While July Fourth was all about letting freedom ring, returns on capital also had a moment, as the day marked the official launch of Trump Accounts, which are meant to help Americans start saving for retirement much earlier.

A vehicle designed for children

Any American with a Social Security number can have a Trump Account (also known as a 530A account) as long as they are enrolled by the year before they turn 18. The terms of participation may sound familiar:

• The child’s parents, the parents’ employers, family members, and charitable organizations can all make pre-tax contributions. Each account can receive up to $5,000 annually.
• The funds are automatically invested in a long-term index fund.
• The beneficiary takes control of the account at age 18. Standard rules for IRAs apply, and money gets taxed once it’s withdrawn.

It’s free to open an account. Some children will also get free contributions:

• Those born between 2025 and 2028 will receive $1,000 from the federal government.
• Children born between 2016 and 2024 could receive $250 if they live in a zip code with a median income under $150,000. Those funds are coming from Michael and Susan Dell’s pledge to the initiative.
• Some large employers offer grants to the children of US employees, including many big banks and tech companies.
• Private citizens are also taking part. An anonymous donor in San Francisco will contribute $500 to the accounts of every baby born there this year. Nicki Minaj pledged a total of up to $300,000 to fans’ accounts, but specifics haven’t been provided.

The response: Supporters say that giving families the opportunity to save for their children very early will level the playing field. Critics say the initiative won’t mitigate income inequality because parents who already have more will deposit more.

Zoom out: The website for Trump Accounts says that if an account receives an initial $1,000 and no further contributions this year, that could be worth $243,000 by age 55. But that depends on strong and consistent market returns between now and then.—HVL

FIFA allows Folarin Balogun to play for US tonight, in surprise reversal. USMNT striker Folarin Balogun, the team’s high scorer thus far in the World Cup, had received a red card in the team’s Round of 32 match against Bosnia and Herzegovina last Wednesday that also handed Balogun a one-game suspension. That was supposed to be served ASAP, during tonight’s Round of 16 game against Belgium, but last night, FIFA announced on its website (but not on social media) that Balogun would get a reprieve. While many fans did not believe Balogun deserved the red card, some watchers feel the reversal looks bad, since President Trump called FIFA head Gianni Infantino to request a review.

At least 18 high-temp records were broken over July Fourth weekend. Officials believe at least 25 people died as a result of the heat wave that enveloped the East Coast and the Southwest. One of the cities to experience a record-high temperature was Washington, DC, which canceled its parade on July 4 as the heat index reached 115 degrees Fahrenheit. High temperatures continued throughout the East Coast, Southeast, and Southwest through Sunday. While relief from 90-degree temps is expected this week in many parts of the US, potential flooding is now a major concern.

OPEC+ agreed to raise its output targets. Yesterday, the alliance announced it would increase production by 188,000 barrels per day in August. That marks the third consecutive month of increases but, as Reuters noted, the prior ones were largely symbolic, as the Strait of Hormuz remained impassable. Last week, Vice President JD Vance suggested that the world refilling its oil reserves quickly would diminish Iran’s negotiating power, saying in an interview that the US specifically signed the memo of understanding with Iran to “refill some stocks and then to see where the hand is.”—HVL

Finally, a homecoming story that doesn’t star Matt Damon. Young adults are increasingly moving back in with their parents, in part to sidestep the high cost of living on their own.

According to the Wall Street Journal, citing Federal Reserve data from last year, 49% of adults under age 30 say they live with a parent. That’s up 12 percentage points from 2019. And it’s not just recent college grads: Nearly one-third of adults age 25+ live with a parent.

Homecoming kings and queens: While “boomerang kids” used to be stigmatized due to associations with failing to launch (and the reminder that the movie Failure to Launch exists), more than one-third say their primary motivation for moving home was so they could save for a down payment on their own home, per Thrivent.

The connotation is changing. Samantha Stobo, 33, told the WSJ that no one judges her for living at home. “The conversation tends to be more like, ‘That’s awesome, and I bet you’re saving money.’” And, apparently, a version of the trend has even bubbled up in the ritzy Hamptons.—BC

Soak up the Sun Valley: Some of the world’s richest and most powerful people will arrive in Idaho tomorrow for Allen & Co.’s Sun Valley conference, traditionally a hot spot for Yellowstone cosplay and dealmaking, since it brings together a mix of moguls. This year’s invite list includes Tim Cook and his successor John Ternus, Jeff Bezos, Mark Zuckerberg, Sundar Pichai, Sam Altman, Dario Amodei, David Ellison, Bari Weiss, and many more.

SpaceX enters rarified air: Less than a month after going public, Elon Musk’s space and AI company will join the Nasdaq 100 tomorrow. A number of funds track the tech-heavy index, meaning SpaceX’s inclusion will expose the company to a new pool of passive investors—and expose those investors to the volatility that has marked SpaceX’s public trading so far. The Nasdaq 100 recently changed its rules to fast-track the inclusion of companies like SpaceX.

From sixteen to eight: By the end of tomorrow, there will only be eight teams left competing in this year’s World Cup. To make it to the quarterfinals, the US Men’s National Soccer Team needs to beat Belgium tonight (the match starts at 8pm ET). If the Americans win, they’ll face either Portugal or Spain in Los Angeles on Friday for a shot at the final four.

But wait, there’s more:

• President Trump will attend the NATO leaders’ summit in Turkey, which starts tomorrow.
• A new take on Little House on the Prairie premieres on Netflix on Thursday.

Mondays are bad enough, so the Brew’s own Brendan Cosgrove scoured the internet for a positive news story to help you start the week off right.

For the second summer in a row, Paris has opened parts of the Seine River to swimming, proving that sometimes it pays to put money in banks.

Back in 2016, the then-mayor of Paris, Anne Hidalgo, pledged to clean up the city’s notoriously dirty river in time for the 2024 Olympics. After years of work—including the implementation of new wastewater infrastructure—and more than $1.14 billion spent, swimming in the Seine is now as French as a Disney chef character, or spelling NATO backward.

After the world’s best swimmers took to the Seine in 2024, Paris let the public take a dip last year. Now, with the historic heat wave that recently rolled into the city, and another expected this week, three free supervised sites have been opened so locals and tourists can see what it’s like to do the backstroke while staring at the Eiffel Tower.—BC