ABLE account
A special savings account created by federal law that lets people with disabilities save money without losing government benefits or paying tax on the growth.
A definition says what a thing is; it never says whether it fits you. The guides explain how it works and name the professional who confirms it for a particular person. The No Advice Disclosure.
Words beside it
- ABLE Act
A law Congress passed in 2014 that created special savings accounts for people with disabilities so they could save money without losing government benefits.
- accounting software
This is a program that records the money moving through a business, such as sales, bills, and payments. It sorts each item into a category and builds reports showing what the business earned and spent.
- Custodial account (UTMA/UGMA)
An account you manage for a child that becomes theirs outright at adulthood.
- health savings account
A special bank account the government allows you to open so you can save money specifically for medical costs and get tax benefits while doing it.
- High yield savings account
A savings account paying a competitive rate, usually online.
- mental accounting
This is the habit of treating money differently depending on where it came from or what you plan to use it for. For example, people may spend a tax refund freely but guard money in a savings jar, even though a dollar is worth the same either way.
- retirement account
A special savings account the government created to help people save money for when they stop working. It comes with tax benefits that a regular bank account does not have.
- Stablecoin
A crypto token meant to hold a fixed value, backed by reserves of varying quality.
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