understand how the program works, we visited Bakersfield Recovery Services' Lincoln Street location, where mothers in its Perinatal Program are already navigating the process.

Rayli Mitchell is a mother and client with Bakersfield Recovery Services, and she says, "Knowing that we have the support system that we have, I have this hope that everything will play out the way that I doubted at the beginning of my pregnancy. I was very unsure of how it would all pan out, but due to the services I've received here, and the love, support, and all the resources that are offered here, it just opened my eyes to a whole new realm."

For some mothers, the program offers a chance to start building financial security for their children from day one.

Lauren Ramirez, another mother and client at Bakersfield Recovery Services, says she was surprised by how easy the process was. "To know this was there and so simple for me to sign up for my daughter. Even just putting away a couple of hundred on there a year could make a big difference for her to be able to use it for school or buying a car, anything like that in the future if she decides to keep it in there or pull it when she's 18. So it just gives me more security."

Both mothers said support from Bakersfield Recovery Services helped them better understand the opportunity and how it could benefit their children's futures.

"We were informed that we were going to have a thousand dollars for our children set aside until they turned 18 and that we were going to be able to build on that throughout their lifetime and also add to it ourselves. I look forward to that because one thing I wanted to do from the jump was prepare him for when he's old enough to leave the nest. When I turned 18, I didn't have a fortunate beginning to adulthood. I was immediately in recovery programs, and I want him to be able to have a good start." Mitchell said.

Supervisor Jeff Flores said the investment is about more than a one-time contribution, adding that he hopes it encourages families to begin saving early and planning for their children's futures.

For more information, visit trumpaccounts.gov

Bakersfield Recovery Services

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