Everyone dreams of being financially independent, but for people with disabilities like me, this dream is constantly out of reach. We must adhere to certain requirements to keep access to life-sustaining support, such as Supplemental Social Security or Medicaid. That’s why I am grateful that ABLE United accounts exist. Today, I will share my experience with signing up for an ABLE account, how it helped me, and tips for maximizing your savings.
My ABLE United Savings Journey
After speaking with a representative of ABLE United, I jumped at the chance to sign up. I was getting ready to graduate from college with my master’s degree and was looking for ways to become more financially independent. For years, I thought that I couldn’t have more than $2,000 in assets. But the ABLE United account gave me the power to save without fear of losing my social security income or Medicaid benefits.
Knowing I could save up to $19,000 in my account without losing my benefits gives me peace of mind. I could stash away the money I received from my uncle for my birthday, and I do not have to worry that my benefits would disappear if I took on the occasional tutoring gig.
Setting Up My Account
I have cerebral palsy, which makes typing on my laptop difficult, but I completed the online application with ease. I created an account on Florida’s ABLE United website, following the steps to link my bank account and select my preferred investment option.
Before I knew it, I was reaping the benefits of having my own tax-free savings account that could be used to cover:
- Housing
- Employment services
- Transportation
- Education
- Assistive technology and personal support services
- Financial management
- Legal fees
- Oversight and monitoring services
- Funeral and burial services
- Other expenses approved by the Treasury regulations – you can also read more about Qualified Disability Expenses here!
As a budding influencer and disability advocate, I am constantly traveling from one event to another, and having the power to access my ABLE account when transportation expenses start adding up is a relief.
How my ABLE Account has helped me
The money I save in my ABLE account allows me to pay for transportation, which means I get more opportunities to network with people in my community. Before I opened my account, I would have had to miss out on events because I could not afford to take extra trips.
- Employment: Black Girl Rolling began as a personal project. As I continue to grow my ideas and transform my project into a business, I will use my ABLE account to pay for expenses like camera equipment and microphones for my YouTube channel.
- Putting away for future expenses: One of the great things about an ABLE Account is that it can help me set aside money for the future. As I think about moving out of my mom’s home, I have to consider what kinds of adaptations I will need to make an apartment to more accessible for me. For example, if I needed a specialized bowl with a suction cup to keep it from moving while I try to crack an egg, I can use my ABLE account to help me get the bowl and other adaptive kitchen tools I might need.
- Unlocking Financial Freedom: Like countless others with disabilities, I aspire to own my home, pursue my career goals, and take vacations with my loved ones without worrying if my personal support staff is going to be forced to quit working for me because I just happened to make too much money that month to still qualify for my benefits. People with disabilities deserve to save for the necessities they need in life and invest in their future.
If you or your loved one qualifies for an ABLE account, I encourage you to check out this opportunity and share your tips for saving money as a person with a disability.
In fact, right now, as part of ABLE United’s “Way to Save” promotion, new account holders who sign up before June 30, 2025, will receive a $50 bonus. It’s their way of celebrating the freedom and control you gain when you choose ABLE United. Enroll today at ableunited.com.
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