ABLE Account Decision Guide Series

Ready and ABLE to Work and Save

The Case for Working

The U.S. Labor Statistics report for 2021 states that, across all age groups, persons with disabilities were much less likely to be employed than those without disabilities. There are a few reasons for this. Often people with disabilities are unaware that it is possible for them to work, understand which type of jobs are available to them or that they can return to a similar job. Added to that, they often have additional disability-related expenses, as well as concerns about keeping needed means-tested benefits like SSI and Medicaid. Saving earned income in an ABLE account is one strategy that could be helpful to consider, though there are others.

If this sounds like you, please read:

Work is an option for people with disabilities, whether they are receiving a benefit from SSA or not. There are many different types of jobs. A person with a disability can work for an employer on a job site, from home or can be self-employed. The links below will introduce you to some working people with disabilities and you will learn what work looks like for them. You will also learn about the strategies they used to find and keep their jobs, as well as how they use their ABLE accounts to manage and save the income that comes from working.

As a person with a disability, you may feel overwhelmed by the activities associated with finding, training for, and keeping a job. You might feel like it is too much to do on your own, yet don’t know who could help you or what help might be available.

If you feel this way, please read:

In exploring this ABLE Decision Guide, you have seen that there are many things to consider when you think about getting a job and many ways ABLE accounts can be used to support you. It can be overwhelming though, especially without some help. There are services that can help you find a job and support you as you learn a job and/or move up a career ladder. Some of these services are available to anyone with or without a disability and some are designed specifically to help people with disabilities. The types of employment services used, and how they are used, will vary based on your needs and personal circumstances. The resources below are a great place to start.

  • Simon Cantos Spotlight - This short article tells Simon Cantos’ story: how he advanced in his career as a person with a significant disability, the help he received and how he uses his ABLE account to maintain his employment while also contributing to his ABLE account for other goals.
  • Vocational Rehabilitation | Workers with a Disability - Vocational Rehabilitation is a federal service available to help people with disabilities train for, find and keep jobs. This Career One Stop webpage describes the services available to people with qualifying disabilities whether they receive a disability benefit or not.
  • SSA Ticket to Work - The SSA Ticket to Work website offers SSA disability beneficiaries free job support and services. Utilize the “Find Help” tool on this webpage to locate a service provider who can help you develop an employment plan and access SSA work incentives and employment supports.
  • Alternative Finance Programs and ABLE for Assistive Technology - This podcast, hosted by Chris Peterson of Penny Forward, features Laurie Schaller, a Manager of Financial Empowerment at National Disability Institute, who explains how assistive technology can help people with disabilities on the job or in their home. The interview includes strategies to consider and stories of people who have used these programs to afford assistive technology, save money and improve their lives.

The need to maintain eligibility for means-tested benefits may be a powerful reason why people with disabilities may not realize that getting a job is an option for them. Both being determined eligible and maintaining that eligibility for means-tested benefits like SSI or Medicaid can be difficult to do. Those who receive these benefits may not realize that work supports exist. Many people may not know that the supports can help a person to work and increase their income and savings. Work supports offer a chance to try working and, if the job does not work out, there are ways to re-start benefit payments without needing to reapply.

If you want to learn how work income affects your benefits, please read:

Income from work may impact your means-tested benefits like SSI or Medicaid. These benefits are often critical to the health, safety and well-being of people who receive them. To make sure that income you save from a job does not negatively impact your eligibility for benefits, it is important to access information from reputable sources and use strategies like opening an ABLE account. To learn more, check out the resources below:

  • Nathan Turner Blog - In his blog, ABLE account owner Nathan Turner tells the story of how he realized working would be possible for him and how he now helps others in similar situations to see the benefits of working. He also shares how he uses his ABLE account to keep his job and increase his financial security.
  • ABLE Accounts and Employment Success - This podcast features Kathy DeAngelo, a Certified Benefits and Work Incentives Planner for Chenango-Delaware-Otsego (CDO) Workforce in upstate New York. Listen as Ms. DeAngelo shares how her office informs Social Security disability beneficiaries about ABLE accounts and why owning an ABLE account is critical for people who need a safe place to save some, or all, of the money earned from a job.
  • ABLE Accounts and Working People with Disabilities - This ABLE Decision Guide offers resources and strategic guidance to ABLE account owners who seek to achieve maximum levels of independence through employment.
  • 2022 Update – How do ABLE accounts affect my Social Security disability benefits? - Published by the Social Security Administration (SSA) Ticket to Work program, this blog includes information on ABLE accounts and SSA work supports.

Meet Some Working ABLE Account Owners with Disabilities

Work is an option for people with disabilities, whether they are receiving a benefit from SSA or not. There are many different types of jobs. A person with a disability can work for an employer on a job site, from home or can be self-employed. The links below will introduce you to some working people with disabilities and you will learn what work looks like for them. You will also learn about the strategies they used to find and keep their jobs, as well as how they use their ABLE accounts to manage and save the income that comes from working.

If hearing these stories has made you reconsider working, please go to: Things to think about when you think about work.

Saving to Achieve Goals in Your ABLE Account

You, as a person with a disability, or others can contribute up to $17,000 per year into an ABLE account. When you work, you may be able to contribute even more from your employment income if you or your employer do not make a deposit into a retirement plan in the calendar year. This is a great opportunity to save towards a retirement goal with the added bonus that this money grows tax-free when invested in an ABLE account. To learn more, please go to:

  •  ABLE To Work Act  – This fact sheet includes information on the additional amount which can be deposited, identifies the types of retirement accounts or annuities and how an ABLE account can be funded.
  •  Finding the Funds to Save in an ABLE Account  – This decision guide examines key sources of contributions to an ABLE account. It includes earnings, using SSA work incentives and other key strategies.
  •  Setting Your Financial Goals – Setting your financial goals is an important step to achieving financial well-being and maximizing the benefits of being an ABLE account owner. Setting your goals is the first step in creating a roadmap to a better financial future.

Conclusion

No matter where you are in your employment decision making process, the ABLE National Resource Center has educational tools and resources to help you increase your knowledge of personal finances and achieve a higher level of financial stability and well-being.

Knowing how to manage your money from employment in your ABLE account will help the account to grow tax-free to best support you in achieving your goals and dreams. The Decision Guide, Managing Your ABLE Account, may be helpful to you as you move towards making the most of your ABLE account.

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Note: Our ABLE Decision Guide Series is designed as an aid to decision making as it relates to establishing and using an ABLE account. This document does not cover every possible issue related to the topic and is not a substitute to more in-depth analysis that may be required in some cases.