Here is what readers think, plus Trump Accounts are here

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On the Money

On the Money

By Lauren Young, Digital Special Projects Editor

Greetings, On the Money readers!

If you’re a careful reader of this newsletter, you know that I love reader mail. I actually read (and try to respond) to every message I receive. This week I’m sharing some recent messages from you.

But before I launch into your comments, you’ll find some timely personal finance news. And here is a friendly reminder to follow our On the Money coverage. Connect with me on LinkedIn, where I’m always posting the latest Reuters headlines. 

 

If you had a baby in the past few years, you might be eligible for $1,000 in savings from the U.S. government. REUTERS/Massimo Pinca

Did you start saving in a Trump Account?

Designed to help young Americans build wealth from an early age, Trump Accounts are finally here!

President Donald Trump said on Monday that the U.S. government had deposited the first $1,000 into more than 500,000 "Trump Accounts," a program designed to give newborn Americans a stake in the stock market.

If you are one of those 500,000 who opened an account, I want to hear from you! And if you’ve opened up an account, or qualify for a match from other sources, let me know if the money has landed in your account. What do you hope your savings will be used for when your child becomes an adult? Write to me at onthemoney@thomsonreuters.com.

 

Read. Watch. Listen.

  • How loud budgeting is helping Gen Z set financial boundaries 
  • When career playbooks fail: Money moves to make right after a layoff 
  • US Treasury picks State Street, BlackRock and Vanguard ETFs for Trump Accounts 
  • Rerouting the Gulf: How nations are scrambling to bypass the Strait of Hormuz
  • Citi cuts bitcoin, ether forecasts as ETF flows turn negative 
  • Trump claims credit as Walmart drops prices on barbecue staples
  • From server to founder: How Alex Schinasi built Hulken 
 

Video of the Week

 
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Would you blow your savings on a bucket-list trip?

 

Selden Demeer flew to Istanbul on a whim to see his favorite band, Constantinople. Photo courtesy of Selden Demeer

In my last edition, I wrote about a 28-year-old who is using nearly $40,000 in savings to travel around the U.S. and cheer on England in the World Cup.

Since then, we also published an article about another fan who is traveling around to seven European countries to attend watch parties with locals for an authentic experience.

Below you'll find some slightly edited comments from readers about blowing the budget for travel and mini-retirements:

On June 7, I was watching videos on YouTube by the Canadian early music ensemble Constantinople. On a whim, I looked up their concert tour for 2026 — pretty sure that a Canadian group with an Iranian leader wasn't going to be giving any performances in the U.S. To my surprise, Constantinople was giving a concert in Turkey’s Grand Bazaar on June 21. My 80th birthday was June 25.

I told my wife about my crazy plan, and she said, "Do it!" I flew to Istanbul for the June 21 concert, and many other activities including a day-long boat trip to the Prince's Islands, a three-hour workshop on Ebru (Turkish paper marbling) and a food tour.

The Constantinople concert was a peak life experience, and the whole trip was wonderful. Total cost — including airfare, hotel for seven nights, meals, several excursions and gifts for friends and family — was just over $3,500. 

This was perhaps the most impulsive thing I have done, and I don't regret a penny spent. At the age of 80, I don't know how long I will be able physically or mentally to do things like this, but depleting my retirement savings is among the least of my concerns. I can't take the money with me, so why not broaden my life experiences while I am able to do so?

Selden Deemer, Dahlonega, Georgia

 

Savings are key