SAN FRANCISCO – Governor Newsom and First Partner Jennifer Siebel Newsom celebrate a huge milestone with one million CalKIDS “baby bond” accounts claimed by families across California. The state launched CalKIDS in 2022 — four years before the federal government enacted similar “Trump Accounts” — providing free funds for California’s kids to use for higher education and career training. The Governor is also announcing the California Golden Start Challenge, a joint effort with Invest America to help boost kids’ savings for college and career.

Launched by California as the nation’s first statewide children’s savings program at this scale, CalKIDS provides eligible children with publicly funded savings for college and career training. Families can claim their accounts and build on those savings over time, giving children a financial foundation for their future. 

Now, California and InvestAmerica are taking the next step with the California Golden Start Challenge, a new effort calling on businesses and philanthropic leaders to invest in California’s children. Contributions will be split between eligible CalKIDS accounts and federal 530A accounts, creating new opportunities for families to build long-term savings. 

Our kids are worth the investment — and California is making sure more of them have the tools, resources, and opportunity to build a stronger future.

(Photo source: Gavin Newsom’s Newsroom)