The federal ABLE Act authorized states to establish tax-advantaged savings programs for individuals with disabilities so they can save and invest money without jeopardizing their eligibility for public disability benefits. ABLEnow, a proud partner of Special Olympics Virginia, is a national ABLE savings program offered by the Commonwealth of Virginia. Many SOVA athletes are successfully saving for the future with ABLEnow. We followed our very own Daniel Morales through the process of opening his own account and asked him the questions you may be wondering as well. Here is what he had to say:
How did you hear about ABLEnow?
I first heard about ABLEnow from a fellow athlete, who happens to be a good friend of mine. After I heard about it, I visited www.ABLEnow.com with my parents and they thought it might be worth checking out (pun intended).
Why do you want to open an ABLEnow account?
What are your hopes for having an account?
My hope is to be a little bit more financially smart. I think having this account is a good reminder to think about my future.
What are your hesitations about opening an account?
How was the process? Easier/harder than you thought?
It was much easier than I expected. I thought there were gonna be a lot more questions, but I just had to add stuff like my name, email, and SSN.
How long did the entire process take?
What surprised you most?
Honestly, I know I just said this, but it surprised me how quick the entire process was. I was expecting something a lot more tedious.
Who else could benefit from opening an account?
Anyone with a disability who is looking to save money could really benefit from opening an ABLEnow account. I also think families with eligible children with a disability could really benefit too. Personally, I am taking more ownership of my finances and become more independent. Family and friends can also help and add money to the account as well.
How different is having an ABLEnow account compared to other accounts you may have had?
How likely are you to recommend this to someone else?
I am definitely going to recommend this to my friends. The fact that it was so easy to set up, plus the good things that I've heard about it, I think it`s a no-brainer for people within the disability community.
If you are interested in learning more about opening an ABLEnow account, please visit www.ablenow.com for more information.