I posted this in r/stocks also.
Does anyone have more information on this? Looks like a resolution made it through the house recently.
From what I gather, this account is tax free on the principle and gains, $2500 max yearly contribution, and no restrictions on withdrawing the funds. I haven't done a deep dive into this yet and will once I'm home, but this sounds pretty nice if that is in fact what it is. Supposedly similar to Canada's TFSA and other account in the UK and so on.
Link to get started: https://policy.house.gov/legislative/bills/hr-6757-family-savings-act-2018
EDIT: It's called the "Universal Savings Account" in the bill itself. My impression is that it will operate like a Roth, but with far less restrictions on withdrawal. That extra freedom is nice.
Submitted October 04, 2018 at 09:27AM by maddumpies https://ift.tt/2xX7cVu
