Freedom Futures: How Atlanta’s First Baby Bonds Pilot is Building Evidence to Close the Wealth Gap
Freedom Futures: How Atlanta’s First Baby Bonds Pilot is Building Evidence to Close the Wealth Gap
"I don’t want to have to keep making decisions based upon lack... just being able to put myself ahead. [guaranteed income means] letting myself kind of be and exist with no expectations."
— Freedom Futures Participant
Last fall, we launched the inaugural cohort of Freedom Futures: Cash for Today, Capitol for Tomorrow, a first-of-its-kind Baby Bonds pilot program. We welcomed 50 ambitious young people from educational institutions across Atlanta into the program, designed to understand how direct investments in young people accelerate wealth-building and provide lasting financial stability. The program provides young people with monthly income support so they can meet their needs today and an investable sum to build long-term wealth.
During enrollment, participants shared what they’re most looking forward to as they begin the program, and what they would tell themselves four years from now, after completing it. They spoke of starting successful businesses, advancing their education, buying homes, and building wealth for their families and the next generation.
What Are Baby Bonds?
Baby Bonds are government-funded trust accounts created at birth or during young adulthood, typically for individuals from lower-income households. Baby Bonds address systemic wealth inequality at its root.
These funds can eventually be used for wealth-generating assets, such as:
Starting a successful small business
Pursuing higher education or vocational training
Purchasing a first home
Investing in long-term financial markets
Growing Support for Baby Bonds Legislation
Baby Bonds legislation is advancing in more than 15 states. National polling shows that a majority of U.S. voters, regardless of political party, support the creation of Baby Bonds. In Georgia, recent analysis suggests that a state-level program could generate $1.4 billion in new wealth per birth cohort, with rural counties benefiting the most. Pilot programs across the country, including Freedom Futures, are driving experimentation and demonstrating what’s possible when policy focused on improving the well-being of those most marginalized creates a stronger, more equitable economy for everyone. By combining "cash for today" with "capital for tomorrow," we are creating evidence-based pathways to opportunity and economic mobility.
Freedom Futures will be among the first pilot programs to deliver lessons for Baby Bonds and other early-wealth-building policy proposals.
Read our report, Perspectives on Early Wealth Building: Insights From Young Adults in Atlanta, which offers a deep dive into the lived experiences of our cohort and practical guidance for policymakers.