People With Disabilities Can Save With an ABLE Account
People with disabilities have many challenges in their daily lives and up until recently saving for their future was one of the most puzzling. According to USA Today, the rule over the past three decades has been that people with disabilities who receive government benefits could not have more than $2,000 in savings without forfeiting them. This limitation has put much strain on individuals who can work and save and families that are often forced to cover emergency expenses for their children with special needs.
Under the new system, those people and their families can contribute up to $14,000 per year into an ABLE account that has a new cap of $100,000. These changes allow for more freedom for the country's disabled and a higher degree of security for their futures.
