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.
Pisani family saves for short and long-term disability expenses
IL ABLE accounts can help people with disabilities save money for a variety of expenses, from everyday groceries to planning for larger purchases that improve quality of life and increase independence for the Account Owner. The editors of accessABLE News & Updates recently connected with Special Olympics Illinois athlete and IL ABLE Account Owner Louis Pisani and his mom Kish to learn about how IL ABLE helps Louis save for his future and build his independence.
July is Disability Pride Month and the Anniversary of the Americans with Disabilities Act
July 26 marks the 32nd anniversary of the passage of the Americans with Disabilities Act (ADA). This landmark civil rights law prohibits discrimination against individuals with disabilities in all areas of public life. Since its passage in 1990, people with and without disabilities have turned the month of July into Disability Pride Month. Events, parades and celebrations take place across the country to honor the diversity and achievements of people with disabilities.
Read More “Celebrate the Achievements of People with Disabilities”
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.
Mom and sons Zach and KC share their IL ABLE story
For people with disabilities, the positive impact of being able to save money in an IL ABLE account extends far beyond the dollar amount of their savings. IL ABLE accounts can foster a sense of accomplishment and independence. In a recent interview, IL ABLE Account Owners Zach and KC, along with their mom, Micki share how IL ABLE is an important financial resource for them.
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”
Learn how ABLE to Work can work for you
IL ABLE accounts offer many benefits. ABLE to Work is one of them. Account Owners who work and earn money can contribute more than the annual $16, 000 contribution limit. That means more savings.
Consider opening or contributing to an IL ABLE account
Tax refunds are always welcome, and they can give you a chance to think about the disability expenses you want to save for. Do you want to save the refund for an unexpected medical expense? Are you going to need new tires for the car that gets you to and from your job? Is there travel in your future? Whatever your financial dreams and goals contributing your tax refund to an IL ABLE account can help you reach them.
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”