ABLE to Save Month
Updated: Aug 11, 2022
Did you know it is #ABLEtosavemonth?
#ABLEtosavemonth recognizes the need to help people with disabilities save and invest money. By opening ABLE accounts, people with disabilities can save and invest money for their future. ABLE accounts are a game changer for the disability community! Want to know how?
ABLE accounts are tax-advantaged savings accounts, which means income earned by individuals with disabilities are NOT taxed.
ABLE accounts can help individuals with disabilities take care of a wide variety of expenses: employment training and support, health care expenses, housing assistance, college education, car purchases, assistive technology, personal support services, other expenses which help improve health, independence, and/or quality of life.
People with disabilities can save and invest up to $16,000 per year into their ABLE savings account.
ABLE saving accounts can hold onto an individual's money ranging from $235,000 to $550,000. It varies from state to state for total ABLE account savings.
How cool is that?! ABLE accounts have already made a difference for so many lives of individuals with disabilities. Now it's time to continue spreading the word!
Disability self-advocates, would you open up your own ABLE account? Parents, would you open an ABLE account for your child with a disability? Share your thoughts in the comments section!