Moneywise On Oneplace.com

Matt Syverson is a Certified Financial Planner and Certified Kingdom Advisor in Overland Park, Kansas. He’s also a specialist in helping families understand and set up ABLE accounts.  WHAT ARE ABLE ACCOUNTS AND HOW DO THEY COMPARE TO 529 EDUCATION SAVINGS ACCOUNTS?ABLE accounts, akin to 529 education savings accounts in terms of contributions and tax treatments, are designed to assist individuals with disabilities by allowing for the accumulation of resources without affecting their eligibility for government assistance.ABLE accounts, initially referred to as 529A plans, are intended for individuals with disabilities, allowing them to save beyond the typical asset limits set by government assistance programs.These accounts enable the saving of funds for a broad range of needs beyond just educational expenses, providing a more flexible financial support system for people with disabilities. WHO IS ELIGIBLE FOR AN ABLE ACCOUNT, AND WHAT ARE THE CONTRIBUTION LIMITS?ABLE accounts are specifically for individuals r