To celebrate ABLE to Save Month, Oak Wealth Advisors would like to share a few resources and make you aware of how ABLE accounts could benefit even more people soon.
ABLE accounts are tax-free savings accounts for individuals with disabilities who do not have access to employer provided retirement savings plans. Since their inception at the end of 2014, ABLE accounts have become a valuable financial planning tool for eligible individuals.
Congress is moving forward this summer with legislation that will allow more people to utilize ABLE accounts. Currently, an individual’s disability must have been diagnosed prior to age 26. The pending legislation would increase the age of disability identification to 46. We will confirm the change as soon as it becomes official.
In the interim we hope you will enjoy this recently published CNBC story on ABLE accounts. Oak Wealth Advisors founder Mike Walther contributed to the story and is quoted several times. You can click this link HERE to access the article.
Our Oak Wealth Advisors ABLE Account Comparison Matrix can help evaluate which of the 46 state plans to choose or help check if your current plan is still optimal by comparing the features most important to you. You can click HERE to access the matrix.
Another great resource for staying current on ABLE account news is the ABLE National Resource Center. Their website is https://ablenrc.org.