Millions More Disabled Americans Will Be Eligible for This Tax-Free Savings Account
By:
Adam Hardy
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Editor:
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It will soon be easier for millions of disabled Americans to save money without jeopardizing their government disability benefits.
ABLE accounts — short for Achieving a Better Life Experience — allow people with qualifying disabilities to save money in tax-favored accounts similar to 529 college savings plans.
A major caveat has kept these investment-and-savings accounts out of reach for millions of Americans: The account holder’s disability must have developed before the age of 26.
