News and Updates from the Illinois State Treasurer's ABLE Plan
Your IL ABLE account can help you make the most out of summer
Summer has arrived and with it, endless possibilities for summer fun! While the warm weather can mean free time outside, a lot of activities will cost money. Whether you will be spending time at your local pool, taking a family road trip to see friends, camping at your favorite state park, or going to summer camp your IL ABLE account may be able to be used to cover these expenses and help you make the most of your summer.
Save for your child’s short and long-term needs
Spring is in full bloom – grass is green, the trees are blossoming, and the school year is winding down. For some, this means going through an Individualized Education Plan (IEP) review to reflect on the past year’s accomplishments and to look ahead to the next school year. This is also a great time to review your child’s short and longer-term financial needs. For example, will they need additional therapies or educational supports in the coming year? Is transition planning within sight?
Whether expenditures for your child’s disability needs are right around the corner or further down the road, it is never too early to save for them. IL ABLE accounts are a valuable resource for helping to meet the anticipated or future disability-related needs of your child. In fact, according to a recent IL ABLE survey of the Plan’s Account Owners, approximately 70% said they use their ABLE accounts to save for future expenses. IL ABLE offers seven low-cost, high-quality investment options, including a checking account with a debit card. Also, you can opt to increase savings through a recurring payroll direct deposit. (Read more about Savings and Investing with IL ABLE.)
Read More “Springtime is a Great Time to Plan Ahead with IL ABLE”
This Athlete and Global Messenger is Building Physical & Financial Wellness On and Off the Field
When 21-year-old Special Olympics Illinois (SOILL) Global Messenger Michael Williams collaborated on an Autism Awareness Month video, he was filling pandemic time to build communications skills while waiting to return to in-person SOILL competition. “Michael is not as interested in the virtual activities, so he is looking forward to entering more Special Olympics events in-person,” said Dawn Williams, Michael’s mom, and coach of several of Michael’s teams.
Read More “Special Olympics Illinois & IL ABLE partner to help families”
As an Illinois ABLE account owner, you can select from six investment options based on your needs and goals, in addition to an optional checking account. Your Illinois ABLE account gives you the flexibility to select the option that makes the most sense to you. The ABLE checking account option can be used for ongoing expenses that require easy access to funds, such as weekly therapy appointments.
Read More “What Disability Expenses Do You Want to Save For?”