News and Updates from the Illinois State Treasurer's ABLE Plan
Learn how IL ABLE accounts can help you achieve your long-term financial goals
August is “ABLE to Save Month”, a time for people with disabilities and their families to learn about IL ABLE accounts and how they can be an important resource to help increase financial well-being.
Keeping savings goals on track
The 2009–2021 markets were very good for investors, but volatility – the financial markets’ ups and downs – has increased dramatically in 2022. It’s not uncommon to see pullbacks and volatility after a period of exceptionally strong markets like those experienced since 2009.
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?
Read More “Springtime is a Great Time to Plan Ahead with IL ABLE”
Elevate your financial know-how
Managing money can be intimidating especially if it is a new responsibility or you feel you don’t have the right skills or language to talk about it. Financial literacy is all about empowering individuals with the skills and understanding needed to confidently manage their personal finances. As part of National Financial Literacy Month, we interviewed Carleda Johnson, Independent Living Skills Coordinator and Financial Literacy Coach at Access Living. Carleda shares her knowledge and expertise below to help you build your financial literacy.
New year sees market swings
2021 was a banner year for investors as the S&P 500, and other major indices that track financial markets reached all-time highs.
This year is off to a bumpier start with inflation, pandemic-related supply chain disturbances, and the current conflict between Russia and Ukraine contributing to the market’s volatility and investor uncertainty.
Read More “Keeping Your Savings and Investment Goals on Track”
Spring is the time to start investing in a bright financial future by using the easy Ugift contribution option.
Ugift® is an easy-to-use, no-cost way for family and friends to make a contribution directly to your IL ABLE account . How does it work?
First, you the IL ABLE Account Owner (person with the disability) or your Authorized Individual (an adult who is authorized to transact on the account) logs into the IL ABLE account here and accesses unique Ugift® code. Click here to log into your account.
Next, your or your Authorized Individual share that code with friends, family or others who want to contribute to your account.
Next, the gift giver visits UgiftABLE.com and inputs the code to make a direct contribution to your IL ABLE account.
All gift contributions made via Ugift® are deposited directly into your account. If you receive SSI benefits, your friend or loved one’s contribution to your IL ABLE account will help you preserve those benefits. Funds in your IL ABLE account can be used to pay for a long list of qualified disability expenses that can improve yourquality of life and increase your independence. Visit the UgiftABLE.com website for complete information.
Download and print a Ugift® Gift Certificate to mark the holiday gift. Learn more at UgiftABLE.com.
If the contributor to an IL ABLE account is an Illinois taxpayer, contributions may be deductible from state income tax. Visit illinoisable.com for more information.
Find quick answers to your ABLE questions with IL ABLE FAQs
Are you eligible to own an IL ABLE account? Take the Eligibility Quiz.
Ask Yourself These Four Questions to Help Decide What’s Best for Your Disability Expense Needs.
Once you’ve opened your IL ABLE account, you may be wondering how to allocate your contributions to meet your savings and spending horizons. Start by reading below.
When you open your Illinois ABLE account, you will be able to choose the investment options that meet your needs. When you invest, you make choices about what to do with your money and investment risk is something to know about as you decide.