93.9 The Eagle – The News and Talk of Columbia, MO
The state has a program to help Missourians with disabilities and their families save money and invest, tax-free.
Missouri Treasurer Scott Fitzpatrick tells Missourinet the accounts can be used like a 401K, a checking account, or a college savings account.
“ABLE is kind of a financial tool that allows some people that may not work because of fear of having assets and those assets causing them to lose access to benefits like Medicaid and SSI.”
Fitzpatrick says the program gives account holders a tax deduction when money is deposited, up to $15,000.
