Key Takeaways Expanded eligibility rules now allow people whose disabilities began before the age of 46 to open ABLE savings accounts.ABLE accounts allow tax-free growth and withdrawals for qualified disability expenses.Contribution limits remain capped annually, but working individuals without employer retirement plans may be able to contribute more. Starting this year, approximately 6 million more people with disabilities became eligible for ABLE accounts, a type of tax-advantaged account available to ...

529 education savings plans are powerful tools to help pay for the mounting costs of an education. Yet some people hesitate to use them. One common concern is oversaving. You can only use 529 funds can only cover qualified education expenses without incurring a tax penalty, but it can be hard to pinpoint how much money you actually need. Many parents open 529s for their children at birth, when there’s no way to know whether their kids will earn a scholarship or go to college at all. Fortunately, parents ...