In December 2018, the Internal Revenue Service (IRS) issued a press release with a reminder to millions of Americans. The IRS wants to ensure that those with disabilities, as well as their families, understand the benefits of saving in an ABLE account. Read more in this CBS News article.
The total annual contribution limit to an ABLE account is $15,000 in 2019. Thanks to the ABLE to Work Act, working account owners who do not participate in an employer-sponsored retirement plan may be eligible to contribute above this annual ABLE contribution limit. Learn more about ABLE to Work.
Ready to reach your financial goals in 2019? According to the Consumer Federation of America, those with a plan are twice as likely to save successfully. Here are three tips to grow your ABLEnow account this year:
- Set up automatic contributions: Reach your goals faster and put your savings on autopilot with recurring monthly contributions from a checking or savings account.
- Make an extra contribution: Celebrate a special occasion with a special deposit. When possible, consider putting extra money in your account to give it a boost.
- Ask family and friends for gift contributions: Anyone can contribute to an ABLEnow account. Set a savings goal and ask family and friends to help by pointing them to the ABLEnow Online Contribution Center.
Achieve your goals and maximize the benefits of your account. Saving with ABLEnow today can make a big impact on your financial future.