People who receive disability benefits often feel trapped in a cycle of barely getting by financially. When you’re on a small, fixed income, saving can be exceptionally difficult. And many disability benefits recipients can’t hold stable jobs or work more than a few hours a week.
There are also challenges associated with disability law that make recipients wary of getting ahead financially. Since they are so dependent on their benefits, doing anything that would force them off of the benefits can feel dangerous.
One way those who benefit from disability laws can start building up money savings is to use able accounts. These accounts are relatively new and are designed for people who receive disability benefits. These accounts allow disabled people to have assets without a cap on their savings.
With able accounts, those who are disabled can begin to improve their lives without worrying about penalties associated with taking steps out of poverty. Instead of being penalized for being disabled, they can begin to live more normal lives.
If you receive disability payments and are interested in able accounts, reach out to a disability law attorney in your area. They can help you use an able account correctly and keep your income.