CalABLE

CalABLE is a tax-advantaged savings and investment plan for people with disabilities. Opening a CalABLE account allows people to invest in their future while preserving their benefits. In the past, the risk of losing public benefits coupled with the high cost of support expenses, limited members of the disability community from building financial security. Until now. A CalABLE account is a savings and investment account. Eligible individuals (and their friends, family and employers) may contribute up to $16,000 a year to a CalABLE account without jeopardizing public benefits such as SSI, and at any time you can have up to $100,000 in your account. Account holders who work can potentially contribute above $16,000 yearly. Earnings and withdrawals in a CalABLE account receive tax-free treatment, provided the funds are used for Qualified Disability Expenses.